mp6140
Established member
- Messages
- 742
- Likes
- 75
I used your LRC to good effect today. Don't like trading overnight on the indices, and traded LLOY overnight, instead. Very pleased with the result. I used two different channels and they both showed oversold and pointing up.
Split
TheBramble
Legendary member
- Messages
- 8,394
- Likes
- 1,170
Ah no Split, don't defect! We were hoping you were going to lead the vangaurd to run that thar mp fella outta' town for preachin' the devil's work - trading with no stops.
Just ain't the Christian way....we like to donate....
Just ain't the Christian way....we like to donate....
mp6140
Established member
- Messages
- 742
- Likes
- 75
==================================================================
golly gosh --- there may be something left in that old fella yet.
was it the young nurse that runs fast ??
define TWO LRC channels, as that is course 301 and has not been taught on these airwaves yet !
and, dont you DEMO things before you try them or you one of those "high risk oldsters ?"
oh yeah, sent you a picture and some words for whatever holiday is upcoming
mp
Attachments
Last edited:
Last edited:
mp6140
Established member
- Messages
- 742
- Likes
- 75
===================================================
obviously still thinking about the nurse, you didnt tell me about your TWO channels thingie and PLEASE be careful of using the ideas without demoing them first !
now PLEASE tell me how you used TWO channels !
and get some REST from your exertions !
LOL
mp
black bear
Guest
- Messages
- 1,303
- Likes
- 165
Just a guess from a daft Bear
mp
just a guess :cheesy:
Trend lines, to me, are drawn arbitrarily. I just use them as a sort of "comfort line". If I am on the right side of it I feel fine and have no worries. The rule that they must be drawn across the tops or bottom is, more or less, telling the market what to do. How can you expect that of a price? When the price cuts the trend I look to see if a pattern is forming. If the pattern is continuous, I revert to a trend line, again, almost certainly, the momentum will have changed but if I keep to the right of it in a bear and to the left of it in a bull then I am OK- Whenever it crosses, it is a warning to pay attention to the trade, nothing more.
There is nothing to be learned from trend lines, IMO anyway, except to help keep the ship on course. Go inside it and you are entering into shallow water.
Watch the trend line but remember that deep sea men don't like shallow water. Neither do coastal men like deep water.
BY
Split
sorry for the re-post Split but just fits so well, almost belongs with channels and the like
mp
just a guess :cheesy:
Trend lines, to me, are drawn arbitrarily. I just use them as a sort of "comfort line". If I am on the right side of it I feel fine and have no worries. The rule that they must be drawn across the tops or bottom is, more or less, telling the market what to do. How can you expect that of a price? When the price cuts the trend I look to see if a pattern is forming. If the pattern is continuous, I revert to a trend line, again, almost certainly, the momentum will have changed but if I keep to the right of it in a bear and to the left of it in a bull then I am OK- Whenever it crosses, it is a warning to pay attention to the trade, nothing more.
There is nothing to be learned from trend lines, IMO anyway, except to help keep the ship on course. Go inside it and you are entering into shallow water.
Watch the trend line but remember that deep sea men don't like shallow water. Neither do coastal men like deep water.
BY
Split
sorry for the re-post Split but just fits so well, almost belongs with channels and the like
Your chart data is more sophisticated than my EOD Sharescope. I can't superimpose one on the other, I have to switch to another sheet. That is no problem to me, but I can't show it easily. Also, being EOD, I need the brokers free chartware for triggering the entry. which, although good enough, does not use LRC. So the EOD LRC spotting has to be selected on an EOD basis and, then, my normal entry procedure comes in the next morning.
I took your advice and stayed flat until I thought that the move had started, the band being broken on the previous day.
How did I use TWO channels? Just scanning the FT100 until I got a share that was oversold on the two and had started to reverse on the next bar, then waiting for an entry the next morning. Like you said, it is important to be flat and WAIT for the move.
Bramble, I still use stops!
The chart only has the channel. This morning LLOY is very firm but Fins chart service is down! I'm just using the data.
Split
Attachments
TheBramble
Legendary member
- Messages
- 8,394
- Likes
- 1,170
Then Jesus still loves you my son.
black bear
Guest
- Messages
- 1,303
- Likes
- 165
Good bit of work Split
Hi Split
Nice post and very informative, good trading to by the looks of it
Hope its nice and sunny out there and required
take care :clover:
Hi Split
Nice post and very informative, good trading to by the looks of it
Hope its nice and sunny out there and
requiredtake care :clover:
Hi Split
Nice post and very informative, good trading to by the looks of it
Hope its nice and sunny out there and
take care :clover:
I made a **** up of that last chart. Imade my entry a day early.
Sorry, but still good
Split
black bear
Guest
- Messages
- 1,303
- Likes
- 165
Looks good to me Split,
Strong wind might be getting up, if the ftse goes 6200 then
for Split
good trading
Strong wind might be getting up, if the ftse goes 6200 then
for Splitgood trading
Looks good to me Split,
Strong wind might be getting up, if the ftse goes 6200 then
good trading
Yes, I'm watching Footsie. It's resting on the support of January's high. If it can attack Feb's resistance, that's 60 odd points higher, which is nothing for Footsie.
Having said that, Andy, I'm cuttung LLOY. It's been a good day's trading because, yesterday, I was in FT in the morning, as well. I going to spend some time reading up on on this thread---see if I can get to grips with some of it.
Raining today. Not enough to fill the reservoirs, though. That will take some doing.
Split
Raining today. Not enough to fill the reservoirs, though. That will take some doing.
Split
black bear
Guest
- Messages
- 1,303
- Likes
- 165
Have a gud un
Just finished my little weedhopper session over here, 2 scalps both good uns = one I perhaps should have run a bit but never found greed pays in the long run, at least not for me
Latter:clover:
Just finished my little weedhopper session over here, 2 scalps both good uns = one I perhaps should have run a bit but never found greed pays in the long run, at least not for me
Latter:clover:
black bear
Guest
- Messages
- 1,303
- Likes
- 165
To much info for this little Bear Split
Hi Split
Glad your keeping the faith
I see what he is saying its just to much going on at one time for me I guess, my bear brain would go out the window, goes against the only add when right rule to which if you don"t practice and your not real experienced can end in quite quick if your un-prepared, just in my humble opinion of course.
Happy I brought the Stops bit up anyhows, mp as put a little more detail into his posts and even this Bear can grasp what he is up to
mp ~
see post on are you any good at intra day thread, think it should be over here, perhaps LM can transport it when he gets a minute:?:
Hi Split
Glad your keeping the faith
I see what he is saying its just to much going on at one time for me I guess, my bear brain would go out the window, goes against the only add when right rule to which if you don"t practice and your not real experienced can end in
quite quick if your un-prepared, just in my humble opinion of course. Happy I brought the Stops bit up anyhows, mp as put a little more detail into his posts and even this Bear can grasp what he is up to
mp ~
see post on are you any good at intra day thread, think it should be over here, perhaps LM can transport it when he gets a minute:?:
Last edited:
mp6140
Established member
- Messages
- 742
- Likes
- 75
Mp -- Gu Lrc
top LRC being pushed up on the H4 chart with 15 mins left to "normal" reversal at 12 noon edt --- given action, there may be a slight downside move after noon, but anticipate move continuing north..
while indicators predicting breakout, closeness to reversal and at top of LRC has me flat, WAITING for a breakout to enter.
9989 would be easy with 2.0033 doable by the end of the 24 hour day
top LRC being pushed up on the H4 chart with 15 mins left to "normal" reversal at 12 noon edt --- given action, there may be a slight downside move after noon, but anticipate move continuing north..
while indicators predicting breakout, closeness to reversal and at top of LRC has me flat, WAITING for a breakout to enter.
9989 would be easy with 2.0033 doable by the end of the 24 hour day
mp6140
Established member
- Messages
- 742
- Likes
- 75
=============================================================
INDEED -- a whole week of dropping to reach the point for an EXCELLENT LONG !
LOOKS LIKE A PLAN THAT CAME HOME TO ROOST !
i will comment on your "trend line" comments, and i think you may be a touch "divided" on your thoughts --- first you see that it works, but you also state that its NOT VERY IMPORTANT to you.
My thouoghts, of course, is that its the MOST IMPORTANT thing because it serves as a warning point ---- for me its a point to set my trades tp point and then go flat until i see what is going to happen, which can either be a bounce DOWN or a break OUT !
GU showing that wonderfully right now --- moving the LRC up on the H4 ever so slowly --- its now noon edt, time for the normal intraday reversal where the mms get back their profit, but indicators are showing continuation of the move, which since the price moved UP and then was DROPPED, would indicate more upside facing us --- not written in stone, but sure looks good !
i can understand your thoughts on trend lines being "arbitrary", but in reality the LRC or DeMark is AMAZINGLY accurate if you watch price action when price hits either one of them (or even a hand drawn one)
the markets have evolved into "technical" trading from the years ago "fundamental" trading (although the market makers and specialists ALWAYS used the daily pivot points to determine prices)and only one look at a properly laid out chart will show that to be true.
for our honey loving bear, even on the one, 5 or 15 and below charts, the LRC and support and resistance will put you into and KEEP you in profit better than you can ever imagine.
Ive taken a detailed look at my latest broker summary, and i have 98.9 SUCCESSFUL trades, and those that were not WERE ACCIDENTS ON MY PART -- I CLOSED 2 WRONG TRADES COMPLETELY BY ACCIDENT and of course, my broker wouldnt alter it ! These trades totalled close to $4K (USD) and while doing that pissed me off, it had little effect on the total account !
So what im saying, even without the use of NO STOP LOSSES, the methods i use KEEP you in a trade, even when the mm's are HEADFAKING your trade all over the place ---- think of all the honey you could have for yourself Bear, if you could add 15% MORE profitable trades to your account !
I try, and i can fully understand wanting to live with whats comfortable and WORKS for you, but the concepts are very simple for those with some experience, and even a bear in hibernation can figure them out and use little teenie weenie parts to increase their honey bank !
LOL
enjoy and trade well
mp
Similar threads
