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Very dangerous game!
You will get chopped on strong trend days.
The tick extremes actually show strength.
As for time for the "Pro's" tp step in, well the "pro's" lost so much money doing this........(see the "zoo" guys...).
The "pro's" never categorically fade anything, nor do they ever face the market with a given strategy(...like I will fade the tick at 1000..."), they adapt and react and use good r/r based on proper sup/res analysis confluence which is mainly visual and not indicator orientated.
This game is though, I want to direct you to a guy that had a blod on day trading and just retired (and he is very very good).
http://highprobability.blogspot.com/
This is a very difficult game to predict the future guys. |
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LOL at the highprob blog. I partially feel sorry for him, but hes a gambler through and through.
Pros fade price action divergence, not indicators themselves. Well the big pro's don't predict the future or fade anything, they make the future as they control supply and demand.
And the higher end retail traders that can't move the market meerely take the trades with higher odds and accept the risk of a failed trade. It's a probability game, nothing more or less IMO.
You're dead on...you fade ticks and you might as well send me your money, hell I'll even give you a kick in the balls to remind you what a dopey idea it was. It may have worked but overall internals will leave you confused and broke. Even the setup I gave below is easy to use in hindsight, forward use it's not so easy.
Tough game, but a great challenge.
