[brownsfan019]

As much as ET can be a waste of time, every so often a thread comes along that grabs my attention.

This thread is one of them.

It's entitled - Ideas for struggling traders - and the ideas presented are fairly basic and repeatable (I think).

If you are struggling or just looking for a fresh idea, check that thread out.

I suggest checking out and maybe even taking screenshots if interested as it could easily disappear tomorrow.

[brownsfan019]

I received a few PM's from people that found the thread on ET worth pursuing. I'd welcome any and all feedback for others to see. The premise behind the system is one that seems easy to follow and I've been watching it intra-day to see how it runs.

Still too early to say much other than, candles print like crazy on a 2401 constant volume chart, that's for sure. Interesting premise w/ the moving averages as the guide.

[dandxg]

I think the main point is trading with price and volume. I am familiar with that thread, Steve 46 and Prof Logic. You would get similar results with 2000 CVB IMO.

In the past Steve was a proponent of VSA which you obviously aren't. I think a logical argument could be made for using market profile, since it's price and volume as well. Price and volume, the lowest common denominator for success IMO. S/R would be third priority on my list. Armed with those three you don't need anything else.

[That One Guy]

Originally Posted by dandxg »

Armed with those three you don't need anything else.

Yeah, but it's much easier for people to have something tell them to enter. Price and volume alone requires a good amount of understanding of whats going on between the buying and selling pressure. Most people would rather wait for the green light to go long and the red light to short. This is all just my opinion, and I, have nothing against any particular trading method if it works for you.

[james_gsx]

This is kind of OT, but I have realized that traders who tend to struggle the most (really just don't get it) are simply trading the wrong market Or they don't give enough effort and screen time - again because they don't care and are trading the wrong market.

That's probably for a different thread, but I like the idea of some basic trading rules to help someone get started. This could turn out well and help a lot of people get that little push. That doesn't mean someone should make a trading plan word for word what we discuss, but a small idea could help them get the ball rolling, so they could independently design their own system. If that makes sense.

I found that when fast time frames were burning me out I would want to go back to my plan and tweak things. Eventually I just started looking at longer time frames, and it suited my style of trading and the way I read charts much better.

[Bearbull]

Originally Posted by Jwhite198621 »

Yeah, but it's much easier for people to have something tell them to enter. Price and volume alone requires a good amount of understanding of whats going on between the buying and selling pressure. Most people would rather wait for the green light to go long and the red light to short. This is all just my opinion, and I, have nothing against any particular trading method if it works for you.

Spot on Jwhite, price movement is independent of bar intervals and reading price action (buying/selling pressure) involves lots of effort/screentime, however in this age of instant gratification who wants that
However price action seldom lie, I would say relevant support/resistance zones as primary , then price action at these levels, as Dbphoenix has pointed out,
if your strategy requires you watch too much (indicators etc), you need to re-evaluate the strategy. The choice is up to the individual.

[brownsfan019]

Originally Posted by Bearbull »

, I would say relevant support/resistance zones as primary , then price action at these levels, as Dbphoenix has pointed out,
if your strategy requires you watch too much (indicators etc), you need to re-evaluate the strategy. The choice is up to the individual.

If the individual is making consistent $ with 10 indicators on their screen, why on Earth change that?

While my setup is fairly simple, this recent "no indicators or else" wave through here is rather amusing. On that ET thread there is an easy to follow example using moving averages. Maybe that's "too much" for some, but for others that may be plenty. Maybe some like stochastics as a reinforcement. Maybe others like pivots, etc. etc.

Trading comes down to finding what works for YOU; whether that is bar charts by themselves or spline charts w/ 13 separate indicator windows. This business is about MAKING MONEY. Nothing else.

[Bearbull]

Absolutely, it is all about finding a strategy that suits your personality and then applying with discipline, I should have emphasized "too many indicators", having seen some of the charts posted on Woodie's website, nothing wrong with filtering out trades with use of stochastics, RSI etc and taking those with high probability outcome.