[nycdweller]

Thanks Walter. Your suggestion of using Internet Explorer works. I will check out Mt4. I forgot one other question. If someone wants to trade using a 1 hour chart as the trigger, what time frame would you use for the trend? Or if you use a 1 hour chart for the trend, what time frame do you use for the trigger? Thank you.

[walterw]

Originally Posted by nycdweller »

Thanks Walter. Your suggestion of using Internet Explorer works. I will check out Mt4. I forgot one other question. If someone wants to trade using a 1 hour chart as the trigger, what time frame would you use for the trend? Or if you use a 1 hour chart for the trend, what time frame do you use for the trigger? Thank you.

Normally 1/5th between scales would do it... thats a nice relationship between "setuping" and "timing" chart... cheers Walter.

[sundowner]

Hi Walter,

Boy did I get hammered last night (PDT). I learned two things:

Man am I dumb...and man, I can't believe how dumb I am. It looks easy on the videos, but it's not so easy real time.

Practice, yes? I found I was getting out of trades late.

Here is what I am going to work with next week. It's PYenner's ADXVMA4bar...sorry, the red line. Otherwise your 1min and 5 min template.

I'll post these charts since you are encouraging charts on this thread.

Regards

[Reaver]

I do dumb things too when I get hammered. Don't feel bad.

[sundowner]

Thank you for you kind reply Reaver and your contributions are brilliant, although I'm know nothing of your trading platform...

What I meant by hammered buddy, was that I lost every trade I entered.
(Canadian, eh). Language thing, probably. Although it wouldn't be beyond me to get "hammered" now and then... fishing and golf me.


Cheers

[PYenner]

Originally Posted by sundowner »

Boy did I get hammered last night (PDT).
I learned two things:
Man am I dumb...and
It looks easy on the videos, but it's not so easy real time.

Ditto.
One day=dream
next day=nightmare
This is about chart time I suspect.
I have problems when the blue line is horizontal or due to become horizontal because the momentum has already slowed and the "ladder step" has already finished but I don't realize it soon enough and the blue line is too late telling me the news. Instead of thinking "scalp the swings during HE or stay out" I alternate between expecting the next ladder step or a pull back before the next ladder step or looking for a reversal. So I whipsaw myself, completely out of step with NOW and alternating between possible future trends.

I have loaded Walters template for 5min chart onto a 1hr chart and am finding the stages of price movement involved with each ladder step has a pattern. But you have to mentally "slide the blue line to the left" to see where the price of the HE will be for the blue line. You can only do that with a historical chart, but the idea is to help identify from the price action alone where the HE price will be, before it happens. That might not make sense without doing a video to show you.

I suspect the same will apply on 1min price action. Walter has enough chart savvy to see this directly from the price action. He sees the patterns, we need to learn them.

Like you I am attempting to trade patterns before I know what they look like.
Most of all I find myself whipsaw trading during HEs, the very opposite of what this whole thread has been about. Man does it make you feel dumb

In my case, I am ahead of the price action and it is more about getting the time scale and sequence during the HE stage into my head so I don't go trading "break outs" long before they are due. When Walter says the green line doesn't whipsaw you, there is an exception, when you are in the first half of a price HE (it happens before the blue line shows it, in fact the blue line may be halfway up its ladder rise at the time(on 1hr chart)) you do get whipsaw from the green line and that can be taken as the sign that you are in HE NOW. In the case of a rising ladder, the price seems to rise during the second half of the HE (dome or inverted cup) then drop into pullback, crossing or touching the blue line just before the fast rise at the begining of the next step up. But this is on the 1hr chart ok, the 1hr blue line.
Still learning patterns here...

[PYenner]

Sundowner
Maybe this pix will help.
"slide the blue line to the left" to see the PRICE and ACTUAL time when the "PRICE" HE started ok?
I was hoping to come up with a set of straight lines through the price rise stage that might help give an earlier idea of when and where the HE started.
But have not got that far yet.

There will be a vma line that is more suited to 1hr charts that will show an HE a lot earlier (but also at a higher price).
eg use the reset button on ADXVMA6_16bar to bring it closer to real time.
We will get there...
Yeah max confusion sometimes...

[PYenner]

Second pix with second copy of 6_16 running in red on 1hr chart, set to 16 bars.