[jonbig04]

Hola traders!

I thought it was about time for me to join in all the fun. I am a PA only trader as well and would like a smoother equity curve and just overall all more consistency in my trading. I think Thales' method will help me out quite a bit, as it has already helped many of you.

As of now I really don't put all that much wait on the HH's and HL's etc and I see that I am missing a big chunk of what PA has to give me. I'm hoping to combine Thales' analysis to what I already do to become a better trader.

My trading will likely still be a little different than everyone else's here, but we are all essentially looking for the same things, right? I also trade ES exclusively for now, but have been keeping my eye on USD/JPY (don't hate me).

Anyway I've attached some diagrams that outline what Thales has already said, but these kinds of things are helpful to me and may be to anyone else still unclear about what to do.

I have a journal here on TL as well and will be duplicating my posts here to that journal. I started it back when I really didn't even know what a HH was, so I like to keep it going somewhat.

Yes, I realize these could have been drawn by a 7 year old with a crayon, but that's the beauty of it!

[Don4]

Thales, I would say that you moved your stop by now, is it somewhere around 1.6587.

[thalestrader]

Originally Posted by Kiwi »

FWIW ... taking every break with the flow on the other ones (blue bars=while I sleep = us day)

How are the results thus far, if we might ask?

Best Wishes,

Thales

[RichardTodd]

FWIW I've been doing nightly "homework" that looks more or less like the attached chart. Basically trying to train my eyes to see the high-level swings by drawing them in by hand. Then labelling the HLs and LHs that break out. I know a lot of trades posted around here come off the "high frequency" wiggles in price... I've noticed that if you use those for tight stops on your entries while focusing only on the slower swings for the actual setup areas, you get smoother breakouts, though. I've posted about this some in other venues before.

I've seen Thales suggest similar exercises several times now, and I think it's kinda weird that I don't see more people trying them. If it's any enticement, I actually think drawing the highs and lows is kinda fun I know practice isn't as sexy as trading, but I'm certainly not above it when investigating an unfamiliar approach.

In the US, our "Thanksgiving" day is coming up, and I'd like to thank Thales for an awesome and informative thread.

[thalestrader]

Originally Posted by Don4 »

Thales, I would say that you moved your stop by now, is it somewhere around 1.6587.

My stop is now -6, but I am losing patience with this trade and price needs to get in gear to the upside soon or I'll pull the rip cord.

Here is a look at the 1 minute. Price needs 1) to get back above the doted black line and stay there and 2) get a move on to new highs.

I see a long on the EURJPY as a possibility. I'll try to mark the chart and get it posted. Looks like the buy stop would be 132.23/24

Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader »

I see a long on the EURJPY as a possibility. I'll try to mark the chart and get it posted. Looks like the buy stop would be 132.23/24

Current look at the EURJPY ...

Best Wishes,

Thales

[Gabe2004]

Originally Posted by RichardTodd »

Here you are. To get the style you wanted (i think? chart attached), select BoxStyle = true, and make sure the penAlpha is like 100 or so. The alpha is important because otherwise you won't be able to see through to the bars beneath. Note that it also now counts in minutes by default (it used to count in bars by default, but some charts have gaps in the data that would throw off the timing).

Hi Richard.

Thank you.
This is amazing.
I wish I could program like you.

Gabe

[Gabe2004]

Originally Posted by Kiwi »

I wonder whether you are achieving what I have done in some of my worst periods of trading Mk - cherry picking losers. I also, am not keen on be too soon but thats my personal view.

Cutting back to one pair, the one that's got the smallest spread - for the week. Notice I have a bias to trade only with the flow as defined by breaks of 4 hour bars.



Here is a suggestion: Why doesn't everyone practicing here stick with the same pairs that Thales is using - NO cherry picking examples from elsewhere and that includes you Thales

So, given it worked on these pairs for Thale's daughter, why not limit it to 4 and take every trade that sets up properly. EURJPY, EURUSD, GBPUSD, and USDJPY.

What are the thick lines?
I am having a senior moment...

Gabe