forrestang

I think the top 3 are not going to useful to take money from other traders. I know this will sound vague and unhelpful, but the most sensible thing on that list imo is, "Learn when to enter and exit the market."

This list is really eye-opening. It is wise. I can say that I really have conquered all but #7, and sometimes #5. I think I am willing to put in the work required, I feels as though sound logic is there, I understand that all responsibility for my success rests on the trader's shoulders. Seldom, even with sound logic behind a trade, I sometimes hesitate, hence #5. Also, since I have not 'mastered' the art of trading, the many bumps and bruises I have gained on my path may have led me to be skeptical on any success I may have, hence #7. Thank you for posting this.

I would be more interested in what you mean about risk/management principles. FP

There is absolutely no point in withholding anything with regards to a discretionary method (a'la Wyckoff). Discretionary methods do not have a problem with being market effecting, nor will his customers find the same trades he does. So it's not like him sharing things would have him fighting for liquidity with his customers. I doubt he is keeping anything secret related to the info on his DVDs.

When you have an opportunity, could you further explain this?

I have an EU chart for some analysis. First let me ask, is the idea to define the trend based on HHs and HLs? I am attaching a pic showing the basic trend that everyone has understood for a while. Is this how you would go about defining the trend similar to this pic. Also once you have that HH or LL, is the idea to then enter on the next pb once that trend has been defined as shown in the picture? Also, you are willing to take countertrend trades against the direction of the OVERALL trend, as long as it matches the direction of the current leg you are trading correct? Next, just attaching a picture of the EU action currently. Right now, there was a LL put in place, now we have a HH. So does that mean this current pa is just still stagnant and we need to wait for a trend to be put in place?

So when would you know? Would you consider that PPF that occurred(the major one on the right of the chart) a Prime PPF to confirm that top? Or would you need to see a LL created first?

Some observations on the primary trend for EU with regards to this thread. I think the pic is self explanatory, so post if something doesn't make sense.

I have a few questions on the way the chart is built in NT7? Say I had 1 chart open in NT7 with the indicator set put on them. The labels that are on the price..... They are the labels that would be created by the oscillations based on the ERG from the NEXT FASTER chart correct? OR..... is the erg present on the chart simply create the labels based on minor oscillations from the erg on THIS CHART, and the prime oscillations used to measure STRENGTH. By 'Strength' I mean say a prime oscillation occurs on the chart, and this places the major swing points.......that is the MAJOR trend like L-H-HL-HH? And all the PPF labels are created via the minor oscillations of this erg? I guess I am asking using the NT7 indicator, how would I set up my charts? There are 3 settings, Trend, Strength and Trading. Would I need 2 separate charts, or is all the information needed on one chart? If any of that makes sense?

Looks like a possible Trend Change to downside of current range. Again, will add or reverse if necessary. Will look to adjust stop on reaction. ----------UPDATE 8:11CST----------------------------------------------- Possible scenarios I'm watching. For EU, currently bidding on a breakdown. But could bounce off of support and complete this bull wedge or whatever this thing is with some strength to upside. Or we could just consolidate for a while. For GU, like Cory has, could break out of this channel with some vigor to upside.

Looks like my stop was violated. Currently just a tad violated. There was that support below and that OS line down there that provided a bounce. So will just be waiting for a bit. Might just have some consolidation for a while after all that movement during the end of last week. But still two pretty nice ranges so far. I'll be waiting for some movement out of it to get some action.

Currently short GU. Stop currently a bit above, if this winds up consolidating into a bull wedge though, will reverse if necessary later. But so far willing to sit through a bit of volatility. If trade continues, will add if chance arrives. --------------UPDATE 2:30CST--------------------------------------------- Still no real retracement yet, but adjusting stop to 1.6363 reducing initial risk by about half.

Current look @ G/U and E/U. Will see what develops in a bit with these two trading ranges here.

The labels that used to be there seem to be gone, but it looks like you're selling as price is making HHs? Like on that leg up at the beginning of the chart? I was under the assumption that the idea was to sell LHs and buy HLs?

Yay! Me too. I have a few questions if you or anyone else has the time. The Theory: OBJECTIVE buying and selling of HLs and LHs. As stated elsewhere the idea isn't necessarily trading trend, but trading oscillations. Overall trend is determined by the erg from the 'strength' chart, which is one fractal higher/slower than the 'trading' chart. If that erg is above zero general trend is up, so we'd be looking to buy HLs? If the erg is below zero, general trend is down, so we'd be looking to sell LHs? I guess the next line of questions would be WHEN to enter on that pullback that is occuring? The idea is to wait for a 'Prime' pullback of the HISTOGRAM on the 'trading' chart, or your MIDDLE bar interval chart. Once this occurs, the entry, is it based on an oscillation of histogram color of the MIDDLE chart, or do you look to the ENTRY chart, and look for an entry as the erg from the ENTRY chart breaks back through the prime level? The exits I am unclear of. I have read the rules, the problem it seems is the deciphering of what all that means if that makes any sense? I have attached a pic of the idea as I understand it so far. I am HIGHLY confused still.