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Nemesis

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Everything posted by Nemesis

  1. Nemesis
    Ya a level before the fact would be cool.
  2. Nemesis
    Same thing could be said about the 1175 you plotted
  3. Nemesis
    You forgot this one.
  4. Nemesis
    Because my 15min chart has like 10 days of data.
  5. Nemesis
    My main chart is the 15min chart. Particularly regular trading hours, no 24 hour data, and and encompassing anywhere between 3-10 days. I also look at the 60min chart if the 15min is congested and requires further exploration. From time to time I examine the Daily and Weekly charts for key areas of support or resistance and/or for long term plays. When the market is reaching uncharted territory I might examine a monthly chart. I cannot make sense of intraday charts so I never look at them.
  6. Nemesis
    When the market is ranged You can short higher highs You can buy lower lows When the market is uptrending You want to buy red in pullbacks When the market is downtrending You want to short green in rallies How you do that its up to you, but that's my rule of thumb Dont wait for false illusions and end up using bigger stops and getting worse fills. Best wishes Nem
  7. Nemesis
    It seems to me that your method for trading without stops is underleverage ?
  8. Nemesis
    Im glad Phantom referenced his thread considering his shares and yours shares nothing but ambiguity.
  9. Nemesis
    The secret is no secret, is plain old hard work and realizing there are no short cuts, no magic indicator. To be precise. The secret is two fold and both very time consuming. One is research, the other one is attitude. I'll define research. Research to know the high probability areas of reaction. What has a high degree of probability of making the market turn in that particular area no matter the trend. Studying thousands and thousands of charts to recognize these special areas. Now attitude. Probably the hardest of the two to master. Attitude to understand accept that anything is possible, that you dont know how far things can go ever after they react, that the high probability areas are not 100% eventhough they are high probability and many other things that take a lifetime to master. The rest, the rest is irrelevant. Nem
  10. Nemesis
    If technical analysis really works, howcome there is no one method out there that can be used to trade consistently profitable ? If there was, there would not be any need for snake oil vendors selling their own failing systems. Usually three things happen: 1) The method is so obscured it can't be learnt or verified 2) Too subjective 3) It's truly a piece of trash. For what is worth, I'm in favor of technical analysis, just not the kind that is readily available because you can only teach yourself, and that's the study of price action. The stuff that really works takes enormous amount of screen time to grasp correctly, and that's assuming discipline and smart money management is in check. Unfortunately there is a lot of ego in this market, because afterall we are talking about money, this leads to lies and deceit. Tough business, tough career. Make sure you really want this before you make a decision, took me 6 long years to even begin to obtain a freaking clue.
  11. Nemesis
    Nice setup. Mine is simple, I use a Mac Book Pro 1 30 Inch Cinema Display and 2 Mac Airs.
  12. Nemesis
    Unfortunately, most traders don't come ego free, whether they are good or bad. When you see claims like this unless they are substantially backed with screenshots and explanations, just ignore them. You know how many posts of that kind you will come across ? Implement this rule, unless you can backtest the so called hints yourself, don't play scientist looking for answers. You could had been on the right track and random stuff like that derails you. There is nothing on the DOM but small little numbers cruising by. If someone is going to offer help, unless the person is acting like an open book, just cruise by, you are better off on your own.
  13. Nemesis
    Yes, it's an area not an exact number, particularly in a chart as big as this (weekly).
  14. Nemesis
    Here's a live example not in hindsight. Expect the first tests to hold, whatever happens next, it's anyone's guess, but the fact that we approached precisely this level just before new earning seasons is far from a coincidence. If you were long, as you should had been, this level was a magnet.
  15. Nemesis
    The gold is not found in the consistency, such consistency will only be found in strong trends, the gold in this lies in that they do act as mini pivots, allowing you to enter with minimal risk and landing a winner should you be right on direction; which is for the most part, the key to trading.
  16. Nemesis
    It's the ultimate slap in the face, the price action definition of a breakout. Imagine Resistance being the Bear and the Bull approaches him says right to his face you are now one of us, and the Bear joins the Bull to become one. Nemesis
  17. Nemesis
    My experience is different. I very much trust and rely on support and resistance, I just don't trust it when it's countertrend, strong trends know no obstacles. Nemesis
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