Hi there guys,
Here was a really nice trade opportunity. I hope that a lot of you took it. Check out the charts.
I have a few thoughts that I want to share with you today. I really try to keep it simple. I wait for my set up and if I get confirmation like this on my micro charts, I jump in. I am constantly experimenting with my charts, making them more complex in the thought that more data is better. Most stuff doesn't stick though. More isn't always better. I want nothing to slow me down. I have a few patterns I look at and they are second nature.
I want my platform setup to be a lean, mean, money-making machine. My advice to you is to get rid of anything on your charts that isn't consistently effective, anything you don't really use or anything that slows you down or makes you hesitate. Master everything on your screen. I don't show you lots of the things I try and throw out. I want to show you stuff that works for me.
Its taken me years of hard work and study. But, at last, I have a style of trading that works for me. Now, I just work on refining it. I hope I am helping you, in this blog, to find your own successful style.
Be well,
MG
Hi Brian great post!
ReplyDeleteI wasn't around to take this trade but I was going over my charts tonight and I have the same setup on a 5k volume and the divergence did not present itself. Guess I will be using the 10k from now on. On the 10k volume chart are you showing the developing value areas or is that the previous days value area? I tried adding a FP bar stats on the volume chart but it doesnt seem to work. If you are using the TPO indicator do you have it set to volume based? Thanks for the help
mic
Hi Mic,
ReplyDeleteThe frustrating truth is that divergences will sometimes show on one time frame and not another. Cause I got a clear divergence on the 10K and you didn't on the 5K doesn't necessarily make one better than the other. I keep a 10K and a 2500K up. I am sure there are days that i might change those settings based on market condition. Maybe next time, the best divergence will be on a 5K. Sometimes you win and sometimes you lose on this kind of thing.
I was able to add a FP bar stats with buy volume and sell volume, but since I keep the chart pretty scrunched, the numbers are unreadable. It's fine by me cause I want to keep this chart real simple.
My TPO is volume based.
MG
Nice Blog and charts, look forward to the seminar.
ReplyDeleteAwesome that you share your work with others. Your charts, graphs, profiles speak volumes!!
ReplyDeleteThanks so much for the feedback guys. Its much appreciated.
ReplyDeleteMG
"I want my platform setup to be a lean, mean, money-making machine. My advice to you is to get rid of anything on your charts that isn't consistently effective, anything you don't really use or anything that slows you down or makes you hesitate."
ReplyDeleteÜber-scalper Don Miller has only a handful of things on his screen and echoes your K.I.S.S. approach to charts.
Good blog, I'm adding you to my Google Reader.
Great to have you Kevin
ReplyDeleteMG