Philosophical Question - Getting the most from a trade

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Trader Question
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Philosophical Question - Getting the most from a trade

Post by Trader Question »

Regarding "getting the most out of a trade", been thinking on that a little lately as we gear up once again. Noticed within myself here that confusion sets in when trying to apply the bulk of P&L (lessons) to any given trade. Specifically, where the H-HTP and higher (5yr, Y, Q), factor into our trade (watching more than 3 TPs), such as T-Bonds the last few weeks. (Perhaps I should send a chart later) It seems I am able to trade reasonably well (thank God) using three TPs (M,W,D). I am weak in bringing into the equation the 5Y, Y, and sometimes the Q charts. As an example, if I'm trading D Cong-Ent, and I see D C-Ent up setting up in Wsu & Msu but price is in or above Qre (see T-Bonds June 05 about 116), do I need to be all that concerned about taking that Daily trade (buying) and exiting when D C-Ent occurs? I understand we don't want major long positions up there and we should be aware where we are. Don't we want to take reasonable trades as the D vibrates within the Q, Y?

CLG
pldot
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Re: Philosophical Question - Getting the most from a trade

Post by pldot »

===timeframe trading is largely a matter of personal preference. Yes, of course you are likely to want to trade the vibrations in the Q and Y.. but are you looking to trade doily focus, weekly, monthly? Think of it as "harvesting" a developing bar. Which bar are you trying to harvest at once?
===Few people can mentally handle five timeframes at once in multiple markets. Don't compare yourself with Charlie in this regard since he is an unusual person. Try to have a general mental "background picture" of the larger timeframes and let it go at that. If you want to go deeper then review the gold trading movies in the Institute, or the longer-timeframe lesson.
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