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Strategies & Market Trends : Trade What You See, Not What You Think -- Ignore unavailable to you. Want to Upgrade?

To: TraderAlan who wrote (272)	1/18/2001 8:40:24 AM
From: chris-	Respond to of 867

We need to peek at the price mechanics in cycles longer than the ones that we're trading for several reasons. First is trend hierarchy. Simply stated, trends in longer time frames take precedence over those in shorter ones. Second is support-resistance. As my neverending quest for "holding profits longer" continues, I'm looking to chart language to possibly aid in this. As you probably realize, our perception of straight tape reading principles normally do not allow of such long term holds as we aren't looking at support resistance levels for 15 mins out, etc. I can enter the trade or beat the majority into the trade when the signal says enter offering myself more of a cushion than "forgive me", but slower traders, which add up over time..However, they seem to be able to take more out of the trade on the back end by a better exit price. I'm looking for some sense of abilities learned, possibly in chart analysis to maybe allow this. i.e. I enter full lot or in some cases, double lot using my tape reading principles reading strength, then using chart reading to allow myself time to work through the wiggles. At points when the chart said, get ready to exit at least a portion, I can then use my understanding of the tape to exit into the right area. Obviously this is all just theory as I haven't traded in this fashion yet. i.e. Selling 1/2 the lot at where I'd normally exit on tape reading principles, allowing myself cushion to the let the rest ride a bit with longer time frame. What trap I do not want to fall into...allowing myself to see things on the chart that "I want" to see. Cognitive illusions were a big downfall early in my trading on seeing only things that I wanted to see, rather than what reality was telling me. I want to make sure chart reading ability, as I continue to develop it, is based on reality, not on false assumptions and weak foundations. Looking forward to adding this dimension to the power of tape reading "in the moment" as I see it. Thanks Alan, I'm sure I'll have few more questions as I dig deeper. Chris

To: TraderAlan who wrote (272)	1/18/2001 8:47:50 AM
From: chris-	Read Replies (1) \| Respond to of 867

Alan, As I read more into your message, you begin talking of correlations of specific number of bar periods and Bollinger Bands. Do you have any specific pages on the site that best show visuals on what this is showing? I see you finished the course on your site..congrats...I read over the Table of Contents and it looks to be extremely helpful, esp. for those in TA diapers like myself :) Any visuals or explanations on the site would be appreciated so you don't need to type it all out again :) Thanks, Chris