Ideas for Struggling Traders | Thread profile

I received a few PM's from people that found the thread on ET worth pursuing. I'd welcome any and all feedback for others to see. The premise behind the system is one that seems easy to follow and I've been watching it intra-day to see how it runs. Still too early to say much other than, candles print like crazy on a 2401 constant volume chart, that's for sure. Interesting premise w/ the ...

I think the main point is trading with price and volume. I am familiar with that thread, Steve 46 and Prof Logic. You would get similar results with 2000 CVB IMO. In the past Steve was a proponent of VSA which you obviously aren't. I think a logical argument could be made for using market profile, since it's price and volume as well. Price and volume, the lowest common denominator for ...

Quote: dandxg Armed with those three you don't need anything else. Yeah, but it's much easier for people to have something tell them to enter. Price and volume alone requires a good amount of understanding of whats going on between the buying and selling pressure. ...

This is kind of OT, but I have realized that traders who tend to struggle the most (really just don't get it) are simply trading the wrong market Or they don't give enough effort and screen time - again because they don't care and are trading the wrong market. That's probably for a different thread, but I like the idea of some basic trading rules to help someone get started. This could ...

Quote: Jwhite198621 Yeah, but it's much easier for people to have something tell them to enter. Price and volume alone requires a good amount of understanding of whats going on between the buying and selling pressure. Most people would rather wait for the green light to go long and the red light to short. This is all ...

Quote: Bearbull , I would say relevant support/resistance zones as primary , then price action at these levels, as Dbphoenix has pointed out, if your strategy requires you watch too much (indicators etc), you need to re-evaluate the strategy. The choice is up to the individual....

Absolutely, it is all about finding a strategy that suits your personality and then applying with discipline, I should have emphasized "too many indicators", having seen some of the charts posted on Woodie's website, nothing wrong with filtering out trades with use of stochastics, RSI etc and taking those with high probability outcome.

Quote: brownsfan019 If the individual is making consistent $ with 10 indicators on their screen, why on Earth change that? Agreed. But I've followed enough new traders around (and this applied to myself as well when I first started) to know that most new traders start...

Quote: brownsfan019 If the individual is making consistent $ with 10 indicators on their screen, why on Earth change that? How true. It doesn't matter what you use as long as you are making a profit. But I also think that new/struggling traders are using too ...

I am not a big fan of what most people refer to as "indicators" myself but use the EMA's and SMA's as what some people refer to as the lazy man's trend lines. Knowing how to read charts simply by price takes a long time to learn. It is probably for the best that new traders use indicators in the beginning to help them understand the way price reacts. I know I started that way and then after...