PTL Goes Daily
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Thread: PTL Goes Daily

  1. #1
    Starting to make the transition into trading off the daily, the time has come. Have tired of this intraday crap and are liking spending time in front of the screen. And of course these damn screens have blinded me. Less is more, I've been saying it for many years, now really beginning to see that its true, at least for me.

    Anyhow, this is a spot to post your daily levels, thoughts, observations. I understand people post them someplace, but you have to sift through a gazillion short term charts most times.

    By no means do I indie, or sign up for this idea that trading off the daily is far better than any other time frame. Nor do I scoff at people who chose to exchange short term. The daily is just as big a pain in the ass. Just that there are less trades to get involved in, and this, for the moment makes me joyful.

    So, lets keep it simple. Daily charts, ONLY. (Weekly and Monthly valued too ) A couple of spots that your searching at, or contemplating doing something, and that's it. No requirement for all of the gory details. No need to follow up on what the hell you did, or didn't.

  2. #2
    PS on the AUD, appeared a little further back, watched an older R turned S, which makes the area a bit more appealing....still just a handle, handle and a half until some significant R, kind of cramps my style....

  3. #3
    also considering shorts in GJ around 150.80, to get an opportunity at 147.80....


    Nothing else near by for now, end of the month soon, and that I have a couple trades to baby sit already....back later...

  4. #4
    yet another I'm considering for now, missed it earlier. . .been a powerful market, flagish against the old highs. .1.3340 the only real support in sight worth a flyer me thinks....outrights look decent too...

  5. #5
    2 patterns of market behaviour happen ona regular basis:
    a) price will either breakout of the large, low or either of previous bar
    b) price won't breakout of the prior bar
    that's the TA reason whay I am sorthing my country currency.
    The fundamental explanation is that british market is far better than my country market and I have a FEALING even from 3 years from today this trend will persist

    the alist which made me shot the commerce : after nearly 3 years ;m back into romania and I just see with my own eyes the corruption and other bad things, it;s a really bad country
    (some time ago used to be a lot of whores in my town but today they're gone in various countryes since there are quite fee men that could afford them)
    some time past buying high ranking politicians was like 150k-1 million euros, today with 1 million u can buy 3 or politicians

  6. #6
    Quote Originally Posted by ;
    2 patterns of market behavior happen ona regular basis: a) price will either breakout of the high, low or both of preceding bar b) price won't breakout of the prior bar that is the TA reason whay I am sorthing my nation currency. The fundamental reason is that british market is far better than my nation market and I have a FEALING even from 3 years from now this trend will last that the alist that made me took the commerce after almost 3 years ;m back into romania and I only see my own eyes that the corruption and other bad stuff, it;s a really...
    interesting narrative. . .tough trade, gambling from the countries currency, but sort of just like a hedge....difficult chart to read....good luck...

  7. #7
    Post some thoughts people, post some charts. . .its free...

  8. #8
    Quote Originally Posted by ;
    post some ideas people, post some charts. . .its free....
    Many of retail traders are trading intraday (they belif from the illusion of small risk, but the opposite is true) if they'll do appropriate research they'll learn that several patterns on 1h charts are going to have same volatility on daily charts.

    From time to time will make some counter tendency bets (possibly I take 3 to 7,8 trades per year just like this ) but risking less than when I'm following tendencies.
    On this tipes of bets I'm eager to go just Long on USD and shorting some whortless currecncies, or moving lond in commodities markets (corn, sugar, copper eg.)

    But even like its not that I'm going long in the low (the market it's bearish, nobody can select the exact bottom/top and markets can remain irrational greater than I can remain solvent) I'm moving long when the percived short term trend it's bullsih (you notice, actually trading counter-trends in actuality, in the very basic of trading you're doing fad trading).
    This is how I'm doing this : after an extensive bearish trend I will probably look for 3 consecutive bearsih days (or can look for just 2 consecutive bearish days) the previous 2 bearish days at the setup shoul be also the lowes bars in 20 respectivly 21 days, if following day price is breacking the highs of the previous 2 candles I'm going long. (if not just ignore the installation )
    the departure is chy
    p.s. from time to time will move long too CHF (yes the swiss because even dirty money from drug trafficking to human trafficking are flying into that country)

  9. #9
    Quote Originally Posted by ;
    quote most of retail traders ar trading intraday (they belif in the illusion of little risk, however, the opposite is true) when they will do proper research they will find out that some patterns on 1h charts will have same volatility on daily charts. From time to time I will make some counter tendency bets (maybe I take 3 to 7,8 trades annually just like this ) but risking less than once I am following tendencies. On this tipes of bets I am eager to go only Extended on USD and shorting some whortless currecncies, or going lond in commodities markets (corn, sugar, copper...
    as I mentioned, I have traded short term for a long time. I have nothing against it, how could I, I made my living on it for decades. But now I am interested in spending time in my desk.

    I should also say that whilst I am transitioning to daily amounts, and set ups, I will be looking to exit trades, at profits or losses quickly. I am not only going to sit stuff, well at least not my whole line, for ever.

    And exits are always tricky. Getting in is easy by comparison I'd say.

    Interesting method there, looking for the over stretched market.

  10. #10
    talking of this swissy, a few R about a deal away....will be contemplating it...

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