As I have watched price charts over the many years. And trying to find that method that works for me. And having tried many (others) methods or attempts at methods. I keep coming back to what catch's my eye, what speaks to me.. I will have to admit here first I thought about Quiting, Moving on. Astalavista baby. But then I stopped and asked myself - whats the problem here. You don't really have a method of your own. One that you stick with, one you tweak to make it work. So then - what speaks to me. How do (I) want to trade ?
So that brings me back to the thing that catch's my eye. It is nothing special. everybody talks about it.
So what do I like about it ? It lets me know when I am wrong and where to put my stop. Its my line in the sand. It allows me a small risk. It is method that forces me to watch the chart. focus on the price action . wait for certain things to happen. It takes the (guessing ) out of it all somewhat.
So this is it. Phils method. the one he will work on , tweak and master.
Phils trading method
What is a DT or DB ?
It is where the market fails to go any farther than that point in price.
As long as they hold a stop beyond that point will never get hit.
What is a HL or LH ?
It is where price fails to get to a previous swing end point. It is a sign of weakness.
A sign of weakness means that they have failed to move price beyond what they would like.
When weak then the strong take over and price goes in opposite direction.
When price goes in opposite direction then a break on a small swing trend line shows strength.
The set up-
Visual #1 are we in up trend, down trend, or range.
Visual #2 do we see a HL(weakness) in a up trend ?
Visual #3 do we have a b/o of small swing trend line?
The area above the b/o of our (working) area to do business.
The Monster Within Me
Derivative transactions are not suitable for all investors.
Past performance is not indicative of future results.
The information provided here is for educational purposes only.
The Monster Within Me
There is a monster within me. His name is Phil. These are the journal's that will record my battle with the monster and his attempt to keep me as a losing trader. But I will prevail and learn to control this monster within me. I will be a great trader, I will be in control of who I want to be.
I will SLAY THE MONSTER within me so that it can no longer control me and my thoughts.
By becoming an Observer of the self, I give authority to the Empowered parts, to be all I can become.
Brick by Brick
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