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Wednesday 16 May 2012

Chart time frames are more important than trading set up

Revised TradingRichF = Positive Visualisation*  (Mindset)+ compression/expansion +HiHiLoLo/SR/ema + LongTail/Doji/Inside bar + Chart Time/Tick/Volume Frame + Auto Stop -Loss (Physical)

The reason is this,  in yesterday's session my best setup exactly shown in 2min, but nowhere in my current  1min, 200t, 5 min...DUH

An analogy to a sniper :

Setup is the target position and its behaviour
Lot is the bullet, account is the magazine
DOM is the long range rifle.
Chart Time frame is the magnifying telescope.

Imagined if the sniper' s rifle has NO suitable telescope > then  he is NOT a sniper anymore

So yesterday lesson : Chart time frames are more important than trading set up...

2 respected traders mentioned that yesterday CL was tough to trade but for me it was easy peanut IF I applied the right time frame...the right telescope magnifying power.

Another lesson : Trading is very induvidual thing, but this lesson is well-known

* Positive Visualiasation is good for me as I'm not so jumpy during last 2 sessions as I strive for my best setup only. Before this, I wonder why I took some lousy setups...so its shows the benefit of PV 

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