Again, I was wrong. How about this... To heck with mentoring without some examples called out by recognizable agreed upon criteria for buy or sell to enter hammered out beforehand by the gang that is tuned in to the session. How about if you are aware of a setup that fits the above situation. How would you react to this situation? 1) Do you see any obvious Setup Triggers on this chart that would be worth Calling Out? 2) What date and time did they Trigger? 3) How would you identify them with Three Words, e.g "Engulfing at Resistance at X:00 on such and such a date..." ...or anything that can be conveyed to another person who can pull up a similar chart with similar crap on it, like maybe standare 200ma, 50ma, 8ema, whatever, the point being that the support and resistance would be obvious at such and such a time for such and such a setup and trigger. Lets give it a shot. Say we were both looking at charts identical to the one below... 1) Do you see any obvious Setup Triggers on this chart that would be worth Calling Out? 2) What date and time did they Trigger? 3) How would you identify them with Three Words, e.g "Engulfing at Resistance at X:00 on such and such a date..." You may already be your own expert. Give it a shot. What stands out as a setup antrigger. Yes, it is in hindsight. It is still informative as to how it "would have played out". Give it a shot... Anybody else?, give it a shot, what the hell, nothing to lose. Post one for me when you have the time and inclination...
Hello easymon1, lol, sorry man, ES whip my black ass today man. my brain is too tired to even think. Whatever @MacBookProHo says is correct. He is the man. Listen to him if you want to be a Millionaire in 1 year.
using the support found on 8.15 lows. price came back to the area of support. once price zoomed up to confirm buyers and entry via BUY STOP at green arrow with a stop under low candle wick. copy and paste the distance of the first line and use as a target for the trade and exit it red arrow. the setup trigger is the are of support via green rectangle and the buy entry is the evidence that buyers took temporary control at entry. Wide Range Bars on 8.18 at 4:00
second set up short. seeing that price created a shelf on the top left and sellers took control trigger: the retest of price back to the shelf. sell the breakdown of the retest (via SELL LIMIT ORDER) and stop above the retest high. move stop down to above next confirmed lower low. exit when buyers take control on the massive price move up as the impulse reverses. all other chart drawings can be removed. No other technical indicators or moving averages needed. Wide Range bar on 8.14 at 0:00
hey man, I posted a clean chart over here, c'mon over! link... https://www.elitetrader.com/et/thre...t-right-here-baby.343012/page-21#post-5661733
Ironman, How you like to use wide range bars. hey man, Keep on Posting! Put up some charts from your own dealio and call 'em the way you see 'em. They don't have to be up to the minute, these are for informational use and to initiate conversations about the different ways that traders use their charts to inform their decisions to buy or sell to enter a trade. There are no two traders that trade alike, like fingerprints. All different. More the merrier. Artistic traders? Bring your Marked Up Chart and Come on Down! Intuitive traders? Bring your Marked Up Chart and Come on Down! Technical Analysis traders? Bring your Marked Up Chart and Come on Down! Price Action Traders? Get the hell over here! link... https://www.elitetrader.com/et/thre...t-right-here-baby.343012/page-21#post-5661738
Mentorship is extremely important, especially for new traders just starting out. Being mentored by the right person at the right time will assist you in effectively growing.
Having a mentor is good but I feel self mentorship is more important because in the end a mentor can’t spoon feed you, it is just your level of understanding and perception which will make things work out in trading for the long run.
I agree with you that mentors can be a great help to new traders because they can give unbiased advice or opinions based on their relevant knowledge and experience.