The entry setups I'll be starting with will be pin bars or hammers and shooting stars. Closely related are things James16 would call Double Bar High with Lower Close or Double Bar Low with Higher Close, or DBHLC and DBLHC. These are basically two bar pin bars. I take these at extreme swing highs or lows as long as the environment I see on the screen is to my liking. Environment to me is previous support and resistance zones.
Exits are a whole other matter, but let's just say that I select entries that have certain environments where it is easy to see where price might stall.
I tend to see the market as a sideways market. The zones where price had trouble moving through in the past are areas where there was a battle between fear and greed for the right to move price. Because of this battle, more fear and greed was created and if price gets there again, you can be sure there will be something interesting.
For those that care, I'm male college student in SoCal and I started my trading journey March of 2009. Trading is my passion now, and as some already know about me, I don't waste time or effort as long as it keeps presenting me with problems. Other hobbies hit a plateau due to cash restrictions or running out of interesting problems to solve, but trading is wickedly deceiving in depth. Being a first generation college student, I'm piss poor so I need to hustle to get through. This means I won't have much time to write in this blog but I'll be sure to try and compensate with quality.
The purpose of this blog for me is still up to debate, but since everybody seems to like looking at charts, we'll start with that. I'll try to get one up as soon as possible, but week 10 starts Monday and schools never been my thing...
I don't want to make this too long so If anybody ever reads this and has any questions or relevant comments, feel free to express yourself here.
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