A second entry with some strong bars preceeding it
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ahwilliams30
- Posts: 37
- Joined: Thu Oct 27, 2022 11:36 am
A second entry with some strong bars preceeding it
Mack marks this trade red but I skipped it on the basis of bullish strength leading up to the trade. Questions/analysis included in picture.
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Re: A second entry with some strong bars preceeding it
Well, no reference to date or times listed. That could be 30 minutes or 2 hours on tick charts. With respect to the larger timeframe it can make a difference. The ema isn't showing tendency of holding prices so its relevance isn't as strong. The selloff was highly directional and very strong. The bias is still downwards. The doji is a pause.
Also, it isn't whether Mack marks something green or red/blue. It is whether one understands a trade and is matching against Mack. Many attempt to match trades against Mack and this leads to frustration. A few years ago I asked Mack to color code against probability vs his coding. Many members were given the opportunity to provide feedback as Mack asked the open forum and my idea was down voted.
If working the channel through the first reversal, then the trade can be overly aggressive. Wait for a lower high. Better is whether you observed how prices printed as the bar was created. This is what you should be watching. You will notice that the bars print differently as the bars are created. There are very good signal bars that prices "move through" cleanly. This gives you an indication of persistency and continued expectation.
Any 1 trade doesn't matter. Finding consistency on trade selection is the key.
Hopefully helpful and good trades to you!
Also, it isn't whether Mack marks something green or red/blue. It is whether one understands a trade and is matching against Mack. Many attempt to match trades against Mack and this leads to frustration. A few years ago I asked Mack to color code against probability vs his coding. Many members were given the opportunity to provide feedback as Mack asked the open forum and my idea was down voted.
If working the channel through the first reversal, then the trade can be overly aggressive. Wait for a lower high. Better is whether you observed how prices printed as the bar was created. This is what you should be watching. You will notice that the bars print differently as the bars are created. There are very good signal bars that prices "move through" cleanly. This gives you an indication of persistency and continued expectation.
Any 1 trade doesn't matter. Finding consistency on trade selection is the key.
Hopefully helpful and good trades to you!
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ahwilliams30
- Posts: 37
- Joined: Thu Oct 27, 2022 11:36 am
Re: A second entry with some strong bars preceeding it
Sorry I forgot to include the day - it is March 7th, 2023. If Mack doesn't mark trades green/red/blue based on probability, what do the colors mean? I thought that blue/red were 90%+ trades or so and green were maybe 70%+?
I'm glad you added the point about not measuring against Mack's every trade. Recently I've shifted to this way of thinking but I've noticed that its lead me to take more aggressive trades as I see something and think "well, Mack might take that" instead of being fully confident in my own read.
I'm glad you added the point about not measuring against Mack's every trade. Recently I've shifted to this way of thinking but I've noticed that its lead me to take more aggressive trades as I see something and think "well, Mack might take that" instead of being fully confident in my own read.
Re: A second entry with some strong bars preceeding it
Aha! Yeah.
Reds & Greens are trades that Mack likes as conservative or aggressive, but are not probability based as such. The rules which we outline parse the trades into better probability and allow for easier consistency. Over time, with familiarity one then can bridge into what is comfortable.
It is about consistency & training one's own vision. Attempting to "match Mack" can lead to a very, very, very long road. Much stronger is what one trains to see & take, and you will find the rules which are outlined lead to a very high matching rate.
Hopefully helpful and good trades to you!
Reds & Greens are trades that Mack likes as conservative or aggressive, but are not probability based as such. The rules which we outline parse the trades into better probability and allow for easier consistency. Over time, with familiarity one then can bridge into what is comfortable.
It is about consistency & training one's own vision. Attempting to "match Mack" can lead to a very, very, very long road. Much stronger is what one trains to see & take, and you will find the rules which are outlined lead to a very high matching rate.
Hopefully helpful and good trades to you!