After baptized with fire and losses in 1994, I started on my journey in search of "truth". My first exposure charting was 1994 and occasionally I would have a friend call Mr K mentioning that ... Arrr the weekly chart hasn't turn during one of those few days of corrections in the KLSE (now called BURSA). This statement did not register as important to for many years. Why? After the bout of losses, I am only focus on immediate recovery. We had only Daily charts! I wasn't interested in weekly charts and trend. Weekly charts can be easily displayed using the daily chart data with time frame selection on any charting software. My road and mind was on immediate profits to recover my losses. I didn't have the patience to wait. I wasn't ready to wait. I wanted immediate results.
Between 1994 to 2008, my focus was daily and intra-day chart trends. Despite developing new and simpler systems my mind was fixated on intra-day.
As time passes post 2008, I start to reflect and re-look into the whole system, time frames and trends. My mind start to travel back to 1994 and make me re-look into the time frames especially weekly closely.
Suddenly, it dawn upon me the validity and reliability of weekly trend charts. There is no need for me keep reacting to price volatility of the daily as long the weekly trend is intact. This is exactly Mr K said back in 1994-1999.
I was pre-occupied with the desire for immediate actions and results. I was engrossed with recovering my 1994 losses. I was wrongly focusing on predicting and forecasting market target levels instead of following with the trends.
The moment I woke up and realize the importance of simple weekly trend, I finally saw the "eureka discovery" which was right in front of me for many years. Because my mind is fixated on something else, I didn't notice what is in front of me.
The obvious next question is when do I use lower time frame Daily instead of Weekly. What situation warrants me to use Daily chart over the preferred Weekly? While weekly chart is the preferred weekly trend, there has to be situations and conditions when Daily chart is more appropriate. When I finally solve this puzzle, than timing the market becomes more accurate, reliable and less erratic haphazard.
Can the timing be off or wrong? Yes, it is possible BUT this can be managed with using other tools in the indicators library to minimize the risk of wrong judgment.
The directional trend has peculiar and repetitive behavior that is revealed on the indicators pattern especially the MacdH. Over the last 20 years, I have analyzed in details the behavioral pattern of MacdH with the trend over different stages of the start to the end of one trend cycle. If one were to observe and notice the patterns between the start to the end irrespective a rising or down trend, one should be able to visually see the indicator patterns manifesting on the chart.
In my opinion, the 2 best tools to track and price trend is the moving averages and trend lines. They can be used jointly or separately depending on one's proficiency.
When take the time and effort to study the moving averages and trend lines with basic simple MacdH and RSI, this should be more than sufficient to navigate the market safely, easily and profitably. I have horned my expertise on RSI and MacdH for all products that I trade and all time frames.
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