3 Lines.
Sometimes all you need are 3 lines, they don’t have to be this unpleasant shade of brown though. If I had drawn them early on in this chart then I would be very rich, the trick is not to draw them so late that you are poor, I drew them somewhere inbetween those two extremes.
They don’t always work (which is why you use tight stops), there is not an exact level at which to enter (which is why you intelligently position entry/exit) but they work well enough, often enough.
Happy New Year LW!
daytrader233
January 5, 2010 at 3:48 pm
Happy New Year to you as well, I was starting to think that traders hibernate!
long&wrong
January 5, 2010 at 5:58 pm
CHARTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
julesinjumbles
January 5, 2010 at 5:32 pm
… and traffic is up an infinite percentage (anything divided by zero is infinity!), you were right
long&wrong
January 5, 2010 at 5:59 pm
chart’s missing something….
Your trades.
LOL!
julesinjumbles
January 6, 2010 at 6:06 am
Watch this space for an idea I have on that topic, I am ‘letting it ferment’ for a few days just incase it is only temporary new year energy and enthusiasm.
long&wrong
January 6, 2010 at 5:50 pm
Now that I don’t have to stare at my Dell order status all day I will be staring at your blog waiting for this new development.
Do not let me down or I will send annoying e mails to your superiors.
solfest
January 6, 2010 at 6:51 pm
I’m trying to work out what effect you trading with 2 big, new, shiny monitors will have on the price of oil!
It’ll be a bulk mailshot, everyone is my superior ;-(
long&wrong
January 7, 2010 at 1:16 am
[...] and getting good at using it (again with X's Chasing Success, and even more simplicity in L&W's 3 Lines). I have to get focused and get back to basics. I took a few minutes to review my [...]
AttitudeTrader Trading Journal - Trading Journals - Page 2
May 5, 2011 at 1:26 am