Velocityshares 3X Inverse Natural Gas Etn (DGAZ)

[Sendme]

TY It's not that the charts don't work IMHO, depending on the time frame you are using depends on how often you have to look at the chart. 5 minute chart requires a lot of attention AND requires that you trade the 5 minute chart.

Most of my problem is when I think what the price will do instead of just trade the chart and take the odds of them winning vs losing. Not all patterns win all the time.

I admit that trading with charts takes a strong discipline to trade the chart and don't trade what "you" think. Yes that would be trade without emotions as we have probably all heard of. LOL

This was a trade taken on the 5 minute chart based on the fractals and the RSI. So when the RSI failed to stay above it's trend line I should have exited the trade no questions asked.





Then there is the fact that there are a lot of patterns out there that if one is going to trade patterns, it does take a lot of time to study them.
Again I will add that while in the process of learning them, it may not be the best idea to start trading with real money just yet. LOL again.







Yes, posting charts after the fact doesn't help in the here and now, but they are there and if one has the patience and time to look for them they can be traded. Catching patterns in real time is an art form in and of itself no doubt.

Patterns hold to the exact rules of entry and stop loss on all time frames. Time frames under 60 minutes do require sitting in front of the computer most of the time, I understand that some people don't like that.

There is no doubt that NG is in a bull trend so with that in mind trading DGAZ should be taken as a counter trend trade and scalping should be the sensible way to trade it for now. Again a rule that I neglected on my last trade. No fault of the charts.

Best of luck to all here.