Hi KIY, READ AFTER HOURS
Thank You for remembering me - Been thru an up/down cycle myself - not bought or traded anything since the cat calls - I can admit something now, I thought you had posted the CAT chart indicating a bounce coming, and when the short term charts pointed to a bounce, I did the deed, and GAMBLED with the very short term options, that would have made money if I had bot 1 week further out!
I misinterpreted you, didn't ask to clarify, AND made a counter-trend play, AND played a gambler's "Too Short Date" option, AND lost...
ANYWAYS, I learned something AGAIN, and have only been checking this board and Mr Market couple times a day, and sometimes not for 3 days.
I missed the up cycle in TZA, my head is just starting to get the right attitude to watch more often and practice patience - had a friend use the extractor to get my head outa my armpit!!
I get that way sometimes.
[i]So a KEY here is get daily direction correct and then its up to the signal lines of the technical indicator if the trade is working or not...to buy or sell...it isn't you...or me...it is simply signals at signal lines. The only smarts you need is to listen to the signals at signal lines and take action.
***3rd ...you need to get "DIRECTION" correct...TRADE the Daily Chart's DIRECTION (it really is that simple)...I call this direction the daily "BIAS"...trade with the daily Bias on your side...
Basic TimeFrame Charts...there are some very simple cycles going on here... Intraday cycle...Daily cycle...Weekly cycle...learn to recognize them by examining the time frame above and below the time frame you are trading. The definition of "cycle" here is oversold to overbought to oversold with the use of the CCI Indicator.
Exclusive 30 minute time frame trades would focus on 15/30/60minute charts when all are overbought or oversold (note 30minute will catch the most points of a move...not the 60 minute chart signals)...starting as 15 minute CCI indicator crosses its overbought or oversold line. When 15 minute CCI reaches centerline you step up to the next time frame, to being exclusive 30 minute's CCI signals. The CCI indicator has 3 signal lines overbought...centerline ...oversold...that ask you to take some action...here you are asked to either step up to the next time frame or buy or sell as signals happen at the oversold/overbought signal lines...it really is that easy...the best trades are "only" trade with the direction of the daily CCI indicator. (no magic...super special intelligence...just signals at signal lines) You are only as good as your next trade. You now know the intraday basic cycle for daytrading/swing trading.
The next would be the daily has its own CCI cycle...and always from any of these time frames; the best trades are with the "direction" of the daily CCI cycle.
And the weekly also has its own CCI cycle. (to learn more about TimeFrame trading...Kiy System...TimeFrame Trading )
