General Trading Chat

[wisp]

Yes,my friend, my point is also this clarity, if this is too subjective, I have problem following it in live market. Being a price action trader I would want to be least subjective so that its easier to take decisions when trading live.

Bro, the method's originator, Saint has included it in his method, so obviously for the method to succeed ERL is needed. ST Da has very good clarity on the method, so we are trying to understand ERL better with help from ST Da.

Of course various other filters can be included based on each trader's comfort level.

 

[TracerBullet]

Yes,my friend, my point is also this clarity, if this is too subjective, I have problem following it in live market. Being a price action trader I would want to be least subjective so that its easier to take decisions when trading live.

sry, maybe i didnt write it correctly. Subhadip thread in itself should be enough, but we will always have time when things are not clear, ERL or not.

i just decided to learn it and so now got confused in this case.

 

[wisp]

sry, maybe i didnt write it correctly. Subhadip thread in itself should be enough, but we will always have time when things are not clear, ERL or not.

i just decided to learn it and so now got confused in this case.

:lol::lol::lol:

I think ERL needs some filters, we cant use them everywhere, may be certain market conditions required before we start applying ERL, I think I am missing the fineprint in ERL. For e.g. may be how price is moving etc. some conditions required i think especially for taking contra entries.

 

[vivektrader]

Bro, the method's originator, Saint has included it in his method, so obviously for the method to succeed ERL is needed. ST Da has very good clarity on the method, so we are trying to understand ERL better with help from ST Da.

Of course various other filters can be included based on each trader's comfort level.

Wisp bhai, I think you are in know how of this method for many years, if you are having problems with the subjective part, I am already thinking of some workarounds

 

[Smart_trade]

Sir can we trade IDF reasonably successfully even without using erl. I mean we may miss some (small move) counter trades or enter a bit late, but still be successful using our pivot method only.
Thanks

No,for pivot upgrades which is most important part of this method,we need good knowledge of ERLs.But what we get is mERL..visual ERLs we get at trend reversal so if you get half a dozen VERL in a continuing trend that is a sure sign that we are micromanaging and will have losses.

Minor Pivot above VERL is a signal to go long.

Few traders don't use ERLs and on VP,MP they can get good trades. In the charts posted by many above, one does not need ERLs.

Smart_trade

Smart_trade

 

[Smart_trade]

If someone can trade with AlBrooks etc...then he should delelop that method.I tried AlBrooks but was not successful with it....my fault, so I had no choice but to learn ITF and all its subsystems.

ST

 

[vivektrader]

If someone can trade with AlBrooks etc...then he should delelop that method.I tried AlBrooks but was not successful with it....my fault, so I had no choice but to learn ITF and all its subsystems.

ST

Sir, I can't vouch for that method either, coz I am at best amateur in that too, what better I found was in the reversal part only, where I think it's more visual (like retest of extreme) than drawing the line.
There too AlBrooks time and again warns against taking most countertrends and advocates with the trend enteries.

 

[Smart_trade]

ITF was taught to 500 traders but not even 10 are masters in it...why ?Because these traders understood the soul of this method and did not use it bliendly...they also developedt their own applications which gives them huge edge....

ST

 

[vivektrader]

ITF was taught to 500 traders but not even 10 are masters in it...why ?Because these traders understood the soul of this method and did not use it bliendly...they also developedt their own applications which gives them huge edge....

ST

Sir, I am a little confused, are you implying that I can tinker with it a little bit and will still be fine or the system should be followed to the tee.

 

[Smart_trade]

Sir, I am a little confused, are you implying that I can tinker with it a little bit and will still be fine or the system should be followed to the tee.

Yes any system can be traded more intelligently...that is where experienced traders score. I will give you following example .

We know that we are shorting the VPL ...now imagine that we are in uptrend and the upmove shows tiring out signs...now we get a minor downtrend....at some point it exhausts and we get a minor uptrend....making VPH....now we make a lower VPH....so in the new minor uptrend,the moment a mpl is cracked, we have what is known as likely visual downtrend....so instead of waiting for VPL to crack,we start short trade much higher with a small stop of mph.....method will not tell you this and traders keep waiting for crack of VPL and visual downtrend is confirmed...and enter too late...

Are you all with me ? This is how a good trader works with the method.

ST