Bear's Thoughts
Who knows the enigma that lurks in the minds of Bears…. Only the Shadow. ( evil laugh in the background )
To answer Charlie's question.
The bear is a reversal trader, the proverbial top and bottom picker. Strictly a technical trader, I don’t get caught up in the news, figure the people in the know, already know, and they ain’t telling except it’s shown in the charts.
I use a combination of:
Not necessarily in this order,
(a) Elliott wave on all time frames, starting with the weekly, daily and working down
(b) Andrews Pitchforks
(c ) Fibonacci levels in conjunction with chart patterns
(d) A plethora of Gann, Jenkins and Gilmore techniques.
I prefer to trade complete waves trying to get it to where I’m trading on 3 different time frames. What would be positional trades, lasting for weeks “preferably carry“, swing trades 2 to several days and then intra-day. Some of these will be in opposition to each other.
I use Elliott waves as the backdrop for direction, wave counting. I’ll employ an arsenal of geometric studies at the prior waves, in hopes of them releasing their secrets as to the time and place of the next waves inception.
In Theory……
Sometimes its easier said than done. But I prefer to reversal trade as it gives me the best risk to reward ratios for entries, I’ll be either right or wrong quickly, trying to cover my trade expenses in an effort to get my trade in a “free ride” status and then try to hang on till the next one!
Please be aware that the Bear is very much a student of the markets. And am in the process of molding my trade techniques to employ the longer, positional trades.
A work in progress…….
But I will warn everyone, my charts sometimes look like a New Jersey road map.
Sorry Joseph.
Bear
No comments:
Post a Comment