Search results

One of the things I look for is large deviations from the MA's, so they become useful in that sense. I actually look for noise to trade off of, while other traders want to get rid of noise. The lack of liquidity this week hasn't made that much of a difference, surprisingly.

Actually, the 5ma on the 5min chart per attached works pretty well for S/R. On that downtrend the MA served as solid resistance and now on the way up it's fairly good support. But, when you go into one of those consolidation areas like from 9am to 11am it lets you down. It doesn't work often...

It all comes down to risk management more than anything.--------->>>> Now this is where we agree. How you manage risk and how you manage your account are most important.

I just use the MA's as directional indicators. The 25 ma (the longer one) is just the 5 MA on the 5 min chart. I don't use them as triggers, just noise filters.

Hypo, I see you've been around a long time. Care to share your views. What other variables are you looking at to get your edge?

No doubt the losses are limited, at least hopefully they are. If you are winning trading this method then it speaks very highly of your trading skill because from a mathematical standpoint, it's a losing strategy. It does not surprise me that some people can make money trading patterns but I...

Crap, messed up on the bold font.

It's not my intention to criticize people who trade patterns, just to share my experience with you why <b>I</p> personally will not. This chart sets up as a simple pennant. One guy will look at this chart and say buy a breakout up because the bottom is in and we are going to breakout from a...

Has the advance in stock prices been driven by growth or inflation? It's not a healthy sign when massive amounts of liquidity are required to keep the markets afloat. If the economy is being driven by inflation then the only thing that will keep things going is more inflation, which is what's...

It's always hard to say in hindsight what I would have done. There's a very good chance the triggers at 6:35 and 6:46 would not have been entries for me. My triggers on the 1's have to be supported by something on the longer term charts, mostly the 5's. But, I have been caught in a situation...

here's 1 trigger I see tho. Falling wedges are very bullish, even more so if they penetrate the bottom support level. Moves below falling support levels are very bullish. I would have been long down here.

Is this chart from today, the pre-market? My trading style changes during the day. In the morning I'm typically counter-trend, mostly because that's where the volatility usually occurs but in the afternoon I typically switch gears and look to ride a move because that's when the trends usually...

I'm pretty good at timing the market but I know how brutal it can be so I don't put a huge emphasis on it. I give myself a margin of error under certain conditions and offset the drawbacks of that by managing my account properly. Once I do have a profit on an averaged position I'm unloading a...

I use Global Futures and have nothing but good things to say about them. I would be lost without the GST platform. I tried tradestation and didn't care for them at all. Adjusting working orders with them is a nightmare. IB's margins are way to high. I see no reason to switch, but that's...

Here's an important concept traders usually get wrong. A break of a downward sloping support line is NOT bearish, it's bullish. However - and this is the important part - the degree of slope determines the probability of the trade. If the support line is declining rapidly and we penetrate...

No. I'm only <b>using</b> 20% of my capital. That doesn't mean I'm going to lose it all. For example, I have a 100k account and my position uses 20k. I take a $300 loss. I used 20% but only lost 0.30% of my account ------>>> $300/$100,000.

Anek, It wasn't my intention to criticize the method so my bad if it came off that way. I've studied the behavior of price for a good many years and I did a statistical study on patterns and what I found is the uncertainty about which way the price would move and the variety of ways you...

Here's the link where I've been posting trades if anyone is interested. http://www.elitetrader.com/vb/showthread.php?threadid=112126 You bring up a very good point here.... "I personally find it to be absolutely amazing ... the number of ways that the mind can figure-out how to trade...

Personally, I have never met a profitable pattern trader. I've seen people make money trading patterns but then conditions change and patterns no longer work. There are so many things that can happen when the price moves from a consolidation area. It can false break up, then false break down...

I don't think all of the markets movement is random, just a large percentage. Randomness can be exploited using statistics and proper portfolio management. A quick synopsis of my strategy....I fade what I believe are extreme, non-sustainable price movements. As I'm sure you know, an...