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Exit 1138.00

Moved stop up to 1134.75

stop moved up to 1132.75

Long at 1134.50 Stop at 1132.00

I'm back to a good state of mind for trading. Looking at screen 3 I see the CCI at 60 so it's not in any overbought/oversold area. Also, I have the 30 min. ADX at 25, so unless the market drops early then I don't feel great about big moves to the upside. The RSI is above 50 so the only breakout...

Forgot to attach the chart.

Made some mistakes this morning and got myself all worked up. I don't mind losing money when the market wacks me. I do mind when I make trading mistakes. I'm not going to trade anymore today so that I can settle down and be better prepared for tomorrow. Here's the walkthrough on the trade and my...

Started with a difficult trade for me. The open upward momentum stalled near the open as expected. The stop loss point for today is 2.46 or 2.50 pts. Taking it from the high of 1040.80 = a short entry area of 1038.30. The chaikin osc. got me all flustered. It started dropping like a rock from...

1/20 Short at 1138.25 Stop at 1140.75

Getting ready to trade the Emini today. To get a feel for what to look for I'm checking the screens. I have last Friday's high at 1138.80 and low at 1132.00. We're currently trading above the high so I need to check for a possible breakout to the upside today. As I look at screen 3 I see...

Thats ok, steve. The idea was to show the method and let everyone do their own thing with it. If you're happy with it I wish you great success. This method is more complicated, however I think it will outperform the other two methods easily. I'll start with realtime trading tomorrow and finsh up...

I don't backtest with tradestation. The reason is obvious..if I lose money and get a feeling the environment is changing I look to change my approach. Right now this is a new method for me. I don't have all the rules down in black and white. If it gets to the point where it can be systematized...

When I didn't need to trade for a living I sized using 2% of the account on each trade. It compounded very quickly. Now I'm more concerned at reaching a certain dollar level. I know it's not optimal, but I have to trade in a way that makes me comfortable to enter each trade without hesitation...

Just being honest. When I had another source of income I didn't mind sitting through lots of losers. I feel the pressure to make a living even though I have enough funds to last many years. No doubt I'll get used to the new circumstances but for now I know I'll take some profits too early. I...

I'm getting tired and running out of gas. I'm going to stop explaining for now and take a break. Later I'll post a little more. I didn't realize how hard this would be to explain to others so I'm sorry for being so long winded. Hopefully when it's traded in realtime it'll be a little easier to...

Here's the more traditional way of entering breakout trades. I was papertrading this trade at this time so unfortunately I didn't make any money on this one. On 12/29 the opening gap was above yesterday's high. At this point I looked for a reason to get long (screen 3 was cci near -100 ....no...

Here's how I use the indicator for breakouts. When the open is between the two red dotted lines and there is a gap I enter a breakout trade in the direction of the gap. If the market tests the previous day's high and starts pulling back then I move the stop to the dotted red line. That way...

The next piece added is the Chaikin Osc. This is the primary tool for giving a reason to enter a trade. I use the yellow and red lines to indicate areas of interest, however without divergence I won't enter a trade. Here's a screen shot of Friday and the first entry of the day a short a few min...

Ok, here's the first piece of info. on screen 2. It's the indicator. I left the ADX on the screen to take up some space so it would look better. The indicator has a upper and lower yellow line. These are yesterday's high and low of the day. They won't move throughout the day. The dotted red...

Here's screen 2. I didn't label anything because I want to lift off some of the pieces (it looks pretty busy). The screen is the 5 min. SP chart with the 3,10 chaikin oscillator based on volume. (I've also used the detrended price oscillator with good results). It also has the keltner channel...