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Awesome. Eggheads tell us each trade is statistically independent. They also tell us trading systems "stop working" or go through periods of good/bad performance. They can't have it both ways. It makes sense to size up when the market is working in your favor, and vice versa.

Roger that. I started working on the last piece of the puzzle today, methodical exits. Whaddaya know, +17 for the day, with only like 4-5 trades. It was also comforting to just follow the exit rules in the heat of battle. Much less stressful. So I just need to keep it up for the rest...

One thing I've noticed about candlesticks as I flip through the different time periods: the good signals tend to show themselves, in some way, on all or many different time frames. The bad signals will only show up in one or two time frames. In particular i'm talking about long shadows as...

Hmm, no one wants to do any homework! :D Well, i'm tallying up the ratio for the famous 3-bar breakout method, since it's a widely used method. I'd like to see how I compare to it. Also attached are my trading rules. The last time I had a really bad day and traded like a dummy, I...

Well then the system called for the exit. So you are doing yourself a disservice by blaming yourself for not being patient. Since you followed the rules, the reward is that this result must fall into one of the following two cases: Case 1: Just one of those unlikely circumstances where the...

Were you following one of your method's exit rules? From an earlier post they are: (1) Reversal signal (2) Sideways price action (3) lingering at a s/r level

Another way to think about late entries: statistically. For a single trade, a late entry might sometimes not seem like a bad thing. But look at all of your trades as a whole: number of trades, divided by number of points captured. Each type of trading is different; but let's say the...

Enter your vote today! A new poll has been created for the AustinTraders group: Check any and all December meeting times that you'd be able to attend. We'll have one December meeting at the most popular time and date. o 7pm, Thurs Dec 4 o 3pm, Sat. Dec. 6 o 7pm, Thurs Dec 11 o 3pm...

Looks like I won't trade tommorow (Weds), and will be away until next Weds. I want to leave a homework assignment for those interested! It's a quantitative way to find out how good your entries are, without regard to how good (or bad) your exits are. You can compare your different...

Right now my exits are haphazard and emotional. But here's where i'm headed: exits tailored to the particular type of trade, tailored to the current market. So i will target the next S/R zone, the next countertrend line, something like that. Also, sometimes I get a good trade signal in the...

Actually it all depends on the person. Also, the question is, can he learn things on the sim to improve his real $$ trading. Another important point, I trade both real $$ and sim, and keep track of each trade. By noting any differences between the two sets of trades, I can uncover...

Yes I do-- the time frame varies... for "Trend Touch" I look for a clean looking chart. I usually cycle through 100 tick to 2000 ticks. One chart in the window, and I flip through like a slide show. The main thing is to draw a trendline, because there are all kinds of trends and I have to be...

Note to self: I'm finding that the aggressiveness of my exits are based on the P/L of the day, and that leads to problems. If I am down, i'll tend to go for home runs. I'm i'm up, i'll tend to go for singles, or even less. Seems like the right thing to do is (1) decide on exits before...

moneyman, do you ever trade support & resistance; if so, any tips for us?

Hey there Steve, glad you like the "puke green"!

Let me tell you, finding out most of my entries were no better than random entries was a SEVERE blow, however... ... drum roll please ... I screwed up the random entry calculation, making it seem a lot better than it actually was... now that I've done it correctly, (a) the numbers the...

Well, I'm not really sure what to do at this point, so i'll continue with the same three entry methods on the simulator. M, Tues, Weds; then taking a week off. Plenty of time to think about possible changes. In the meantime, more data. Also, I need to think about characteristics of entries...

Here's my spreadsheet if you want to play with the numbers and give a 2nd opinion. Note there are 4 different sheets, by method, you have to hit the tabs on the bottom.

All of the entries this week were one of the three methods: Trend Touch, S/R Reversal, or S/R continuation. I compared the distribution of MFE's for each method to that of 24 random entries. Histograms attached! Both Trend Touch and S/R Continuation showed no appreciable difference...

Negative, Ghostrider.... 72 Trades, net -7.0 points (-$581.00).