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I agree that knowing when to stay out of the market is very important. It's better to stay out of it than to enter it at a wrong time.

Dude, the 'fool' part was in no means addressed to you. It was a general statement, but I am not surprised by your reaction. It's typical of a loser who takes everything personally. If you think that I care if you answer my question, then you are seriously mistaken. Good luck with your...

You believe in the entries? May I know why? Seems to me that by not entering your trades at all you would have made more money than by entering them. BTW, I always believed that every fool can enter a trade but it takes a wise man to exit it. Your comments only prove my point. Exits are much...

I would not be surprised by that. Things that everyone anticipates usually do not happen.

I guess we are about to start a new bull market, too many bears here.:D Personally, I think we will be stuck below 950 in SP for a while (months) trading between 950 and 800-750, maybe lower.

Yeah, but no so often, only 7 days like that in February and only 6 in January. It used to be better last summer and fall.

I think these are good ideas and I second them as I thought about the same things.

Yes, that's what I meant too, except that was too sloppy to mention the drawdown. Glad you corrected me.

What is even more funny is that I have also been looking into a similar system with a CCI and MA, exactly the way you seem to be using them. But this is still a work in progress as I am too busy working on other systems as well, those that rely mostly on the price action.

He sells books, he has a website dedicated to just that, don't recall its URL right now. Do search for Alexander Elder and I am sure you will find it.

He is a nice and a very hard-working guy. His life story is certainly very impressive too. We were planning to do some business together several years ago, but this somehow never materialized.

Good point... TWS does get disconnected quite often compared to any other Internet software I use along with it.

Nihaba, I agree with you. I could probably agree with you even more after reading your elaborate post more carefully, but have no time for that at this point. Yes, by BBs I meant Bollinger Bands and yes I do use the PSAR as well and find it very useful. Take care, Wally

He is a good guy. The book is good too, I guess he is now more of an educator rather than a trader.

Nothing, they just happen...:D

Walther, how do you determine the ROI for futures? Do you mean per margin? Say, the margin for 2 ES contracts is $5,000 and the system makes $15,000 per year. Do you count it as 300%? Thanks, Wally

Nihaba, I do not think I can agree with you unless you mean really strong trends, but then why do you need any indicator to tell you that. Stochastics can be used to show weakening and strengthening of trends. Don't have time to elaborate on that, have yet to check out the whole thread, but too...

ADX, think about it this way: 1. you are losing time (=money) by procrastinating, 2. screw this, go ahead and do it, the sooner you lose your money (perhaps) the sooner you will become free of this problem, 3. money is not everything, you are becoming a prisoner of your money by being...

I thought about the same, but in a slightly different way. Namely, he needs to determine how much he is willing to pay for getting rid of this complex and then start paying for it by pulling the trigger. If he gets lucky he may even end up paying less than he was willing to.

Well, yes... his explanation leaves somewhat to be desired for sure...:D I am not a big believer in mechanical systems (I guess he tries to make it mechanical with all these parameters) based on stochastics. A simple system based on the price action (such as the entry on the last low swing...