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What about averaging in as a way to deal with chop? Say you get a long signal at a certain price. Add another contract 3 points lower (or wherever) and another contract another 3 points lower (or wherever). If price eventually takes off after chopping around your gains will be much larger...

As a value of the account size? So "trade equity > .01" means if the gains on the trade exceed 1% of the account size (eg. $1,000 on a $100,000 account)? If so, why? Isn't that limiting winners? Or is that a just in case kind of thing?

I'm still confused by what "trade equity > .01" means. Does that mean if the profit on the trade exceeds 1% of the account value?

Ok here's what I'm talking about. Here's a 60EMA (value from IronFist's thread) on a 10,000 volume ES chart (arbitrarily chosen value) colored according to slope. Bar closes green? Go long on open of next candle. Bar closes red? Go short on open of next candle. You can see a few...

I still don't understand what that means. More than a 10% gain in a single trade?

What does that mean?

Here's an illustration of when this type of system fails. This isn't a 60 period MA like IronFist was talking about, but this type of thing happens with MAs of all lengths from time to time. The circled area is where you get chopped to death and give back all your gains and then some.

I believe in the original thread IronFist was using 5 minute charts. I would imagine 1 hour or smaller (but not too small) would work just fine for this. What do you mean by "drift"? What does Kirshenbaum mean? The alphabet?

I actually have another appointment tomorrow at 1pm so again I double I'll do any trading unless I see something cool in the morning.

Futures trading doesn't always involve taking profit in percentage. Half the time you lose 5 points. Half the time you gain 5 points. You're back where you started from (not including commissions).

Disagree. I am profitable because I average into trades. A fixed sizing scheme would not work for me, unless I misunderstood what you are saying.

Why do you think the 6E did so much better? Because it's "trendier"? Is that over the 10 year testing period? How difficult is it to change parameters in those tests?

Buy 1 @ 1564.50 Buy 3 @ 1563.75 Buy 5 @ 1563 (this order was never filled) Close position @ 1567 Stop loss @ 1560.75 Here's today's chart with entry positions and you can see the order to buy 5 which was never filled. I'm done for the day as I an appointment this afternoon and...

I'm kind of interested in the idea of using longer timeframes like that because I believe that unless you have a specific reason to be trading shorter timeframes, longer timeframes are better. Look at a chart of someone going in and out during the waves of an uptrend, for example. Why not...

Nice trading without indicators. That's the way to do it.

Just a quick note, I will be gone for most of tomorrow afternoon so I probably won't do any trading unless something really great happens in the morning.

4/1: QLD: $1,440 Feb 15 option proceeds: $58.50 ------------ $1,498.50 I've started day trading again (journal here) but will keep this thread going, too, to document my longer term trades.

Maybe I should've said we have a potential triple top now. You are correct, price would have to start going down for it to be confirmed.

Years ago you read my thread "the only way to trade with Fibonacci" where I debunked the myth that Fibonacci has anything to do with trading at all. You also read my "The Only Way To Trade With Fibonaccis Journal" where I posted many live and real time calls as I traded the ES and then later...

Consider this thread entirely separate from my journal thread. I average in against the trend. You've added some extra rules there. I never said anything about averaging in or scaling out. I'm not even saying we having to use a 60 period EMA, I was just mentioning that as a starting...