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datamerc, you are an inspiration! :) Thank you for the journal. I'm most impressed by your honest accounting of your feelings and mistakes and your consistent bookkeeping. I've been a modestly succesful in my trading, but I'm far from consistent. I've decided to take a more 'professional'...

Success! Or at least first step :) I have implemented a simple version of my strategy in NinjaTrader. Strategy works on 1-tick resolution and displays the results on a 1-minute bar chart for clarity. Steps are: - Reads active S/R lines for the day from a text file - When zone surrounding...

Makes sense. What I was thinking is that in an uptrend I can go short at a resistance level for a brief pullback, but that would be a short-term move and the profit target smaller by necessity. Going in the direction of the trend would yield bigger profits. My question is how to determine...

I identify the S/R levels with the old Mk I Eyeball instrument :) I look at candlestick charts of the previous 1-2 weeks, using 1 day, 60 minute and 15 minute candles. S/R levels are the clearly visible congestion areas over longer time, or tight areas where the price had rebounded in the past...

It's really a choice of preference ... do I want to try to make small profits from the short-term movements, or catch the longer-term moves? For now I'm looking at the 5-30 minute timescale, that's why I have the 2-4 point profit targets. So far the test results have not been too...

I've spent few days backtesting the strategy, and I came pretty much to the same conclusion. The daily volumes drop off dramatically in mid-December. Also going back few months will get me interesting volatility environment that might still continue, but not forever. So I need more data. So...

Ewww... I have a STRONG dislike for wide stops. I've been swing/position trading equities for few years and I like my stops tight and nice. On the other hand. I get stopped out a lot. Too much, actually. So I think you have a good point there. I'll take a deep breath and start loosening...

Thank you for the insights, good stuff! Hmm, good point. I've been doing this real-time for the past two weeks, but I've been tweaking with the system and trying out different things, so the results are not meaningful. I'll backtrack 2 weeks and see how the system performs with 2-3...

Based on few weeks of reading and playing with ButtonTrader/IB simulation mode, I've come up with following simple strategy. It is by no means revolutionary and it is based on the kind advice of many contributors, especially ESResistance from ET and BillyRayValentine and Ironman from...