2 Bar Charlie Day Trade System ("LIVE DEMO")

[JDRower]

BACKTEST! ACT WITH DUE DILIGENCE!

Look at the last week and see if you could have had good entries with T's system.

Look for the best results by testing different exits. There are scads of them. If you want to be cautious, use a 2.5 points Target on the ES. See how often you would have hit with that Target. Maybe you're more comfortable with 1.5 points. Then see what retracements there would have been before achieving that target so you know where your protective stop needs to be. Remember every trade has one entry but two exits.

Try candlestick patterns for reversal signals.

Try something like a 6-bar CCI or 3-10-1 MACD to signal reversals. The methods are endless.

Write down each exit strategy and the results. When you're done, compare the results. Look for aberrations to confirm the validity of your results.

Then apply your rules farther back in time to confirm whether or not you would have made money.

It's work and it should be. If it were easy, everyone would do it.

Sometimes I wonder if people want to make money or just criticize those who have done their homework and do make money.

Good cheer,
JD Schaefer

 

[T-REX]

Quote from snooptrader:



That is ridiculous. Almost like your "the market might go up if it does not go down, and it is going to roll over but will probably continue up until then..." commentary.

Exits are the most important aspect of a trading methodology. I can give you 1,001 valid entries - but all are worthless without a valid exit strategy and profit target.

The problem is that you want to be told when to wipe your ass and when to blow your nose?

Risk/Money Management is up to the individual. It is based on that individuals tolorance for risk. It is up to that individuals financial goals. What YOU want is a set of static rules. The market is NOT static!

As for my commentary?
The results speak for themselves!
I DO give specific STOP-LOSS & PROFIT target suggestions along with explainations. I did not do that here because that was NOT the intent of this thread. The intent of this thread was to demonstrate how you could use the "2 Bar Charlie" system to create a good system to trade. Thats ALL.

 

[OddTrader]

Finally it appears we've got a (virtually) complete system consisting of two parts: Part 1 authored by T-Rex; and Part 2 authored by JDRower.

Apparently ET is a nice place really, traders could help each other to collaboratively and jointly produce some useful and profitable systems.

Thank you all! Great work!

 

[T-REX]

Quote from snooptrader:



That is ridiculous. Almost like your "the market might go up if it does not go down, and it is going to roll over but will probably continue up until then..." commentary.


I challenge you to (the "EGO CHALLENGE") once before........but YOU PUNKED OUT!!!

Yet YOU continue to talk @#@$ ABOUT ME!

I dont know what your perverted fixation on me is and I dont care. YOU can NEVER be me!
YOU cant beat me!
YOU cant trade to save your own life!
YOU obviously CAN'T read! (else you would understand simple trade mechanics & concepts)

It is NOT my fault that you blew your risk capital and are now bitter. STOP RUNNING YOUR MOUTH AND LEARN TO TRADE BETTER!

 

[snooptrader]

Quote from T-REX:

Quote from snooptrader:



That is ridiculous. Almost like your "the market might go up if it does not go down, and it is going to roll over but will probably continue up until then..." commentary.


I challenge you to (the "EGO CHALLENGE") once before........but YOU PUNKED OUT!!!

Yet YOU continue to talk @#@$ ABOUT ME!

I dont know what your perverted fixation on me is and I dont care. YOU can NEVER be me!
YOU cant beat me!
YOU cant trade to save your own life!
YOU obviously CAN'T read! (else you would understand simple trade mechanics & concepts)

It is NOT my fault that you blew your risk capital and are now bitter. STOP RUNNING YOUR MOUTH AND LEARN TO TRADE BETTER!

I could only punk out if I agreed to your challenge and then did not show up. As it is, I am not six and could care less about your challenge.

I have no fixation with you, I just think you are an idiot who gives out bad advice that could cause people to lose money.

 

[T-REX]

Quote from snooptrader:



I could only punk out if I agreed to your challenge and then did not show up. As it is, I am not six and could care less about your challenge.

I have no fixation with you, I just think you are an idiot who gives out bad advice that could cause people to lose money.

The only idiot IS YOU.

YOU can't post winning trades.
YOU are a JACKASS!
YOU are just angry because I trade in realtime and you post ridiculous nonsense in "realtime".

I posted a winning trade with yesterdays "LIVE DEMO".
YOU posted BS!

Until YOU start posting trades YOU are in no position to make STUPID comments about anybody here at ET.

The REAL reason you did not show up at the challenge is because YOU CAN'T TRADE!
Buy YOU can TALK BS about people who CAN trade.
YOU are a JOKE!
Have you not embarrassed yourself enough?
WHAT A LOSER!!!!

LOL




I will not allow you to take up anymore of my time!

 

[balda]

here we go
scalpers can buy right here with stop loss
other wait for clear picture after 10:30

 

[LongShot]

Quote from balda:

here we go
scalpers can buy right here with stop loss
other wait for clear picture after 10:30

 

[T-REX]

This "ignore list" is really something!

What a terrific gadget. I'm just sorry that I have not used it sooner. This is GREAT. You can't even see what the IDIOTS on the list say. What a wonderful piece of technology!

THANKS BARON!

 

[balda]

If you wouldn't be so arrogant you could follow along and make some money

by the way the only reason I posted in this thread because you offered system with complete entry rules which you violated on your first entry.