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

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Long @ 1408-1410 price range
Long @ 1414 price range

Out @ 1416 1417 price range

possible 6-8 point profit realized!!!:D

You may now turn off your computer screen and go play golf.
:cool:
 
Quote from hypostomus:

..you insult? Not know tampax. Is who? You watch! We backtest you advice, find you secret, fade you trade. Take you money! You no win, we know where all trade are, use bigs bucks frustrate. You adapt, change parameter? We fake you again! You think is S? Is R? Fool! Is US. Save money, put in bank. Easier us steal there.
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Tampa was (is) a member who wrote particularly well. You'd enjoy his posts.
 
You who are learning here can you tell me why buy was at 1406 and exit at 1416?
I do not get it

good trade T-REX.

I see a "W" formation on 5min with close above 40MA why close long?
 
Quote from balda:

You who are learning here can you tell me why buy was at 1406 and exit at 1416?
I do not get it

good trade T-REX.

I see a "W" formation on 5min with close above 40MA why close long?
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10-14-03 09:34 AM

at this point you would either place you Buy @ 1414.50 or wait until 10:30am EST to see how the NQ is shaping up on the day.



NOTE: you scalpers could even buy right now! use a 4 point stop loss.


10-14-03 09:41 AM

I will now take this opportunity to demonstrate a how scalping with the system is VERY difficult.



Q) Some of you are probably wondering why I suggested buying instead of selling although the price is trading below the 40 EMA?


A) you would not want to initially sell when the bias has been to the upside over the last several days. NOTE: we will revisit this later in the demo.



10-14-03 09:44 AM

So far the NQ is under a littel selling pressure but so far the selling is unable to take out any significant levels.


This is an excellent opportunity for you scalpers to buy with a stop loss now @ 1406.00 and a profit target of 1414.00


10-14-03 09:57 AM
Downside should be minimal
It is very likely that the market WILL test the 1406 level but NOT take it out!!! If you were long the market you would actually use this opportunity to add longs at 1408 and readjust your stop to coencide with the current lack downside momentum if you did not have your stop outside of this range.

At 10:30am EST if the market has not blown past the 1406 price level then that is a good indication of another possible up day.
This is what is commonly referred to as "running stops".
A nice headfake to the downside followed by a breakout this afternoon.

This is the theory. Now lets see how well theory does in actual trading?


10-14-03 10:01 AM

If you bought @ 1408 your up 3 points!!!!



NOTE: If the market breaks out above the 40 EMA you BUY MORE!!!



10-14-03 10:03 AM
NICE!!!
Nice base now forming on your 5 min chart.

You would no doupt hold longs at this point looking to add more positions at the 40 EMA @ around 1413.00 price level.



This should help to answer your question.


:D :D :D
 
T-REX. I thought you were going to show us the two-bar Charlie. Instead, I think we got a mish-mash of the two-bar Charlie and your own discretionary trading. Your call to buy around 9:45 does not appear to be system based. Assuming one did not buy at that point, but instead waited for a true two-bar Charlie entry signal at around 1414.5 (w/o filter parameter), they would have faced an immediate reversal and another two-bar Charlie signal to short. You have neglected to state any profit targets that are system based, nor have you stated any stop-loss parameters that are again system based. Sorry, but I give you a C- so far.
 
Quote from trendy:

T-REX. I thought you were going to show us the two-bar Charlie. Instead, I think we got a mish-mash of the two-bar Charlie and your own discretionary trading. Your call to buy around 9:45 does not appear to be system based. Assuming one did not buy at that point, but instead waited for a true two-bar Charlie entry signal at around 1414.5 (w/o filter parameter), they would have faced an immediate reversal and another two-bar Charlie signal to short. You have neglected to state any profit targets that are system based, nor have you stated any stop-loss parameters that are again system based. Sorry, but I give you a C- so far.
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You give him a C-? You must be grading on a curve. It is an F, at best.

Regardless, prepare yourself for the wrath of T-Rex for questioning him.
 
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