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

[T-REX]

Quote from trendy:

T-REX, as a general rule do you recommend using the filter parameters, that is, waiting until the low of a 5min. bar closes above the 40ma before entry, and conversely, waiting until the high closes below the 40ma before shorting? This seems to avoid a lot of whipsawing. If the filters are used. Do you buy at the close of the triggering bar, or do you wait until the applicable H or L of that bar has been exceeded?

I promise I will answer this question later.
You are getting ahead of me hear.

 

[T-REX]

Get ready to add longs!!


Current Support: 1409.50 (Don't move stop loss here!)

 

[balda]

how can you get ready to ADD if you didn't get any signals based on the system? and scalpers were out long time ago.

 

[T-REX]

Next Support should be @ 1411 - 1412 price levels if we are going to rally at 10:30am EST.

 

[T-REX]

Quote from balda:

how can you get ready to ADD if you didn't get any signals based on the system? and scalpers were out long time ago.

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.

 

[inandlong]

Just for clarification, are we using 24 hour data, or 0930 and on?

Thanks.

 

[T-REX]

Your order should be filled now and you have just successfully added to you longs and your NQ is moving ahead of time differential today i.e.(10:30am EST). It wants to go higher!

 

[T-REX]

NOTE: The Dow is only off 6 points now.

I think I be fixing to rally now.

 

[T-REX]

I will probably have to cut this short. My indicators are screeeming and I may need to do some tinkering in my stocks as well.


But for now I will continue with the demo.

 

[T-REX]

Quote from inandlong:

Just for clarification, are we using 24 hour data, or 0930 and on?

Thanks.

Good question. if im not mistaken you can either use daily or 24 hr. I personally like to use both.