Catch the money train

Z

Zero Bid

This is part 2 from my successful, yet short journal from last year ( http://www.elitetrader.com/vb/showthread.php?s=&threadid=203797&perpage=6&pagenumber=1 ).

Trades so far this year:

Sold DTV + 119.00
Didnt quite hit my atr. I ignored my entry rules and took my profits. Will probably get in again soon.


Sold LDK + 633.50
Same with LDK. Momentum wasnt in + territory yet before I took long. Took profits and move stops to b/e.
 

Attachments

These are still sim trades. I don't feel like I made enough trades off the last journal to justify using real money just yet, even though the results have been good.
 
Been away from the markets for a while. Mostly more watching than trading. I'll try and make some more trades to end out the year. Still trading sim. As mentioned from my last journal, when I feel ready, I'll commit capital.

First, like all traders I need an edge.

Because it's been awhile sense I made a trade on this system, It does look a bit foreign to me, but from some of my notes and previous journal, I've decided to make some small changes.

1. I'm doing away with the ATR indicator. Too much clutter on the screen and I don't really need it. From now all, all trades will be placed for a +1, +3 or +5 point stop and target. Basically r/r will be at 1:1

2. No more 75 ma. A 200sma for long term, and a 30 for intermediate term . In the future, I might even shave off the 30..don't know yet.

3. 200sma will dictate the direction of trades. If the 200sma is considered a long term indicator of price trend, then it makes sense to trade in the direction of that trend for the best outcome. So lets see if this works out for me.
 
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