Chimp Charts and TradeStation

This morning is the perfect example of why not to trade before certain announcements. This time it is Mr. Greenspan's speech.
Thursday and Friday it will be market data reports.

You will find the market will move before you hear the news, so there is no way to predict a move....you need to react to it instead.

Always look for high probability trades. Fading over reaction is a good tactic.:)
 
hey how about that cybertrader commercial where they say "chimps make lousy cybertraders" -- do you think schwab stole that from DM??

just curious
 
Quote from bungrider:

hey how about that cybertrader commercial where they say "chimps make lousy cybertraders" -- do you think schwab stole that from DM??

just curious
More...

LMAO!:D
 
Quote from bungrider:

hey how about that cybertrader commercial where they say "chimps make lousy cybertraders" -- do you think schwab stole that from DM??

just curious
More...

Hey Bung, you making a monkey out of me? :D :D
 
so im a little confused? i set up my charts correctly (so i thought) but when i compare to your .jpg files (your chart setups) they dont look the same at all? i am using 5 minute bars, with 5 and 15 bar EMA's...

Pete
 
Yes 9 or 10 depending on how you count it.
But it looks like one trade on the upside and 2 on the downside really if you go with the greater trend.

I am just looking in hindsight, I just got back a half hour ago from some errands I had to do.

I just peeled off 2 shorts and have one working at the moment. I find once you are confidant and can trade size, scaling out is a good tactic..... When the line is flat and trendless like today, take your one point and run!
 
actually, i also trade this type of "system" with a longer term setup, it really takes a lot of the choppiness out of a day like today. have been short since 827.75, the open of the 10:25 bar. have you ever seen the hypothetical results of this setup on a trade station report? i am working on it right now...

Pete
 
I would love to see your results on TradeStation! I have not been able to write a good easy language program for it yet.

Sometimes when I get tired of a one minute chart, I use a 3 minute chart with the 13 minute overlay instead. Tweak the times so it fits you better.

I try to let them run longer by scaling out, but with this market I hesitate to be in for more than a few minutes at a time.
 
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