Here is the chart for the BBB trade. Notice how their are three consective rises in the sto and MACD and a DB in price.
Understood Breakout and I agree. Help me.
Understood Breakout and I agree. Help me.
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Chronicles of an Idiot
- Thread starter VisionTrader
- Start date
Quote from VisionTrader:
Here is the chart for the BBB trade. Notice how their are three consective rises in the sto and MACD and a DB in price.
Understood Breakout and I agree. Help me.
You're trades are fine...actually I'm impressed. But, your money
management is wrong. You're probably going to be right about
50% of the time(if you're good) over the long run. And if you're risking a hundred
bucks to make a hundred bucks, you're going to breakeven... at
best. Try to make at least 3 ticks for every tick you risk, and
lower(raise) your stop to breakeven when you've made twice your
initial risk.
Quote from ptt:
Great thread, and has not gotten bashed by any whiners.
Breakout, what settings are you using for MACD. Also, you mentioned just fading a 30 minute BO. Do you us any other parameters/filters.
Thanks.
You might be thinking of someone else...I never said to fade
a 30 minute BO. We were talking about just fading BO's on a
133 Tick chart on another thread. I was saying you could just
fade breakouts instead of waiting for a divergence from an
oscillator. Just go short when price breaks the channel.
Here's the Chart I posted.
Attachments
Hopefully everyone has not fallen asleep. I find it amazing that my trade went exactly as planned, but stopped just one tick short of my profit target.
I'm in this til the end for evaluation purposes. If bottom holds here, there is still room. It don't look good though.
Stopped out at 1:36.
I'm in this til the end for evaluation purposes. If bottom holds here, there is still room. It don't look good though.
Stopped out at 1:36.
Quote from Breakout:
Trade 1 continued...
Breakout - Thanks for posting this. It really helped me see what your doing and I think we are pretty much on the same page except your money mangement matches your system.
One issue is that these trades on the 1M chart are mostly reliable for 2 points. Yet 1 point stop seems too close. During backtesting the % wins was great. I wouldn't dare say what for the thought of seeming like an idiot.
Real time so far has not been as good, just as you said. My % including this week will come in around 54%. I'll work on it.
As I said I do not always go for only two points, but usually two points. On the trades I am nicknaming HOTT trades (Hop On The Trend), I normally move my stop to BE as soon as practical and ride the trend. I will try to describe this over the weekend in another .doc so you can take a look.
Just in case anybody is following....
There was a nice signal to go long at 14:03.
VTDB. Price made a double bottom, STOC and MACD made higher lows. I did not take this for two reasons.
1. The signal was the first against a strong move down.
2. It was against the major trend of the day.
There has been a nice move up however.
There was a nice signal to go long at 14:03.
VTDB. Price made a double bottom, STOC and MACD made higher lows. I did not take this for two reasons.
1. The signal was the first against a strong move down.
2. It was against the major trend of the day.
There has been a nice move up however.
Quote from VisionTrader:
Just in case anybody is following....
There was a nice signal to go long at 14:03.
VTDB. Price made a double bottom, STOC and MACD made higher lows. I did not take this for two reasons.
1. The signal was the first against a strong move down.
2. It was against the major trend of the day.
There has been a nice move up however.
Yea, I was watching it, but I like my Dbl bottoms to make a
lower low. Just missed it by a tick.