Chronicles of an Idiot

Quote from trader416:

VisionTrader,
The reason I asked for the time of day that you take the trades is that your posts are time stamped several hours later. For example, your Good Morning Vietnam post today is time stamped for just before 1pm this afternoon. But I DO understand your time constraints. I've tried trading this system while trying to help someone else, and it kept costing me missed trades.

You asked me if I could confirm if the real settings are taken to one ten thousanths, etc. I don't know. And sorry, I thought you knew more about the TIMES course than you were letting on - I guess you don't. They teach you the method, but they don't give you the settings. Instead, they have you sign up with a special brokerage/data provider called FutureSource, where, for an extra fee, they already have the indicators set up.

I'm a TradeStation follower through and through, so I did not want to change my data and broker for the sake of the TIMES indicator settings, but they would not give me the TS settings.

Your newest chart looks virtually identical to the TIMES chart - way to go ! I would love to get the settings from you, if you wouldn't mind, as it looks much smoother than my attempt, and I would feel a bit better about having spent the money for the course if I was using more correct settings. If you want to PM me, I'd appreciate it: rgcarpenter@yahoo.com

(And thanks, "Nkhoi" for posting the TIMES chart.)

Thanks,
Rick
More...

Glad you got the TIMES figured out okay. Get it.:D

How the heck do you get the TS program set up for them if they don't give you the settings? Guess there's a way they do it.

I have tweaked and tweaked on this and now use a combination of my own. It does match this particular chart pretty well though. They claim that there settings are good for TS 7. Why can't they get these for you?

You should not use my settings for this, I don't have any idea what there settings should be. I don't think it makes sense.

Whatever. My settings are good for the way I trade and that's all I can tell you for sure. I would be pretty upset if they claim to be compatible with TradeStation, yet they are not. Especially for $4k.
 
I'm beginning to really like adding the 3-min chart into the mix, with a 6-pt target. Today, on the 3-min, I show a divergence short at 9:33 EST good for 6 pts, and a "shoulder" trade (for those with some TIMES knowledge) at 12:57 EST good for 6 pts.

Add in a few 2-pointers, and you've got a pretty good day !
 
Quote from trader416:

I'm beginning to really like adding the 3-min chart into the mix, with a 6-pt target. Today, on the 3-min, I show a divergence short at 9:33 EST good for 6 pts, and a "shoulder" trade (for those with some TIMES knowledge) at 12:57 EST good for 6 pts.

Add in a few 2-pointers, and you've got a pretty good day !
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I saw the trade at the opening too. It was a nice set up. Left click button was quivering at a very high level. It's probably worth the risk overall to give this good of a signal a try at the open. Just afraid of getting burned early in the day.

Personally, I like using the additional filter. It give me confirmation and keeps me from reading things the wrong way. I got this idea early in the journal from a passerby and I have been developing it in my system. I am learning to trust the reliability more, even this week I made a lot of progress with it.

Hope you can come back more often. Feel free to impart knowledge. It's okay to be idiotic here. It's good to meet someone who likes to trade this way.

Shoulder Trade - I like it. Man of my own heart.:p
 
Quote from VisionTrader:


Shoulder Trade - I like it. Man of my own heart.:p
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Alright guys, what is a "Shoulder Trade"? Sounds like it might be
a lower high after a higher high which would make it the right
shoulder of a "head and shoulders" pattern?
 
I also noticed that last run at EOD the stochastics made a way
higher run and the price top was lower than the one before it...
A definite divergence... but the MACD looked even steven... This
was on the 3-min chart...
 
I am going to begin the weekly tracking of the journal with 6-18. This is the first day that I traded with my filter and I am settling in with this. Since it is raining here again, I will work on getting a Yahoo Group set up to post my spreadsheet and other stuff of interest concerning my method. This is a future project.

I have really started tightening my stops thanks to Breakout's suggestion. This seems to be working and making sense. It also is helping the risk/reward issues come more into line. Also, got the idea to do more filtering here. This is definitely worth the time so far and I hope some others get some tid bits to help them.



Days Traded 3
Total Trades 16
Gainers 9
Losers 5
Breakeven 2

Success Rate 56% (Counting B/E as loser)

Total Points +12.5
 
Quote from version77:

I also noticed that last run at EOD the stochastics made a way
higher run and the price top was lower than the one before it...
A definite divergence... but the MACD looked even steven... This
was on the 3-min chart...
More...

You're right the signal was not there on a 3M chart. You're no idiot I see.:p
 
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