Chronicles of an Idiot

Just to point out for those who care. The system gave me the correnct signal this morning. I read it wrong and took the first major signal against a strong uptrend. AN IDIOT OF COURSE. The second signal generated a nice move down.

Maybe someone out there in this monitor caught it. Hope so. Again, I should have trusted the system, it was time for the correction.
 

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Quote from VisionTrader:

Just to point out for those who care. The system gave me the correnct signal this morning. I read it wrong and took the first major signal against a strong uptrend. AN IDIOT OF COURSE. The second signal generated a nice move down.

Maybe someone out there in this monitor caught it. Hope so. Again, I should have trusted the system, it was time for the correction.
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That was a reason I mentioned 5 min charts. It was clearer there.
Walter
 
Quote from Walther:



That was a reason I mentioned 5 min charts. It was clearer there.
Walter
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I understand completely. You can apply this same principle to longer time frames if your account size dictates it. Same principle. You will of course get a lot fewer signals.

This concept keeps the risk to $50 or $100 per trade which is in most peoples range. Look for some comments this weekend about my plans surrounding this.
 
If you are following, there was a long signal generated at the 13:55 candle. It was confirmed by my filters. I chose not to take it beacuase it was the "first signal against the trend" It did produce 2 point so far.

Look for a DT to form on the 1M at the end of this pullback.
 
VT,

This may have been asked / answered before but you said that you aren't trading real money. Does your simulator give you realistic fills and if not do you account for slippage?

Thanks
 
Quote from Whamo:

VT,

This may have been asked / answered before but you said that you aren't trading real money. Does your simulator give you realistic fills and if not do you account for slippage?

Thanks
More...

Whamo. Look back in the journal when you get a chance. My method is completely described with pictures. I have a live account with TradeStation and I use the bid/ask buttons for this journal. This is how I am choosing to do it. I have traded this system live before on TS. I found out I needed some help wih ideas to make it better. That's why I do this. Not trying to sell anything here like some might.

PS - Nice to e-meet you.
 
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