Chronicles of an Idiot

Thank you for your time.....I must re-read your 3 or 4 strategies...its just tough to re-read as I can't remember where they are...Please don't use your time to re-post them....I need to review anyways...of course after the market closes it would be nice to put the revised plan down.....as this is work in progress and we need update as we go....revising and re-revising the strategy, but always working from a base and a field of direction.

I think we are all experienced enough on this thread as to not hold anybody to their recommendations or trades as they see them...so your fear of being blamed and to post indicator settings is a non-issue...obviously with your observance of the stoch double bottom....the settings are key...as 1 tick or 2 tick variance can be observed with different settings.

Michael B.
 
I just looked over those last two trades after the fact. They were both good signals and I would take them again.

I may have jumped a little on the second, but the signal was there.

I will plan on updating everything at some point. Good suggestion. I have always encourged anyone experimenting along with me to incorporate there own trade management. After all, this is what being a profitable trader is all about. Anybody can make the calls.

Today is a great example of my poor trade management. Even so, I am still up a few for the day.
 
good job vision....good thread......great review of trading techniques....in my humble opinion.

It would be nice of getting into the groove and arriving at a definate plan rather than just chatting about our trades....

In other words lets get a disciplined Vision ...lol

Michael B.
 
Quote from ElectricSavant:

good job vision....good thread......great review of trading techniques....in my humble opinion.

It would be nice of getting into the groove and arriving at a definate plan rather than just chatting about our trades....

In other words lets get a disciplined Vision ...lol

Michael B.
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Check back later tonight. I am going to post some thoughts on this along with my plans.

I feel like I have this down to a system, at least about 80%. The purpose of the journal has been to fine tune it. Still much to do however. Good suggestions.
 
Quote from VisionTrader:



Thanks. What would your recommendation be?
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I can't recommend how much risk you take on. I would say I regard 5k per one lot as very aggressive, 10k fairly sane for a good daytrader, and 20k conservative.

From what I've seen, you have a pretty good handle on what you're trying to do here. You can make an awful lot of money without taking on a crazy amount of heat.
 
I trade the trend on the ES during the day, along with a daily trade at the open.....but your use of diverging double bottoms/tops of stoch and MACD is a nice complement to my indicator based scalping.

Many traders use S/R, MA's ...but your system is a refreshing use of Stoch and MACD....I like the way you lay the stoch into the candlestick pane.

Your idea is not new or unique.....but I call it the "Vision trade" as your unique way of communication.

I hope you are successfull in your transition to real trades.....and will continue to post when you start....You have barely begun your journey, but it took me years to realize what you already know....(not that I know much)

I have so many charts open now...as I have received so much from Elite traders .....i have the hershey stochastic....i have the Vision trade......then I have the scalping charts open that another trader taught me.....I need some more monitors i guess....

Keeping it simple is getting harder to do...as there is so much good stuff out there. I trade off of price action and S/R, but am finding some creative use of indicators to help confirm what iam seeing and to help pull the trigger.

Michael B.
 
Thanks for the kind comments. I have really benefited from the help everyone has given me. I realize I still have a ways to go yet but I am slowly getting there.

If I might give you any advice it would be "less is better". I have really improved my Vision by using fewer indicators, fewer charts and by far and away the best thing I did was give my daughter my TV and CNBC along with it.

When I place these trades, I generally do not even look to see if the market is up or down for the day. Just focus on the set-ups and what they tell me. Less stressful and much more enjoyable way to trade. Too much info is not good IMHO.

Take care.
 
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