Quote from IronFist:
I thought you used EFX?
How much commission do you get for that TRO link?
EFX is MB Trading now.
Day-Trading 2.0 for small traders
- Thread starter jjrvat
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EFX is MB Trading now.
Yes.
Incognito, I cant speak for TRO's indicators (TRO, not bagging them, just not speaking for them).
but if followed the pure form of this strategy you will see that there arent any indicators required for this strategy. As jrvat as pointed out numerous times , the MA's are purely a visual aid and nothing more and can be dropped when someone becomes comfortable reading price action alone. He has also stated that this is not intended to be an automated strategy. choosing when and where to use the strategy is part of it. There are too many things that a trader needs to take in consideration when choosing which signals to take and when to ignore them.
lunch time, big announcements, non-trending day....
you couldnt back test it if you wanted to.
So in a sense you are right, backtesting it would show it to be a losing system. but jrvat has always stated that each trader needs to adapt this to his own trading style. So its a guide rather than a complete strategy set in stone. And technically its not a complete strategy anyway, only exits have really been discussed at length so far..
If you read the thread then you will see that jjrvat posted a COMPLETE PBP trading plan.
jjrvat has posted numerous examples of how this plan works.
jjrvat has posted numerous examples of how this plan works.
sorry I meant to post 'only entries have really been discussed in detail'
I dont recall any specific exits being posted in detail. (maybe I missed them though).
I dont recall any specific exits being posted in detail. (maybe I missed them though).
Sure have to love those lagging indicators that keep pumping out the pips
To IF,
>>^ Before that huge spike you would've been chopped up going by your TRO MACD.
Also in the bright green bars after the spike.<<
That is not necessarily true. It depends on trade entry and trade management. TRO says he uses limit orders to enter and scalps 5 pips. He gave no other details so you cannot draw that conclusion.
To TRO,
By posting charts without a full explanation you are creating confusion and controversy. Is that your intent?
There are many unanswered questions leaving readers to guess what you are doing. For example:
Is your limit entry at the close of the signal bar? 2 pips better than the close? If your 5 pip target gets hit before you limit entry do you scratch the trade? What stop size do you use?
With good trade management almost any entry technique can be made to work, e.g., look at this simple minded system:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=8734
Remember that there are many inexperienced traders reading this thread and most are lurkers who do not post anything.
>>^ Before that huge spike you would've been chopped up going by your TRO MACD.
Also in the bright green bars after the spike.<<
That is not necessarily true. It depends on trade entry and trade management. TRO says he uses limit orders to enter and scalps 5 pips. He gave no other details so you cannot draw that conclusion.
To TRO,
By posting charts without a full explanation you are creating confusion and controversy. Is that your intent?
There are many unanswered questions leaving readers to guess what you are doing. For example:
Is your limit entry at the close of the signal bar? 2 pips better than the close? If your 5 pip target gets hit before you limit entry do you scratch the trade? What stop size do you use?
With good trade management almost any entry technique can be made to work, e.g., look at this simple minded system:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=8734
Remember that there are many inexperienced traders reading this thread and most are lurkers who do not post anything.
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