ES Journal Archive (2006 - 2008)

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please forgive the excess questions. romik is testing 5 min chart using system you have already proven to work successfully on longer term charts. am i understanding that correctly. thanks frogman
 
Quote from frogman:

please forgive the excess questions. romik is testing 5 min chart using system you have already proven to work successfully on longer term charts. am i understanding that correctly. thanks frogman
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yes, but what he is doing is trying to come with optimal intraday targets and whether that would be more profitable than letting trades run. Romik, correct if I have misstated. By the way, I have only proven my system to work long term to myself. I don't want to speak for others.
 
I think it should be noted that the long yesterday at 1371.00 on the 15 was counter to the 60 min trend. On the 60 minute chart you have 3 obvious reaction highs in this downtrend. The last being at 1377.25. The bottom line here is that it all depends upon your perspective and your time frame. It also depends on how active you want be etc. One man's pullback is another man's breakout. The 60 is beginning to show signs of bottoming, where the 15 exhibited that yesterday and is now in a state of flux where the short grail just experienced is not running off to the downside ( remember no divergence was there). Define your level of activity and tolerance level. Choose your time frame wisely and the trade it. You will be much more active and have more frequent opportunities on the very short frames, however you will have potential to miss opportunities and will certainly be less accurate while having more commissions. Longer term, you will be more accurate with less whipsaws, having less commissions, but you will have wider stops while making more profit per trade. It may not be exciting for you to trade long term. In any event, you must pick your style and frame and trade it. For me it's the longer style, but make no mistake, my system works on any time frame.
 
Quote from frogman:

i am sure it is inappropriate to ask what your system is? frogman
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It's all contained here in this thread and others. I will ask that you not ask me to retype everything out. Research it here if you would. Thanks.
 
Quote from Buy1Sell2:

yes, but what he is doing is trying to come with optimal intraday targets and whether that would be more profitable than letting trades run. Romik, correct if I have misstated. By the way, I have only proven my system to work long term to myself. I don't want to speak for others.
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I am not testing PTs, I use reversal RSI signals as an indication to reverse initial trade. I suppose it is letting the trade run until there is a reverse grail :)
 
There is also quite a difference in the continuous 60 minute chart and the Reg trading hours 60 minute chart. So , there are quite a few variables in play and a trader must pick what is good for them. Once that is defined, you stay in a trade until the chart tells you to get out.
 
Quote from romik:

I am not testing PTs, I use reversal RSI signals as an indication to reverse initial trade. I suppose it is letting the trade run until there is a reverse grail :)
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Ok. Thanks for the clarification. It is 5 minute chart I believe right?
 
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