Hi no_pm_please,
Trading is a frustrating stuff...I really know it, you should see the positive results you got here in very short time. I would go even further to claim this thread a complete success in becoming a better trader. Sadly it`s mostly essential to experience the painful disappointments by yourselves to get a learningcurve, but if I had some more infos earlier, may be I would have skipped some of the pain...
I think you got very valueable informations.
1.) You know this method is not working for it`s own, like any other I ever heard of (may be one exception, but that`s just opinion...), this may save you a lot of money.
2.)Fading is probably a difficult stuff..esp. with one contract only.
3.) I think i could proofed that the best time to use such a method is the mid-late morning reversal, there is often a Low/high around first 60-90 min. good for a scalp at least. You got some hints that there are some conditions to use it with succes before 1015 too. Next I already found some pattern/rules for an easy version in the morning with acceptable profitfactor. And you now probably know that time of day makes a difference, so you learned much or not?
4.) I hope i could make clear that you will get cooked if using a method fitting only a very special marketenvironment, as all the million traders in the late 90`s buying every stock (esp. dot coms) without stops and plan and getting rich...temporarily. What does not mean not to use methods just working in one rare single marketenvironment, but you have to know what you are doing and why this is working just now and when you have to stop trading it. You can have a lot of systems, and you can say, well we have marketenvironment xyz, well lets use this system abc now untill conditions changing, but needs a lot of screentime and experience.
5.)look back to 3.) it`s possible to use one single method with those hard and fast rules
-)) to make money, but you have to be selectiv, waiting for the right conditions to pull the trigger, means you have to be patient and wait boring 3-8 days for a signal. That`s what you will hear from serious persons, trading is a boring game, if you want get entertained look for something different in your life.
Next i have to excuse me, cause after lot of posts there was also some egostuff in the game, this "hey look how great I am thing" what surprised me too, this forumstuff leads to some strange dynamics i had to found out...
Nonetheless you have to take more care in trading, and better take much more time to work on your stuff, I never heard of anybody trading profitabel untill 4-8 years in the markets. Uuuh you read/heard of Rickey Cheng, the master of the systems, he lost 20 consecutive years, now his systems are topranking and he gives seminars for 180000,-$ person/day, just for fun...
greetings, Michael
