I think I figured out why trading can never work for so many people
- Thread starter ChkitOut
- Start date
Holy Trollus Maximus! The ET entertainment continues!
You actually consider such childish insipid behavior "entertaining"?
After this I will not respond further to this idiot with 17000 posts...
I offered a valid response by PM since he was so concerned about my net worth and how could I possibly make 32 ticks in the bonds. I didn't realize this was so difficult so therefore impossible. Well not for us. We've been doing well with same program for a decade in Emini. I admitted we were pleasantly surprised in the bonds AFTER talking to Baldwin.
What should worry this childish idiot is whether or not HE has a high net worth and why he is so sure no one can make 32 ticks. I have and am making 32 ticks. THAT'S A FACT. So much so I am picking up and leaving my lovely, large, paid for house in Vegas and moving to Europe in about 3 weeks and leaving my RE partner in the lurch to boot. Why would I do that? Now that daylight savings time has started it's even more imperative.
I promised to send pics and other proof from Europe. Let's wait and see... either way this is counter-productive and I am finished with this thread and this site (except for 2 individuals I communicate with. Which is the only reason I check in periodically). You people are foolish to drive away experienced traders.
About as long as it takes him to pull those 32 ticks out of ZB.
I like the approach in the #2 example, but not #1. In the # 2 example, price breaks the last new high on the 5 minute, and then pulls back. You switch to a 1 min chart to monitor the pull back and take the trade when price reaches the rising 20 ema. But on the #1 example there is no mention of using the 1 min chart to monitor the pull back. So I don't quite understand it. In my experience price is notorious for pulling back after it breaks the last new high. I don't think I could place a buy stop a tick above the last new high on a 5 min chart because I would expect it to pull back. I am very new to all of this so I am not arguing, but more asking. I have seen you mention a couple of times about using a 1 min 20 ema on a 1 minute chart. Isn't a 20 ema on a 1 min chart by its very nature going to be a 1 min 20 ema? I mean, you can't put a 5 min 20 ema on a 1 min chart, right?
Tactic #2 is my most favorable trading setup. Tactic #1 works well in instruments that have a lot of inertia, such as CL or strong momentum stocks, and it requires a strong trend, not a wide channeling trend that cuts through a 20EMA. I wouldn't use Tactic #1 with index futures, for the very reason you mention.
You can put a 5min 20EMA on a 1min chart; just add a 100EMA in the 1min time frame. The reason I made the distinction is because many of the traders I worked with had some confusion about that.
Hi, NoDoji!How the going?
NoDojie
I pretty much use the idea of your #2 setup exclusively. The #1 setup works often. You can see it all day long on the charts, but I feel waiting for a pullback offers a higher percentage of profitable trades. I can't forget something a mentor impressed on me several years ago. "Breakouts are for newbies." Although breakout systems seem to be pretty popular. I prefer to let the stops get hit, see how it plays out and trail a pullback for entry. If I get left behind, there is another train on the way.
Where I make an exception is after a strong run either up or down with a reversal pattern setting up. That first breakout often does not come back to test for a while it seems.
I also do not use any moving averages, or other indicators, except to watch volume for abnormal spikes.
BTW, what time zone are you in? Your post have odd times it seems.
I pretty much use the idea of your #2 setup exclusively. The #1 setup works often. You can see it all day long on the charts, but I feel waiting for a pullback offers a higher percentage of profitable trades. I can't forget something a mentor impressed on me several years ago. "Breakouts are for newbies." Although breakout systems seem to be pretty popular. I prefer to let the stops get hit, see how it plays out and trail a pullback for entry. If I get left behind, there is another train on the way.
Where I make an exception is after a strong run either up or down with a reversal pattern setting up. That first breakout often does not come back to test for a while it seems.
I also do not use any moving averages, or other indicators, except to watch volume for abnormal spikes.
BTW, what time zone are you in? Your post have odd times it seems.