Sort of....Break Support on 30, rally on 5, pullback on 1 for the entry.
This is as much as I can share.
Keeping Records
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Sort of....Break Support on 30, rally on 5, pullback on 1 for the entry.
This is as much as I can share.
Thanks, don't mean to pry. Can you say what entry time you are talking about in that example. I got lost.
I am backtesting, and it is 20 seconds between iterations. Not enough time for me to concentrate on what you are saying, haha!
I am backtesting, and it is 20 seconds between iterations. Not enough time for me to concentrate on what you are saying, haha!
The entry time was 12.22pst and exit was at 12.39. The order would have been entered at 12.20pst.
Buy limit was at 26.25, price came down to 26 and exit was at 34.
Here is the 1 min chart. I have market the entry and exit. This was one of the strong set-up. I was going through my trades and noticed that strong set-up almost always makes money and a failed strong set-up can be used to go the other way. The weak set-up makes monney if it is above prior day's low and the bad set-ups almost always loses money.
Thanks again for explaining. I trade off of one second and one minute, so I was having trouble understanding it from your triple-screen. Nice setup!
My dear Donna, I could not possibly have creeped you out in one second as fast as Jack creeped me out saying you had come to visit him at his house, one hopes when Saint Liz was home. But I forgive you anyway. I trade off of one second for a variety of reasons. First, my systems are designed to enter exactly on the end of the minute, at second 59. Why? Because at the change of the minute, like as not, the spread widens to two ticks to screw system traders out of a tick. Second, I want to measure my sloppage with no ambuggeryouity. I use a half tick average in my backtesting, and I want to make sure that estimate accurately reflects unreality. Third, I put all my significant S/R on the one-second chart, because touches of S/R often occur for only a second or two, and I want to nail the exact touch in my indiscretionary trading. You have not been here long enough to have read my entire oeuvre, but years ago I edifried ET by definitively correlating trading to sex. It's like this. One second you are not having an orgasm, and the next you are. In trading, we want the equivalent of a continuous orgasm, which a few lucky girls can have. Finding such trades is as hard as finding such girls. One must do a lot of diddling in either case.
My, my, my, how the facts become so rapidly distorted.
I didn't actually meet him at his house. We met at an undisclosed location deep in the bowels of the earth, protected by a meter-thick layer of caliche. Liz stood guard with an AK-47 in one hand and a copy of Al Brooks' "Reading Price Charts Bar By Bar " in the other, while Jack performed a Vulcan Mind-Meld until his massive knowledge was transferred and my former FTT was finally overcome. I told Liz the AK-47 was unnecessary since she had a far more powerful trader-repelling weapon in the other, but she was taking no chances.
Someone recently told me I trade sexy. I'm worried this guy has a way of hearing the sounds coming from my office while I'm in trades...
Oh. OK. That makes a much better story. But Liz with an AK? Not her style. I fantasize a six-inch metal tipped spike stiletto mule held by the toe (my own weapon of choice). Years ago you could Google her and find photos of her that made me fall desperately in love (I am an old guy). Once I had hopes that when Jack is gone...but hate mail disabused me of that notion. As to your trading noises, endorphin release is good. Alas, I release them most often at my age with screamed four letter words, typically within two minutes of entry (trade, that is).
But we pollute our newfound friend Gradge's thread with lascivious trash talk.
So I must offer some gratuitous advice: Gradge, you are momo trading. The cure is painful.
But we pollute our newfound friend Gradge's thread with lascivious trash talk.
So I must offer some gratuitous advice: Gradge, you are momo trading. The cure is painful.
As I had mentioned earlier that I had paper-traded this set-up for the past 3 months and the results were good. This is a long only strategy and the market had more down days than up days in the past 3 months. I feel good about this because I was able to do good with a long only set-up even on down days.
Today I went over the previous six month's charts and looked further. I noticed few thing and will incorporate that in my plan.
Basically, I will only take the strong set-ups, and will take it any time that I get. I will set the minium target as 8 points and may have larger targets too. Stops will always be used and a trailing stop will be used too.
My goal is to be profitable every month. Looking back at my trades from last week, I was happy for most part. I made few mistakes but that was partly due to the fact that I was trading real money after 3 months of paper-trading. I was a little excited and wanted the action. Now I am past that point. Now my goal is to execute my plan properly and ultimately make money.
Today I went over the previous six month's charts and looked further. I noticed few thing and will incorporate that in my plan.
Basically, I will only take the strong set-ups, and will take it any time that I get. I will set the minium target as 8 points and may have larger targets too. Stops will always be used and a trailing stop will be used too.
My goal is to be profitable every month. Looking back at my trades from last week, I was happy for most part. I made few mistakes but that was partly due to the fact that I was trading real money after 3 months of paper-trading. I was a little excited and wanted the action. Now I am past that point. Now my goal is to execute my plan properly and ultimately make money.
If I may, I would like to ask why you see this as a long-only setup? Superficially it looks to me like it should work short also.