see http://www.elitetrader.com/vb/showthread.php?s=&threadid=149700 for a profitable system for ES. But it is only 1 trade per day.
Looking for a profitable SP 500 E-mini system
- Thread starter stevenxcel
- Start date
1. Forget indicators.
2. Throw up a 610 Tick Bar chart, along with 1 min, 3 min, and 15 min charts.
3. Mark areas of support/resistance.
4. Mark higher highs, higher lows, lower highs, lower lows.
5.Learn a couple patterns (bull flag, bear flag, head & shoulders, triangles).
Trade PRICE.
If you're inclined, you can throw 34 and 200 period EMAs on those price charts to give you a general sense of "trend".
That's it! Good luck.
2. Throw up a 610 Tick Bar chart, along with 1 min, 3 min, and 15 min charts.
3. Mark areas of support/resistance.
4. Mark higher highs, higher lows, lower highs, lower lows.
5.Learn a couple patterns (bull flag, bear flag, head & shoulders, triangles).
Trade PRICE.
If you're inclined, you can throw 34 and 200 period EMAs on those price charts to give you a general sense of "trend".
That's it! Good luck.
Quote from Mr.Consistent:
Just a simple basic support/resistance if traded properly is profitable. It is the trader who makes the money, not the method or system. Therefore, how did you OBJECTIVELY determined that your lack of success is due system, and actually not due to you the way you're trading it?
This is a good post in my opinion. The turtles sort of proved this, all their traders were trading the same system but everyone had different results. Only a few really made it, some washed, and some lost.
Focus on developing yourself as a trader and then you will find your own edge, and it could take a while. Try to look at the markets in a way that nobody else does. Simplicity is usually best. Most of the time the set-ups taught in trading books don't work anymore. Lastly, when you do find an edge the hardest part of trading, at least in my opinion, is implementing that edge without emotion. Or if you are an emotionally aware person you can watch your emotions and use them to guide your trading. Buy when you are most afraid and sell when you are really happy with your profit. Good Luck
i know nothing about mechanical systems, but check out www.collective2.com and www.ampfutures.com
Hey OP, you have serveral choices:
1. Check out one of the many threads where traders puport to be giving away a free trading system, and start working at it.
2. Check out one of the many chat rooms where traders puport to be helping people with their trading, and start working at it.
3. Start reading books and studying systems so that you can begin to make heads & tails of the market.
1. Check out one of the many threads where traders puport to be giving away a free trading system, and start working at it.
2. Check out one of the many chat rooms where traders puport to be helping people with their trading, and start working at it.
3. Start reading books and studying systems so that you can begin to make heads & tails of the market.
What has been posted pretty much covers it! Read a few books and sit down with charts and study for tradeable setups. Study like you were working on a MD, JD, or a Phd. Defined, disciplined study is the answer. Not easy, but worthwhile if you put in the time. More and more studies are coming out demonstrating that the greats in most fields are people who spent many hours of focused training learning their craft. Tiger Woods, chess champs, great hitters, best doctors, etc. They study, practice, study, practice, etc.