pitbulltrader talking crap as usual. If you don't get it by now, keep your crap to yourself.
How far off were you?
http://elitetrader.com/vb/showthread.php?s=&threadid=67197&perpage=6&pagenumber=6
My Daytrading Method
- Thread starter eminitrader007
- Start date
pitbulltrader talking crap as usual. If you don't get it by now, keep your crap to yourself.
How far off were you?
http://elitetrader.com/vb/showthread.php?s=&threadid=67197&perpage=6&pagenumber=6
It looks like we are probably going to open lower today. Although a lot can change in the next 2 hrs. before the market opens.
VR has been adjusted by a .25 pts.
So the sell-limit prices are 1295.25 or 1299.50 depending on where the market opens.
4 pt. stop or exit at close.
Alright, you know the drill.
Sell-limit: 1295.25
Stop: 1299.25
Exit at close.
Executed.
Stopped at the high of the day.
At first I was confused, but now I see what you're doing. You trade with the trend moving against you, you need a trade trigger which will tell you when the trend is moving with you.
Re-enter the trade, your analysis is dead-on and your strategy (once again), works beautifully.
You just need a crossover signal my friend (I've taken the trade with a simple 40 SMA - based on ((HLC/3)) and I think it's looking pretty good).
We'll see how it goes.
Later,
Jimmy
Can you please post an example. Thanks.
Hi emini,
I tried posting it in a word doc and it was too large, so I'm trying now as a gif file.
Basically this chart shows the following items:
1. Your value area (approx. 1292.25, my calculations put it at 1292.50, but we've addressed that issue earlier in the thread)
2. A 40 SMA (or you could use 20 SMA, 34 EMA, etc. I just like the 40 because there isn't much wiggle room with it)
3. a green arrow showing an incorrect short against the trend based on your value area analysis
4. a red arrow showing a correct short with the trend
The trade was entered at 1296.25, current holding short (stop moved to break-even +1 tick at 2.00 pts of profit).
Best regards (and keep going),
James
1. First trade stopped out at breakeven (green bar re-crossing the 40 SMA)
2. Re-entered the trade when it crossed the 40 SMA again (red arrow), closed trade when it re-crossed the 40 SMA (once again, a break-even trade).
No Losses, 2 Break-even trades.
On the whole, pretty much what I'd expect for pre-holiday trading.
Let me know if you have any questions.
Sincerely,
Jimmy
2. Re-entered the trade when it crossed the 40 SMA again (red arrow), closed trade when it re-crossed the 40 SMA (once again, a break-even trade).
No Losses, 2 Break-even trades.
On the whole, pretty much what I'd expect for pre-holiday trading.
Let me know if you have any questions.
Sincerely,
Jimmy