I have not found any improvement in my trading since going back to cash by using this system. It works great on a large move but Ive never had any problem making money on a large move anyhow. In a choppy market it does not perform well not that this is any surprise. I'm sure it does much better on ER2 but that contract moves a little too fast for me right now so Im back to square one again.
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Simple Profitable Method
- Thread starter trader28
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Quote from hawthtrader:
Is this thread dead now or is there anybody still trading this "system"? I'm still trying to get consistent using it on the 2 min ER2 but can't quite seem to lock it in profit mode. The best trending and re-entry (short) opportunities were during lunch time today which I normally don't trade so I was sitting on the sidelines. When I did trade I could not seem to differntiate between pull backs and reversals and got beat up pretty badly as a result.
I'm trading ER2 on 10min time frame with a discretionary exit. I do very well when I don't let my emotions get in the way (like yesterday when I did a "revenge on the market" trade, I bet you can guess the ending). I'm trading small size to work my emotions out of my system and make it more consistent.
The 2min time frame doesn't work for me. I have found that I have too many things going on during the day to do that time frame. I have also found there are more "false" signals that chew up my profit.
It would be nice if you were able to post some charts of your trades. If we can keep the chops in the kitchen and out of our trades all would be well!
Quote from Bearbelly:
I have not found any improvement in my trading since going back to cash by using this system. It works great on a large move but Ive never had any problem making money on a large move anyhow. In a choppy market it does not perform well not that this is any surprise. I'm sure it does much better on ER2 but that contract moves a little too fast for me right now so Im back to square one again.
One of the reasons this system probably doesn't perform as well in the chop and unclear trending days is due to reliance upon indicators as primary setup. No matter what time frame you use indicators will be lagging. I haven't posted much to this thread because I don't use this system, but have used the basic MACD cross with zero confirmation successfully in the past.
Just my opinion, but if one was to incorporate reliance upon price action primarily, then these indicators as strength confirmation secondarily, results would probably be a bit better. The incorporation and use of pivots would probably help returns with this system.
Just curious, has anyone tried this?
I am well aware of the lagging nature of indicators and knew that going in. I was trading without indicators before and I am back to trading without them again. I had an idea that an indicator that lagged a bit might help me as I have a problem with early entries but it didnt work. I took two early entries this morning and then my setup finally did show up and worked fine but all I did was cancel out the losses from the two early trades. It boils down to discipline and patience and a system is not going to help me there.
I'm glad someone woke up the thread. I took a lot of whipsaws last week so lost faith in the 2 min system. I'm using it more successfully this week but I'm only trading signal at major support and resistance from a 10 minute chart.
Like we made a top early this morning and it sold off to near the low of yesterday afternoon and is now back near the highs again.
nice triangle now, which way will it break? I might look at a down signal below yesterdays close of 786.1 I'm up two pts today and want to keep them.
good trades
Like we made a top early this morning and it sold off to near the low of yesterday afternoon and is now back near the highs again.
nice triangle now, which way will it break? I might look at a down signal below yesterdays close of 786.1 I'm up two pts today and want to keep them.
good trades
the triangle broke up then pulled back to the breakout point which was very near yesterdays close and right on the lower trendline and the 2 min macd crossover was almost perfect for entry on this last move.
The markets so hot now I don't know if it will pull back to this trendline again or not.
The markets so hot now I don't know if it will pull back to this trendline again or not.
Quote from beeflover:
I'm glad someone woke up the thread. I took a lot of whipsaws last week so lost faith in the 2 min system. I'm using it more successfully this week but I'm only trading signal at major support and resistance from a 10 minute chart.
Like we made a top early this morning and it sold off to near the low of yesterday afternoon and is now back near the highs again.
nice triangle now, which way will it break? I might look at a down signal below yesterdays close of 786.1 I'm up two pts today and want to keep them.
good trades
I was thinking of trading the 5 min or 10 min chart for ER as well. I usually don't trade it at all. I'm curious though, what target and what hard stop loss do you guys use?
This has been a nice run. I have enjoyed it.
What seems to be lacking in T28's original submittal is a way of quantifying an acceptable pullback before a crossover entry into a trade. It seems that not having a defined pullback allows entrance into trades that are chop trades. Adding this should eliminate a lot of the chop. I'll leave it to the more technically astute to make this addition.
What seems to be lacking in T28's original submittal is a way of quantifying an acceptable pullback before a crossover entry into a trade. It seems that not having a defined pullback allows entrance into trades that are chop trades. Adding this should eliminate a lot of the chop. I'll leave it to the more technically astute to make this addition.
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