Simple Profitable Method
- Thread starter trader28
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More than anything IMHO it is important to determine what market we're in. T28 method is trend following method so there must be a trend/some volatility.
Too often I try/tried this method in the wrong market and on the wrong moment.
How do we know it will be a trend day?
- higher highs or lower lows (late but safe)
- major news releases coming up (choppy days before, trending after)
- ADX indicator
- Time of the day (lunch hour = choppy, first hour=good)
- Day of the week (Mo, Tu, We: trending probability = higher)
- after trending day often choppy day
- the more choppy days the bigger the probability for a trending day following.
These are all probabilities so there's no rule. So the most important questions is: What market are we in right now? After determining high probability of a trending day any trend following method will work.
Just my opinion.
regards,
Ivo
Too often I try/tried this method in the wrong market and on the wrong moment.
How do we know it will be a trend day?
- higher highs or lower lows (late but safe)
- major news releases coming up (choppy days before, trending after)
- ADX indicator
- Time of the day (lunch hour = choppy, first hour=good)
- Day of the week (Mo, Tu, We: trending probability = higher)
- after trending day often choppy day
- the more choppy days the bigger the probability for a trending day following.
These are all probabilities so there's no rule. So the most important questions is: What market are we in right now? After determining high probability of a trending day any trend following method will work.
Just my opinion.
regards,
Ivo
Quote from Bearbelly:
The sytem would have made a fortune today.
yes, and there were some indications: The whole week has been choppy (except for the Monday after thanksgiving holiday) so it was time for a trending day. Personally I expected the trending day to happen next Monday or Tuesday but then when I saw price reacting strong on ISM index exactly at 10 and volume increasing sharply I knew today is the day and most probably it will be trending. On such days trends do not easily reverse so it's a matter of holding on. I did, but it could've been better.
regards,
Ivo
I've been trading the basic principles in T28's method (with money) for 5 weeks now.
Results are very satisfactory, averaging just under 30 points per week.
To put that in perspective, I'm aiming for an average of 8 points per week in order to achieve my desired performance level.
Early signs are encouraging.
Results are very satisfactory, averaging just under 30 points per week.
To put that in perspective, I'm aiming for an average of 8 points per week in order to achieve my desired performance level.
Early signs are encouraging.
My goal is to average 8-10 points on the ER2 a week using the 10/60min charts. The 2/10min timeframe doesn't work for me but could be great for others, just my preference. I've been trading it for 2-3 weeks off and on. My results haven't been anywhere near as good as yours (various reasons/excuses for that on a personal level, all being fixed over the next few weeks) but based on what I have seen that is very possible and I plan on joining you in being so successful. The key is to be disciplined on your entries and stick to your plan.
Good luck and keep up the great trading!
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