Go read this BB and think your way to millions
http://www.scienceofgettingrich.net/action.pdf
*Ignore the sales crap halfway down the page*
Simple Profitable Method
- Thread starter trader28
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Go read this BB and think your way to millions
http://www.scienceofgettingrich.net/action.pdf
*Ignore the sales crap halfway down the page*
Trader28,
You remind me of me...
Did you see on MSNBC that the U.S. is steaming two more Aircraft
battle groups to the gulf to talk with Iran. I fear that things could
get real interesting very soon. "Gun Boat Diplomacy".
Anyway the YM does trade differently than the ER. That is why
we are always playing with SPM. Don't take it personally were just trying to make money like you "big dogs".
You know what they say: "If you can't run with the big dogs you
better stay on the porch..." Thanks for all your help!!! It is
very much appreciated.
snarlyjack
You remind me of me...
Did you see on MSNBC that the U.S. is steaming two more Aircraft
battle groups to the gulf to talk with Iran. I fear that things could
get real interesting very soon. "Gun Boat Diplomacy".
Anyway the YM does trade differently than the ER. That is why
we are always playing with SPM. Don't take it personally were just trying to make money like you "big dogs".
You know what they say: "If you can't run with the big dogs you
better stay on the porch..." Thanks for all your help!!! It is
very much appreciated.
snarlyjack
Same 3SMA+2 short trade as yesterday... same bat channel
Tell me you got it BB
*note: the 2 best trades of the day unsupported by higher time frames but no brainers on 2 min*
Tell me you got it BB
*note: the 2 best trades of the day unsupported by higher time frames but no brainers on 2 min*
Quote from romik:
But last short (ESH7) actually was backed up by a bearish divergence on 5 & 10 min frames, 2 min MACD acted as a perfect trigger point.
So why did you need the 5 and 10?
Blind Freddy could see it dropping like a rock
You don't need a surgeons knife for a steak
Quote from Trader28Lite:
So why did you need the 5 and 10?
Blind Freddy could see it dropping like a rock
if there was no divergence, then you would have bagged 2 points, that would have been more likely. Also, hourly chart's MACD was passing 0 line & it is almost never straight forward to just go long (short) at that point & not expect to be shaken out.
Longer frames rule as far as reward is concerned, 2 min MACD SPM gets you in there at the right time
Would you seriously have passed on that trade if you didn't get your divergence? The more variables, the more they'll let you down, what you are relying on the 5 and 10 for should be trade craft, fair dinkum who could not see that forming on the 2 min?
Maybe I see something from price action that you need to reference in longer time frames but even my grandmother pulls the trigger on those trades
Hypothetically speaking, if all conditions weren't there (including 60 MACD 0 line cross), then yes I would have passed on it & rightly so IMO, due to lack of potential reward in the offering.
When I had a restaurant (there he goes again) I had always gone for healthy profit margins, others that were marking 100% had either had to turn around customers at some practically unsustainable rate & others failed all together, due to lack of gross profit margins. When I started trading, for some reason I excluded that basic business principles that I previously have thought of as essential & in due time my 100% reward (or 1:1 in other words) started failing when range went down the drain. Hence I am now back to 300-500% GP margins.
All those things will let you down in the long run, today is easy, no chop, 95% of traders are doing exactly what you are doing... 5% are consistently profitable, you do the math
Think out of the box... or get buried in one
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