Simple Profitable Method

SamuelEngland · Sep 21, 2006

Roger that, Captain.

trader28 · Sep 21, 2006

Every minute in front of the screen is valuable, that last long I scalped $60 because it has been such a down day the likelihood of it going $200 is slim, you gotta play the odds, the 10 min looks terrible and adds weight to that thinking, these are the little nuances that make you a better trader, the system doesn't change but your execution and management does for the better

Slave2MYT$ · Sep 21, 2006

T28, just wondering how you determine how many contracts to trade at a go?

Thanks,
Slave

trader28 · Sep 21, 2006

3 to 5 depending on level of confidence, sometimes leave a runner if I think it's a big move

trader28 · Sep 21, 2006

Use the 10min stop here, could be a double bottom

saico · Sep 21, 2006

Quote from trader28:

Use the 10min stop here, could be a double bottom

Also like a possible H&S on the 2min. So good reason to expect further down momentum.

trader28 · Sep 21, 2006

Yep... could get uglier than a Dick Grasso lookalike contest if we break 732

olanjouw · Sep 21, 2006

here is my chart for today.
www.charts.dacharts.com/2006-09-21/O6665.png

t28 when do you enter?
Close of candle seems to be a bit early because it seems to retrace a bit after signalling. (see 10:52 and 12:06 setup)

touch of 9 sma ?

10:52 was long against 10 min chart
12:06 was big drop so you could expect a retrace

but this is in handsight and then everything is easy

any ideas?

thanks

trader28 · Sep 21, 2006

I actually use a couple of proprietary indicators from Kwikpop to fine tune entry and exit (Autostop black line, Tightstop white dotted line) Not necessary, you can use MA's but I'm used to them

http://i10.tinypic.com/2na7054.jpg

JohnHinVA · Sep 21, 2006

The Kwikpop indicators look helpful to me. Do you just lease them from the company? I assume they will work in Tradestaion as well as Metastock.

Thanks. I have enjoyed this thread.