added to short at 771.90
Simple Profitable Method
- Thread starter trader28
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looking to close position at 770.70 for hopefully a profit, 773.90 is new stop loss
)out at 770.70 at profit. That was a hard trade.
so far 65% win ratio, but my losses will be bigger than my wins. Looking to improve win ratio and decrease my loss amt.
What a nice day to watch the markets. The floor traders at the cboe and the iom pit are just wringing all of the option premium out, so they can buy em back at nice profits. LOL
I needed to make some money today, so I went back to my pivot point trading. I am lucky to be up a couple of points, just buying at the PP of 770.70-771.00 and flipping em out when they jump up a point.
I took a look at what I was doing with these macd's and came to a few conclusions.
1) Too many trades
2) Winning percentage is not high enough
So, I went back and just looked at the canned macd numbers and came to the same conclusions.
I then decided to use a filter that I am familiar with to see if that changed anything.
Basically, the filter is this:
Only take longs when you get a signal after a test of S2, S1, PP, and R1 from above.
Only take shorts when you get a signal after tests of R2,R1, PP, and S1 from below.
Do not take any trades when you get a signal as prices are in the middle of any of the PP bands.
Did this improve things? Oh yea, it bumped up the total profit and winning percentage and lowered the number of trades.
Here's the rub. If I'm going to go long on tests of S2, S1, PP, and R1 from above or short after tests of R2,R1, PP, and S1 from below, then I really don't need this macd cross as a trigger.
I'm better off just fading the PP bands as I always do and not needing a specific trigger.
I'll keep an eye on the forum to see if anyone comes up with improvements.
Good trading.
I needed to make some money today, so I went back to my pivot point trading. I am lucky to be up a couple of points, just buying at the PP of 770.70-771.00 and flipping em out when they jump up a point.
I took a look at what I was doing with these macd's and came to a few conclusions.
1) Too many trades
2) Winning percentage is not high enough
So, I went back and just looked at the canned macd numbers and came to the same conclusions.
I then decided to use a filter that I am familiar with to see if that changed anything.
Basically, the filter is this:
Only take longs when you get a signal after a test of S2, S1, PP, and R1 from above.
Only take shorts when you get a signal after tests of R2,R1, PP, and S1 from below.
Do not take any trades when you get a signal as prices are in the middle of any of the PP bands.
Did this improve things? Oh yea, it bumped up the total profit and winning percentage and lowered the number of trades.
Here's the rub. If I'm going to go long on tests of S2, S1, PP, and R1 from above or short after tests of R2,R1, PP, and S1 from below, then I really don't need this macd cross as a trigger.
I'm better off just fading the PP bands as I always do and not needing a specific trigger.
I'll keep an eye on the forum to see if anyone comes up with improvements.
Good trading.
The system as first put forth seems to work fairly well for me on YM but I think the reason is that I have been trading YM quite awhile and know when to stay out. The early moves seem to be the best and a reaction move works fairly well if the range of the first move was decent. Noontime sucks and afternoon is very iffy unless the highs or lows are taken out. My observations so far.
Yes, you could trade pivot lines but then you still need the right kind of stop since er can spike you out of the trade.
Also, it may help to watch MACD and stoch at these points to see if prices are going to go straight up and through or going to reverse. Of course you still get false signals, I guess you don't dollar cost down like I just did which can sometimes still get you a profit instead of a loss which would have happened if I used the standard 1 point stop loss.
Also, it may help to watch MACD and stoch at these points to see if prices are going to go straight up and through or going to reverse. Of course you still get false signals, I guess you don't dollar cost down like I just did which can sometimes still get you a profit instead of a loss which would have happened if I used the standard 1 point stop loss.
er has been trading around the main pivot line all afternoon, I was expecting it to either break down strong or go back up strong.
Looks like they are just running stops for those that are trying to play a breakout.
Looks like they are just running stops for those that are trying to play a breakout.
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