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Simple Profitable Method
- Thread starter trader28
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Quote from trader28:
10 minute chart really just gives you a clue as to how strong the move might be, doesn't stop me from taking a 2min Zero Line cross or an MA cross supported by Zero Line
For instance the 10 min was below Zero all morning then made an MA cross (but still below zero) so the moves up have not been gigantic but still tradeable, you could ignore the 10 min all together but usually it will tell you when the big moves are in play
If the MACD 10 min MA has crossed and is above the zeroline, you will still go for both buys and sells on the 2 min chart if the criteria is met ? You just use the 10 min MACD to judge the strength of the move ?
Yes but you will find very few shorts under those circumstances, and they wont move the way longs will so it's more of a scalp, if it is really reversing there will be more shorts down the road but in all likelyhood it will just be a small pullback in an uptrend under those circumstancesQuote from vedanta:
If the MACD 10 min MA has crossed and is above the zeroline, you will still go for both buys and sells on the 2 min chart if the criteria is met ? You just use the 10 min MACD to judge the strength of the move ?
Quote from CFerret:
Hi trader28,
Thanks a lot for interesting system.
I have the following question: you said your realistic win rate is around 60%, but what is your average loser size? You said your winners are 2 points for ER2 and it's interesting what is your average R:R?
Thanks in advance!
Janis
Close to a point, used to be much worse but the more you practice the luckier you get... but I can still have a trade now and then when I get stubborn and the market spanks me to remind me who's boss, old habits die hard but this is one of the few professions where the older you get, the better you get, every really great trader I know is over 50, I'm not so, I still make rookie mistakes
Quote from trader28:
Yes but you will find very few shorts under those circumstances, and they wont move the way longs will so it's more of a scalp, if it is really reversing there will be more shorts down the road but in all likelyhood it will just be a small pullback in an uptrend under those circumstances
So as a beginner using this method would you advise that it is probably better to only go for buys in this scenario and ignore all sells, conversely if 10 min MACD is bearish, below the zero line then stick to sells ?
Yeah, I also feel I need more experience so much!
But still, what is your average risk/reward lately? Do you use stops or exit for a loss only when MACD signals (crosses in opposite direction)?
Janis
But still, what is your average risk/reward lately? Do you use stops or exit for a loss only when MACD signals (crosses in opposite direction)?
Janis
Quote from trader28:
Close to a point, used to be much worse but the more you practice the luckier you get... but I can still have a trade now and then when I get stubborn and the market spanks me to remind me who's boss, old habits die hard but this is one of the few professions where the older you get, the better you get, every really great trader I know is over 50, I'm not so, I still make rookie mistakes
Yeah for sure until you are more comfortable and have some screen time under your belt with this system... it's like flying a plane, you want ten thousand hours in the air to be a good pilot, we need realtime screentime to be good tradersQuote from vedanta:
So as a beginner using this method would you advise that it is probably better to only go for buys in this scenario and ignore all sells, conversely if 10 min MACD is bearish, below the zero line then stick to sells ?
Quote from CFerret:
Yeah, I also feel I need more experience so much!
But still, what is your average risk/reward lately? Do you use stops or exit for a loss only when MACD signals (crosses in opposite direction)?
Janis
A lot of traders say 3 to 1 ratio in trading, I use 2 to 1, but thats because this system has a good strike rate so I can afford to sacrifice a little ratio
I get out when it crosses the SMA and looks like failing, that is generally around the 1 point mark on average anyway
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