Simple Profitable Method

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Quote from Razor:

Some serious chop out there right now if using the fast MACD, better to just wait till after 1pm EST I assume.
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Yes, we're trading in a 3 point range since 10am est. You're just not going to get 1.50 targets hit in that type of narrow trading.

Even so, if all signals were taken with targets, stops, and reverses, you'd be down about 1.30 points.

There was even one signal that hit +1.40, but was a S/R for only a .10 profit.

For those that trade the ES and YM, you would have faired much better, especially if your targets were more modest.
 
2pm update:

4 winners and 12 losers for -.50.

Not bad being down only .50, obviously there was a lot of chopping with reverse signals.

During the 11:30a-1pm time frame: 5 trades for a -1.40 (one winner for 1.50). Could have saved myself some money by taking off when the big guns go to lunch. This is as expected. We already know 11:30a-1pm is not a good time to try to catch any type of short term trend move.
 
That just reversed into a long ....yup some serious chop today, long was fast macd divergence and then ZLC and slow macd ZLR...fwiw
 
That was a full winner.....only full winners I see today are both off the SLOW macd one ZLC trade morning and this last ZLR, this makes logical sense as the chop would affect the fast MACD more obviously :D
 
Quote from Razor:

That just reversed into a long ....yup some serious chop today, long was fast macd divergence and then ZLC and slow macd ZLR...fwiw
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Yes, since 2pm there have been 4 signals with 1 winner, for a loss of .50 for the hour..

It's been very choppy using this system with a lot of trades and down -1.00, which really isn't too bad for a system hitting less than 30% profitable trades today.

This is daytrading. You spend 70-80% of your days chopping around and 20-30% hitting the cover off the ball (hopefully).
 
Quote from DonKee:

Yes, since 2pm there have been 4 signals with 1 winner, for a loss of .50 for the hour..

It's been very choppy using this system with a lot of trades and down -1.00, which really isn't too bad for a system hitting less than 30% profitable trades today.

This is daytrading. You spend 70-80% of your days chopping around and 20-30% hitting the cover off the ball (hopefully).
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I hear ya :D

But since you have started looking at this method (think you said about 4 weeks) there have not been many losing days have there ?
 
Quote from Razor:

But since you have started looking at this method (think you said about 4 weeks) there have not been many losing days have there ?
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I started developing the system about 4 weeks ago when I saw this thread and trader 28's info.

I've only been tracking the system since the first of the month and trading it for 9 days.

Not much for sample size, but it's given me a great addition to my other trading systems.

I am really happy with the small losses. Today was the most trades taken in a day and really a little excessive for my energy level. 6 winners out of 20 trades is a horrible win/loss ratio, but it's only down commissions of 1 point ($5*20).

For those of you who are good at identifying "flag" and "sideways" patterns, these entries look pretty good.

Bottom line so far, this looks really good, is very simple, and has been profitable.
 
Excellent Donkee, appreciate the feedback, needless to say if one can produce a consistent $1,000 per week (net after commish and fees) per contract they should be very happy, I think you achieved about $2,500 net on 4 days but I would like to assume that was exceptional results and will not be easily duplicated :D
 
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