Simple Profitable Method

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Bearbelly,

In the past I would have lost money on that trade. Then when it turned up I would have said dammm...

Now, I wait one more bar for it to close cleanly through the
9sma. Then I jump on it and take my chances.

I switched to colored bars instead of candles and I wait for one more bar and that seems to be helping a bit.

In the past I was losing a lot of 2-3 point moves ($15.-$20.) by being just a hair to early.

snarlyjack

P.S. I am watching the (ym) now as I type...11:45 mountain time,
1:45 eastern time. It's tough to trade that!!!At most you had 1 fast bar. But the macd is not in the right place. It might be soon but not yet, wait, wait, wait....
 
12:00 Mountain Time/12:00 Eastern Time (ym market).

It's playing with ya bearbelly...I am thinking zero line reject...

Their it goes....

snarlyjack
 
And the beat goes on...

The ym is up (110 points, right now) Elections are tomorrow.

Both the Democrats and Republicans think they are going to win!

My gut tells me this market is going to stay just about where it is, at least through the elections...That's my guess...

snarlyjack
 
I think I need two exit strategies, one for the morning and one for the afternoon. Definitely need to go for smaller targets after lunch.
 
Probably slight O/T, but a rule I have found useful with stocks is to not enter countertrend trades after midday.

I define countertrend as price above the 1 day MA.


I label these trades PCRs (PM, Countertrend Reversal) and they have been responsible for significant losses.

Statistically, PTBs (PM Trend Breakout) are much better performers.


Be interested to hear other ideas on PM countertrend entries.

Mo
 
Ok, everybody...

1:00 Mountain Time or 3:00 Eastern Time
YM Market at 12120

The perfect trade using Trader28 method...

(1) The 9-12-26 Macd is breaking to the upside (zero line cross).

(2) The price bar breaks up above the 8 or 9 sma.

(3) Its riding up the Bollinger Band.

(4) Open long trade at 1:04 P.M. Mountain Time, 12120 on the YM.

(5) 1:20 P.M. still in long trade, YM a currently at 12145. Up 25 points (5 x 25 = $125.00) Trade just hit my price target of $125.00 or about 15 minutes.

(6) Sold/Closed trade at 12146. Made $125.00.

(7) Beers on me for the house...Thank You Trader28...

(8) The Perfect Trade....

snarlyjack
 
I went long at 15:07:17 at 12929 when we took out the high. I am starting to get away a bit from anticipating the cross. Later entries but better percentage.
 
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