Simple Profitable Method

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Quote from SamuelEngland:

Just to stick my considerable oar in a bit;

Over the last couple of weeks i've been experimenting with 10 & 60 minute charts in place of the 2 & 10.

Same methodology as described by T28, just larger time frames. The perspective is kept the same.

I find the commissions a considerable burden when dealing with 20 point moves, and emotionally I am more comfortable with the larger time frames.

Pretty corking day as it so happens, i've been short since 1pm EST on the ER2 at 770.3. There have been some really lovely long trending moves the past few weeks as well.

Might be worth considering if commissions on 'scalps' are making life difficult for you, or the cut throat speed of 2 minute trading is giving you anxiety attacks.
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I dont disagree with what your saying but your stop is probably larger than my daily loss limit. Those of us trading on a shoestring have very few choices about what and how we trade.
 
Quote from Bearbelly:

I dont disagree with what your saying but your stop is probably larger than my daily loss limit. Those of us trading on a shoestring have very few choices about what and how we trade.
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That was my initial thought, what is your stop trading this way?
 
BearBelly,

And all others. What is your entry strategy for this? I know the signals are the SMAs popping out and the MACD crosses. But I mean how do you execute your entry? You can't always just enter based on the SMA or it will sometimes turn on you pretty quickly, at least it seems to on me.

BB - what is your daily goal for the YM?
 
Quote from Bearbelly:

I dont disagree with what your saying but your stop is probably larger than my daily loss limit. Those of us trading on a shoestring have very few choices about what and how we trade.
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Economies of scale, old chap.

And to the chap who inquired as to the stop i'm using, it's up to 30 points (or $3 if you measure it that way).

Often you'll know if it's not working before 30 points is reached, as the MACD signals & entry pattern will have gone pear shaped.

I'm not suggesting that everyone should now use 10/60 minute charts, or that it is suitable for everyone, or indeed for their account size. All i'm offering is what works for me, as an adaption of the original material by T28.

One of the biggest struggles in trading is finding what works for you emotionally, as an individual. Until you can sufficiently control your emotions of greed & fear, being consistently profitable is going to be a decidedly difficult endeavour.
 
Hmm... $100 per point ?

That's pretty big.

FTSE ftrs are £10 pp, Eurostoxx50 only €10 pp.

Pretty easy to be down a couple of k on a smallish move then.
 
Quote from tyler19:

does anyone know the current contract size for er2 right now?
How much do you have to have in your account for one contract..
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Er2 is 10usd per tick. Day margin is1687.5usd at IB.
 
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