Simple Profitable Method

[snarlyjack]

I think the secret to this whole thing is: It's all in how we look at the screen and prices.

God knows we can look at this thing 100's of different ways. But if we could only look at it the right way we would really have something.

I think it's all in the visual presentation of the whole thing. Wow, do I buy here or sell here? It's the precise entry/exit visualization
that we are all working on.

snarlyjack

 

[JimmyJam]

Quote from Bearbelly:

I dont know why it is so hard to stay with a friggin winner. The signal was there, my entry was great but I bailed for 23 points ...

It's understandable to want to lock in that $100, the back-and-forth chaotic movements of the indices train us to want to do that.

To counter act that instinct you might want to:

1. Take a good look at your money mangement, what performance bond are you using per contract?
2. Start keeping a diary of your trades for the day, entry, exit, result.
3. Include as part of that diary a seperate listing of the perfect trade, to see how your trade(s) match-up with them.
4. Review the previous week's action during the weekend.

Regards,

JJ

 

[princessa]

Quote from Bearbelly:

I dont know why it is so hard to stay with a friggin winner. The signal was there, my entry was great but I bailed for 23 points even though the price never closed below the 3sma and still hasnt. It is so hard to reenter after it has move signiificantly and that is why it is so important to hang with the first one but I cant seem to do it. I just got an exit signal as we speak so I should have madea little over 40 pts. I need to get a platform that can exit on signals from an indicator and walk away I guess.

you're beating yourself up over a 23 point gain? i should have such problems....

 

[Bearbelly]

Quote from snarlyjack:

Hey BB,

I tweaked my system (just a tad) that really helped.

(1) Same basic set-up as Trader28!!! (same trade).
(2) Keltner channel (10). Better view of the whole thing!
(3) Close Price (like typical price or weighted price) only close price.
(4) EMA3 as my stop.
(5) ***Real stop*** is the closeprice / EMA3.

The cross over/under makes a perfect entry/exit.
Close Price crosses the EMA3.

It's perfect, screen it up and check it out!!!
It would have gotten you about 50 perfect points.

snarlyjack

Thx but I dont see any reason to change anything. The 3sma+2 does an extremely good job of catching the meat of these parabolic moves if I could just have a little more patience.

 

[snarlyjack]

BB,

I forgot, my system doesn't have - or + offsets. So I end up Jimmy Rigging my system to look about the same.

snarlyjack

 

[jbarnby]

I trade the YM and the NQ....

I was having the same problem. What worked for me was shifting the 9sma +1. That gets me in at a decent level and I can ride most of the move. The 3 sma worked, no doubt about it, but I was getting whipsawed too often for my personality type.

Additionally, I frequently use volume charts and really like the smoothness they provide.

It's really all about adjusting and fine-tuning to find the setup that suits your trading personality.

John

 

[Mo06]

Was the link to the trading video removed from this thread over the weekend ?

 

[riaamaan]

Quote from Bearbelly:

I dont know why it is so hard to stay with a friggin winner. The signal was there, my entry was great but I bailed for 23 points even though the price never closed below the 3sma and still hasnt. It is so hard to reenter after it has move signiificantly and that is why it is so important to hang with the first one but I cant seem to do it. I just got an exit signal as we speak so I should have madea little over 40 pts. I need to get a platform that can exit on signals from an indicator and walk away I guess.

I know what you're saying BB. My theory is that since we are on a shoestring account, we don't want that profit to become a loss and fear overtakes the situation. I opened my trade at 2140 with 2 contracts. When I hit 11 points (a bit extra to cover commish), I take one off and move the stop of the second to BE +1. I have a high degree of confidence in capturing 11 points on my trades so I took the plunge to go with 2 cars.

In my perfect trade, I simply move my stop up below the bar just completed and wait to be taken out. However, the jittery movement had me close my second contract at 2157. So my victory is bittersweet.

BTW, I use the 5 min TF and my entry this morning was based on upward moving average and a breakout of the most recent high at about 2:00 Mountain time Friday. I have not yet been able to feel comfortable with the entry on a MACD crossover. Still working on that one.

 

[phil1424]

looks to me like the er is fixing to cross the 0 line , on the macd , very soon here if i have the same set up as you guys do .

 

[phil1424]

i just put another on (short) er cause the green line crossed under