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Simple Profitable Method
- Thread starter trader28
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Quote from Bearbelly:
The 60 min. ES chart is building a nice ascending triangle. I think we will get a pop up soon but hard to say when. I would think tommorrow will be pretty dead. Friday should be too but you never know. I would bet we will at least test 1408 again Monday at the latest.
Yeah it's tough to say. I have seen several pre-holiday low volume days that run, because of the lack of volume.
Hi folks, I got stopped out on two trades today and have to back off trading T28's pattern until we get a breakout.
It seems to me that after a tight range has formed it's pretty obvious we could have made money selling resistance and buying support. It's also to be expected that a consolidation should occur after this last strong run up.
It's hard not want to make a trade or two a day' so I have taken way to many backlashes this last two days (3).
If you ever look at signal watch, one of the rules Ed Down's uses is, if you get stopped out, do not take another trade, in that direction, unless a new high or low is made. This rule would have saved me several hundred dinero.
When to swith gears?
It seems to me that after a tight range has formed it's pretty obvious we could have made money selling resistance and buying support. It's also to be expected that a consolidation should occur after this last strong run up.
It's hard not want to make a trade or two a day' so I have taken way to many backlashes this last two days (3).
If you ever look at signal watch, one of the rules Ed Down's uses is, if you get stopped out, do not take another trade, in that direction, unless a new high or low is made. This rule would have saved me several hundred dinero.
When to swith gears?
Beeflover,
Trader28's system basically is a good system. If their is a
problem, it is the entry signal on the zero line crossing.
It seems that the professional traders/money managers
play games at the zero line (my opinion).
So... knowing that, what do we do??? Ah... yes the big question!
In my trading I have tried the T28 system with a few experiments. Such as adding Bollinger Bands or Keltner Channel
or Volatility Breakout system's to the basic T28 system.
I am not sure what is best, but I do know that the "market"
plays around the zero line and you just have to be careful.
Bearbelly once said to buy after it crosses the zero line and
retraces. Kinda like a 1-2-3 entry.
Hope this helps you... and any suggestions you might have would be helpful!!!
snarlyjack
Trader28's system basically is a good system. If their is a
problem, it is the entry signal on the zero line crossing.
It seems that the professional traders/money managers
play games at the zero line (my opinion).
So... knowing that, what do we do??? Ah... yes the big question!
In my trading I have tried the T28 system with a few experiments. Such as adding Bollinger Bands or Keltner Channel
or Volatility Breakout system's to the basic T28 system.
I am not sure what is best, but I do know that the "market"
plays around the zero line and you just have to be careful.
Bearbelly once said to buy after it crosses the zero line and
retraces. Kinda like a 1-2-3 entry.
Hope this helps you... and any suggestions you might have would be helpful!!!
snarlyjack
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