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Simple Profitable Method
- Thread starter trader28
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Now, the market was obviously in an uptred, with the 10 min MACD above the 0 Line and the 2 min MACD showing the waves in detail.
The SPM generated 3 buys using the basic approach, 2 of them were very successful and one generated a minor loss.
***
Simply reverse the process (and thinking, and logic) for Shorts.
While T28 can play around with this setup, the average newbie doesn't need to ... this setup generates about these trades with a high success rate every 7 trading days out of 10 minimum.
Try working with the basics and getting them right, and then you'll begin to see how simple it can really be.
Later,
JJ
The SPM generated 3 buys using the basic approach, 2 of them were very successful and one generated a minor loss.
***
Simply reverse the process (and thinking, and logic) for Shorts.
While T28 can play around with this setup, the average newbie doesn't need to ... this setup generates about these trades with a high success rate every 7 trading days out of 10 minimum.
Try working with the basics and getting them right, and then you'll begin to see how simple it can really be.
Later,
JJ
Quote from rushmere:
JimmyJam
On the 2 min chart you have shown
Where would you be looking to put your
Stops
I don't think protective stops should be used Porgie.
Cashmoney69 (whose stated goal for '07 is to loose less money than he did in '06) can help you with this point further if you need more information.
JJ
Quote from JimmyJam:
I don't think protective stops should be used...
JJ
That is a strange thing to say. How do you control your risk? What rule do you use to get out of a losing position?
Without predefining your stops in some way, the signals you highlighted lose a great deal of value.
It's one thing to post retrospective charts, it's another thing to actually trade the signals going forward.
I'll post a few charts to back myself up here.
Here's a series of SPM charts from the last few days.
Some details:
- ER2
- 2 min timeframe
- 89SMA acts as a signal filter, trading only with the trend
- Go long/short on a breach of the MACD zero line or MACD EMA, whicever is higher/lower
- 2pt profit target, 1pt stop loss
- No trading after 15.15
Some notes:
- No reentry methods used
- The 10 minute chart has been avoided, following T28's recent 're-simplification' of the SPM. (89SMA filter takes the place of a higher timeframe filter)
After 6 days, the system is down 2pts on 26 trades.
Although only a few days, this is probably in keeping with purely mechanical backtest results. It therefore seems that the role of discretion is more important than just following the signals. Addtionally, the re-entry scalps may make an important contribution to the overall system.
Would be interesting to hear other opinions on these charts.
Cheers,
es175
Some details:
- ER2
- 2 min timeframe
- 89SMA acts as a signal filter, trading only with the trend
- Go long/short on a breach of the MACD zero line or MACD EMA, whicever is higher/lower
- 2pt profit target, 1pt stop loss
- No trading after 15.15
Some notes:
- No reentry methods used
- The 10 minute chart has been avoided, following T28's recent 're-simplification' of the SPM. (89SMA filter takes the place of a higher timeframe filter)
After 6 days, the system is down 2pts on 26 trades.
Although only a few days, this is probably in keeping with purely mechanical backtest results. It therefore seems that the role of discretion is more important than just following the signals. Addtionally, the re-entry scalps may make an important contribution to the overall system.
Would be interesting to hear other opinions on these charts.
Cheers,
es175
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