Simple Profitable Method

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wtg beefy. I am all for sim trading but I usually discount the results by about 50%. Its really amazing what a difference occurs when you have money on the line. Your entire mindset changes. I can make a ton of money on paper but just barely keeping my head above water in cash. If and when I solve this problem I will be on my way.:)
 
Quote from beeflover:

everybody trading today must be studying the same system. I keep waiting for the crazy ass afternoon chop or some big shooter to fade one of these breakouts.

Not so far, indeed the market is behaving well. To bad it wasn't last week when I still had a live account. Oh well 7.27 points net after commish. If I can do this for a week or two, I'll refund the account.
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Yeah, it's going to work pretty well for about 7 or 8 days out of 10 ... you should try to stay with the shadow boxing for another 2 to 5 weeks, always keeping notes and recording your daily results.

I know it sounds like a lot of work, but what you're doing is training your subconscious this is a good way to trade and a profitable method. This way, when you go back to trading live, you will be able to discipline yourself better. It also is how you are going to learn more and increase your skills and proficiency with the system.

Say Jimmie, you say you're trading SPM but that macd is nothing like what I've got. There's a Jimmy Jam in the Twin Cities, MN he's quite a celebrity with Timberwolve basketball.

Actually I'm using stoch 14,1,3 and the signals are very good and firing before the macd cross. I'm using the cross of the fast line over the slow line not the zero line cross. The zero line cross on the stoch comes about the time the macd line cross and then if the macd crosses zero line all this is confirming everything.
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Nah, it's just an alias of a hip-hop artist. I used Medved QT, so I guess each software has their own slightly different version of the MACD, as well as other indicators.

Actually, I don't trade the SPM. I trade a proprietary system that I designed which includes the concept of using a higher - time/price frame to reference the true trend of the market and using the lower - time/price frame to enter positions on pullbacks against the dominant trend ...

The basic SPM works along those exact same principles ... only it isn't costing anyone over $10,00 in education/lost monies to trade it, T28 is giving it away for free.

I don't take the first stoch line cross but the second. Check it out Snarly.

14:40 792.2 high is probably it for the day. Thats a major pivot point on the 15 min. chart and near the top of the current channel.
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Have a nice weekend all.

JJ
 
Yeah, yeah BB, I knew someone was going to say this was only paper. The Interactive Brokers system lets me papertrade more realistically though. Slippage, bad fills, screwed up executions, commissions etc.

I've trade 1000's of live trades too so there isn't a lot of difference. I never risk more than I can afford to lose when trading real money so it's pretty dang realistic.

A couple charts, I want to show Snarly the stoch and signals today. Also take a look at the perfect expanding triangle put together the last two days. That's how to spell volatility.
 

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here's the 15 minute chart

I've highlighted the expanding triangle and I wanted to show Snarly the trendlines and support and resistance lines. I think these trendlines from larger timeframes is what Jack Hershey is talking about when he says he just follows a map he's laid out on his charts.
 

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Quote from beeflover:

here's the 15 minute chart

I've highlighted the expanding triangle and I wanted to show Snarly the trendlines and support and resistance lines. I think these trendlines from larger timeframes is what Jack Hershey is talking about when he says he just follows a map he's laid out on his charts.
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This make Crowbar's head hurt.
 
Quote from beeflover:

Yeah, yeah BB, I knew someone was going to say this was only paper. The Interactive Brokers system lets me papertrade more realistically though. Slippage, bad fills, screwed up executions, commissions etc.

I've trade 1000's of live trades too so there isn't a lot of difference. I never risk more than I can afford to lose when trading real money so it's pretty dang realistic.
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Thats not what Im referring to. The sims today are pretty good. I use Buttontrader and it puts you in line for fills and I trust the results pretty well. The part that Im referring to tis FEAR and GREED. Mostly fear. Do you execute exactly the same way when you go to cash? I will let my trades play out on the sim but when money is on the line I will often bail when I shouldnt is spite of endless self admonishment. Maybe your stronger willed than I. I have quit smoking, lost weight, yada, yada, but when it comes to following trading rules I have a problem.
 
Thanks Beeflover,

I took today off (Friday), my Mom needed some help so you know who she calls...me...

Thanks for the setting, I'll check it out.

Stoch 14-1-3. But wait for the 2nd line (slow stoch) to move
through the zero line. I just put it on my screen and it looks good but you never really know until you try it out.

Thanks

snarlyjack
 
Quote from Bearbelly:

Thats not what Im referring to. The sims today are pretty good. I use Buttontrader and it puts you in line for fills and I trust the results pretty well. The part that Im referring to tis FEAR and GREED. Mostly fear. Do you execute exactly the same way when you go to cash? I will let my trades play out on the sim but when money is on the line I will often bail when I shouldnt is spite of endless self admonishment. Maybe your stronger willed than I. I have quit smoking, lost weight, yada, yada, but when it comes to following trading rules I have a problem.
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You're on a roll :D .

Yeah, experiencing the fear wasn't new, and I was able to develop techniques (practing methodology, review stratetegy ad nauseum, taking notes, self-talk) to manage it ... but the GREED, damn, when that one hit me it was stronger than you-know-what!

JJ
 
hey BB, I don't like rules I've always been contrary. I'm a risk taker and I've never seen a pause in the market I wouldn't fade; so I know what you're talking about. Take lots of trades with a wide stop and hold them... Of course if I'd stayed in the YM at 7500 this woulda worked.

Remember those 200 plus point moves daily moves? Jesus I lost money back then!

Snarly, you can just look at the chart I posted. You misunderstand what I've used as confirmation of my signal.

When the stochlines peg the bottom or the top the fast line will cross the slow line. I don't take the first cross but I might take the second. The actual trigger for entry is reversal bar so I'm in just ahead of the signal.

JimmyJam posted charts yesterday with circles. The circles highlight areas at the extremes of the stoch chart. At the very bottoms of these swings you have the fast line well away from the slow line. That is the point where you almost have to get a reversing reaction.

The trade is confirmed by a break thru the 3sma+2, then it's confirmed by the stoch moving thru zero line, about this time the macd lines cross and you get some consolidation or pause in price action, if you get continuation the macd crosses zero line and you got a good trade for sure.

I remember a guy that used to write articles called the phantom of the pits, he used the term, looking for a trade to prove correct. He was saying that you should expect every trade to go bad and defense is the key. Deciding where to exit a winning trade is a good problem.

Cut the losers short eh, BB?

Hey whose this crowbar guy with the headache. Take a look again at that 15 minute chart. That's only the key S/R areas from the last 3 days. If you're looking for a day-trade to explode past these points it may be a little unrealistic. That's all I'm saying.

Also, the expanding triangle usually breaks down, it is very bearish and I'm Beefie the Bear.
 
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