Simple Profitable Method

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Quote from fabio:

I dont understand what is the chart for? it did not answer my question.

when i suscribed to ET a year ago i did not know anything about trading, i have been reading old threats trying to learn.

thanks
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The chart visually describes what is going on. To answer your question I do not personally trade the QQQQ. You can use this system (simple profitable method) on any trending market. The average true range for QQQQ has been $.55 to $.60 per day, so you should try to capture some percentage of that. Please post your questions as often as you like. :D
 
Kinggyppo and Trader28,

I appreciate your info on charting programs. The ET thread
was very interesting. I am slowly getting my
thoughts together on exactly what kind of software I need
to trade the futures.

Don't really need a portfolio software program in that I am not
trading a portfolio of stocks. Just the futures market with good old technical indicators.

thanks

snarlyjack
 
Being I nubee here, and I have to say that I'm starting to get a bigger eyeball on the picture; thanks to lurking on this thread.

I try and read volume, use ADX/DMI, and I recently started to draw levels... as well as MACD.

I think the best things I've learned so far is, when not to pull the trigger. MACD can have a good look to it, but there may not be anything supporting its behavior. And quite possibly something contradicting its behavior.

I've learned a lot from all you consistent posters out there as to your awareness to the market.

Practice certainly helps too:)
 
Techdoodle,

Welcome to the "jungle". There lot's of fun and games here!

So...be on guard for that nasty old bear. And learn the way
of the jungle...Mogli would be proud of you...

snarlyjack
 
Except for the fact that it was right at the open, perfect 2 min ER2 SPM setup and short between 8:34 to 8:38 at ~810.5 to 811 for a $450 to $500 run down to 806 at 9:04.

How do you guys feel about getting in at the open like this?

J
 
Quote from jimns:
Except for the fact that it was right at the open, perfect 2 min ER2 SPM setup and short between 8:34 to 8:38 at ~810.5 to 811 for a $450 to $500 run down to 806 at 9:04. J
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TradeStation alert!!

I know I'm quoting myself above - but in case the quoted comments left anyone scratching their head (or anything else) . . . I started playing around with different intervals and noticed that when I went to one tick and ten tick intervals, about 20 minutes of opening data was missing. I rebooted and redownloaded data multiple times - no change. Off and on throughout the day I wondered about this and then finally checked the TradeStation forums and searched on "missing data" - damn! about every other thread has tons of stuff on missing or corrupt data and how you need to manually delete your TradeStation directory cache to resolve the problem. This appears to be a serious problem with TradeStation that's been going on for years!!!

Anyway, I deleted my cache (had to reboot first to access the folder), reloaded the 2 min ER2 data and guess what?? The 8:34 perfect 2 min ER2 SPM setup was gone! Oh, there's a setup but perfect? Nope - what I had before was a 2 min MACD crossover above the zero line and a ZLC around 8:04 - - gone! The MACD crossover is now below the zero line.

Lessons?

1. Ask your TradeStation broker for a full refund (good luck!)

2. Create a batch file that will delete the TradeStation cache and then open TradeStation - always open TradeStation with that.

3. Even garbage data will create a good trade from time to time (and a stopped clock is always right twice a day).

Sorry if my previous post confused anyone.

J
 
It's like this market's kinda timid about breaking the mornings high at 814.4. Definitely a strong resistance area.

Whoa big breakout all the way to 814.8. That's the high for today I hope cause I'm short at 814.6
 
So this morning's move which caught my eye at about 9:02cst moved really quickly. I like to try and get in a couple of ticks prior and take advantage of little corrections as it moves. The way I enter is after the move starts. This is due to the levels I draw which really help to ignore chop. Although I find myself missing moves. I feel may I need to enter at market sometimes. Maybe I need to evaluate the potential of the move and then decide how to enter.

Do any of you just enter at market? And do you see the move way early? Or wait for good evidence? I don't need to hear "entering after the move starts... it's too late" stuff. But I'm curious as to how you handle your entries.

Thanks,
 
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