Ok, duh. Problem solved. I assumed that was the ES and didn't even look back.
Sorry, my bad.
SPM Boot Camp
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Ok, duh. Problem solved. I assumed that was the ES and didn't even look back.
Sorry, my bad.
Quote from MandelbrotSet:
Someone asked me to post a chart showing how I use the SPM.
I don't trade using the SPM. I trade using Price Action. As Trader28 has mentioned, a trader moves from trading using indicators to trading using price action as they evolve in their skill level.
But as he also mentioned, it's good to pullout the ol MACD and see if it's still "got it" ... and it has.
Here is a chart showing part of my own method (the Green and Red Arrows) overlaid on a chart which also has the MACD Line and MACD Histogram, as well as the SPM custom moving average of (3,2) <a three period moving average offset forward by two periods>
It should be pretty obvious how both he and I evolved from being indicator traders to price action traders ... the only thing is, we actually took completely different routes to get there.
P.S. My chart uses a 3 minute candlestick, not a 2 minute (different strokes ...).
The 3rd and 4th short looks iffy there, but the rest I like' em.
This is the part of SPM Boot Camp where you pull up your chair, pull out a notepad and start paper trading the system and taking notes until you know it backwards and forwards.
It's cool. I just wanted to see where my charting fell off but that wasn't the case since 2 different markets. lol
It's cool. I still want you to pull-up a chair and start taking notes on the MACD until you know it (and price action) backwards and forwards.
Trader28 and I have done/are doing this every day as we work to become better and better traders. I'm newer to this level, but he's already been on it for a while. Anekedoten figured it out and came and went.
It's the only way you learn it, and it's a natural progression once a trader becomes serious.
By doing so you will also see that there are no absolute answers. Choppy markets are always tough. Trending markets always make you feel like you're smarter than you are. Eventually you come to see that the guy who is pretending to have all the answers is the guy who has the least amount of knowledge.
For instance ... what trade am I in now?
See, it starts becoming pretty obvious,
.
See, it starts becoming pretty obvious,
.Here's the final tally, +$900 and change.
I didn't take profits on an early Long when I should have (losing profits). Then I let it turn against me and hit my stop (forcing a loss of capital). That's a double unforced error right there, but I still ended up coming out ahead.
That's the way it's going to be.
a) You're going to not take profits when you should have, and
b) You're going to have unforced errors.
BTW, my system is 80%+, but my stats have me coming in at 75%, anybody know why? ... Because I'm a human being and human beings can't trade perfectly. You can have stretches of exceptional execution of your system, but eventually you'll make unforced errors. But that's OK.
So long as you stay within the basic framework of your system, and never violate your protective stops, believe it or not, you'll come out ahead.
Why? ... probability and the law of large numbers. Which you can only put to your advantage if have capital to work with. And the only way to have capital to work with is to let your Stops protect you.
Hope this helps somebody, because I'm beat.
Good night.
I didn't take profits on an early Long when I should have (losing profits). Then I let it turn against me and hit my stop (forcing a loss of capital). That's a double unforced error right there, but I still ended up coming out ahead.
That's the way it's going to be.
a) You're going to not take profits when you should have, and
b) You're going to have unforced errors.
BTW, my system is 80%+, but my stats have me coming in at 75%, anybody know why? ... Because I'm a human being and human beings can't trade perfectly. You can have stretches of exceptional execution of your system, but eventually you'll make unforced errors. But that's OK.
So long as you stay within the basic framework of your system, and never violate your protective stops, believe it or not, you'll come out ahead.
Why? ... probability and the law of large numbers. Which you can only put to your advantage if have capital to work with. And the only way to have capital to work with is to let your Stops protect you.
Hope this helps somebody, because I'm beat.
Good night.
Quote from swordman:
I can't believe SPM kicked SCT's ass.. how could I have been such an idiot for so long?
FINALLY!!..... A shocking confession from swordsman!!! This is major news!! Jack surely will be steaming over this! :eek:
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