T-REX Journal

[richsan]

T-Rex,
As much as I would like to give you the benefit of the doubt it does seem seem as though you are dancing around here.
This thread began with a daytrade based on overnight high and low, then without explanation or warning moved to " System Variation Method", and now again without explanation or warning into a position trade. What's the story?

 

[T-REX]

Quote from ElectricSavant:

09-05-03 04:27 AM
Re: Thursday 09/04/03 PM Entries for the 09/05/03 ES trading Day


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Quote from ElectricSavant:

T-Rex,

Just to confirm.

Enter in 2 orders......and wait for the fill:

short 1019.75
long 1031.00


after the fill.........cancel the open order and bracket in the 3 point target and the 11.25 stop.

then if filled with the stop or target cancel the open order and quit for the day......if not exit at MOC and wait for your next PM post for Sunday Entries.

This is too simple

Michael B.
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You are correct.



I made your response bold for your response for reference

I don't get it???????

What is wrong with your order?
It is perfectly o.k. to set a 3pt profit target and be done with it.
I confirmed your order with you and it was fine.
Remember, the methodology can be adjusted to the individuals needs. Some people would rather than placing a "Mental Profit Target" such as I do to just place the buy or sell limit profit target orders and be done with it! There is nothing wrong with that.

However, as to what MY plans are. I think I was quite clear as to what I was hoping to accomplish with this trade.
Please do not confuse the "Day types" or rules. Today was not a "GAP-MOVE" day it is a "BREAK-OUT" day. Please review the definitions of the 3 day types.

Also please PM me so that you and I can chat off line.
Our conversation should be separate to what this thread is trying to accomplish.

 

[richsan]

I may be wrong but I don't recall any "definitions" (or more importantly criteria) given for these three types of trades.

 

[T-REX]

Quote from richsan:

T-Rex,
As much as I would like to give you the benefit of the doubt it does seem seem as though you are dancing around here.
This thread began with a daytrade based on overnight high and low, then without explanation or warning moved to " System Variation Method", and now again without explanation or warning into a position trade. What's the story?

First of all let me clear up a few things here.
My original intent was to walk you through the methodology step by step and each day focussing on a different aspect of the system along with what to watch for and some trade secrets I've picked up over the years.

I see that I have lost some of you so let me DISCLOSE a truth for a moment.

Let me give it to you straight!

The correct name of the system here is the "VOLATILITY BREAK-OUT SYSTEM"!!!!!!!

The system is based on several different methodologies roled into one. Believe it or not I designed this system to trade on different time frames with different strategies for each time frame.
the system is centered around 2 market types: Trending & Non-Trending. 3 types of Entry Days or "Market Set-Ups: GAP-MOVE, BREAK-OUT, & TRENDING.

My intent was to create the "HOLY GRAIL". My quest began back when I was a Futures Broker. I had clients that had limited time horizons, those with longer term horizons and those who wanted the right now! In order to accomodate them all I had to have 3 different types of systems going constantly. They all worked very well so I decided to program a system that was robust that could trade: STOCKS, STOCK INDEX FUTURES, FOREIGN CURRENCY, & BONDS & COMMODITIES.
The result was "Volatility Break-Out System".

 

[ElectricSavant]

I have made a mistake and did get confused. I must do this in private with t-rex.

Excuse my comments in this thread....I got upset, which I very rarely do publically. I apologize to the thread and the moderators.

T-rex has many systems and methods...and I honestly do not know how he keeps them straght.

I must contact him about the stop loss amount....perhaps it is only 5 points for my style of trading.

Michael B.

 

[T-REX]

The great thing about my methodology is that it can be tailord to the individual's trading style and needs.

That's why I set 3 pt profit targets on "GAP-MOVE" days
with 4.25 - 7.25 stop losses.

That's why I use "Volatility Stop Loss" on "BREAK-OUT" & "TRENDING" days.

Volatility Stop Losses can very depending on market conditions.
I understand that most traders on these boards are horrified with the concept because it doesnt cater to a daytrading mindset ALL the time. the signals change from day to day. The system was designed to adapt to changing market conditions.

 

[T-REX]

Quote from richsan:

I may be wrong but I don't recall any "definitions" (or more importantly criteria) given for these three types of trades.

My system is "Private" so I dont get into calculations and what not. However, I do share basic consepts and theory behind each trade. I have despirately tried to convey my thoughts as clearly as possible. I have even posted a "WHIPSAW" thread to inform those of some of my thoughts on the overall market unrelated to this thread. just my basic opinions.

I must admit I do believe that MOST of the time my coments outside of this journal go IGNORED!!!! so I keep my opinions to myself and just consentrate on banging out the trades and watching my profits grow.

Work with me. I can only reveal but so much without confusing things so I just try to keep it simple.

I'm open to suggestions that you all may have that could make this a much more clearer journal.

Thanks for all of your constructive feedback.

 

[T-REX]

Quote from macal425:



If you are posting trades then of course it makes sense to give the overall intention of 'each' trade, unless you post an exact plan that encompasses all trades and leaves no room for ambiguity whatsoever. This should include entry, potential target, timeframe, stop etc... If you enter or exit a trade that was not part of your original plan, then you should say so here immediately, not an hour later or at the end of the day. Otherwise this journal is meaningless.

Ambiguity is one of the tools of salesmen/chatgurus and we all know that you have no intention of ever pointing us towards a website where your methods/trades are for sale.

That is correct. I have no intention of "selling" a system to the public. I just want to prove that you CAN be a winner and a BIG WINNER AT THAT!!!!!
I know I got skillz! Im just here to prove it!!!
I dont like to brag I like to prove......in REALTIME! unlike the so called gurus.

Im no guru. but I can show people how to trade.

 

[TGregg]

So yer short from 1019 now, right?

EDIT: I mean, 1019.75.

 

[T-REX]

I just got filled on my short.
I will now use the buy order as my stop.
Wish me luck.