tampa's "short skirt" trades...
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Basic Set up: One, three, and fifteen-minute charts. All with Five, Twenty, and Sixty EMAs.
A Ome-minute TICK chart is very helpful for determining hot spots in the market.
If you need help in determining the short-term trend OB/OS areas, I suggest Quahâs Two-minute 17-1-17 Stochastic.
Profit Target = 2 ES Points.
Stop Loss = 2 ES Points
Object: To capture quick, high probability moves in the direction of the current trend.
What to look for: All three moving averages on the one-minute chart headed in the same direction.
Entry: When the 5 EMA pulls back toward the 20 EMA, and then starts to roll over back in the direction of the trend, enter at that point
VERY IMPORTANT: Place a profit objective 2 points from entry fill price, and a 2 point stop-loss immediately â without fail!
The astute amoung you will instantly recognize this method as buy/selling bull/bear flags. And of course thatâs what it is â plain and simple.
Some added ârulesâ: Do not enter a trade if all three EMAs are bunched together on the one-minute chart. Or if the 20 and 60 EMAs are bunched up on the three-minute chart.
Avoid entering a trade if the one-minute trend is overbought, or oversold. But how are you to know that? One way might be the 17-1-17 stochastic. The âslowâ line has proven to be a very good indicator â not perfect, but very reliable. Remember, those settings are for a two-minute chart!
Keep an eye on the NYSE Tick. If it approaches + or â 800, be ready to cut and run, even if you have not yet met your profit objective.
The trades will tend to work best during the first and last two hours of the day.
And that is pretty much it. Iâll bet that you are disappointed. Thatâs OK. I am not offended. This âmethodâ is set up for me. You are welcome to it, if it pleases you. But it donât make no never-mind to me if it does not.
I need the visual confirmation as provided my the various EMAs. And the push as provided by the 5 period EMA. Together they give me the courage to jump in!
I do not present it as anything other than what it is â My way.
There is nothing magical about the EMAs â simple moving averages may work just as well. The parameters may also be changed â a 4 period, or even an 8 period average may work just fine.
The 2 point target, and 2 point stop are simply numbers pulled out of thin air.
I am not interested in defending or debating the merits of the method. If you have a reasonable question or two, I will do my best to answer. I will post daily results for at least the next few weeks â beyond that, whatâs the point.
So thatâs it, gang. I hope that you didnât cancel any plans in order to be around when I posted this.
I need the courage to trade early and often. This baby seems to do the trick.
Yâall be good now!
A Ome-minute TICK chart is very helpful for determining hot spots in the market.
If you need help in determining the short-term trend OB/OS areas, I suggest Quahâs Two-minute 17-1-17 Stochastic.
Profit Target = 2 ES Points.
Stop Loss = 2 ES Points
Object: To capture quick, high probability moves in the direction of the current trend.
What to look for: All three moving averages on the one-minute chart headed in the same direction.
Entry: When the 5 EMA pulls back toward the 20 EMA, and then starts to roll over back in the direction of the trend, enter at that point
VERY IMPORTANT: Place a profit objective 2 points from entry fill price, and a 2 point stop-loss immediately â without fail!
The astute amoung you will instantly recognize this method as buy/selling bull/bear flags. And of course thatâs what it is â plain and simple.
Some added ârulesâ: Do not enter a trade if all three EMAs are bunched together on the one-minute chart. Or if the 20 and 60 EMAs are bunched up on the three-minute chart.
Avoid entering a trade if the one-minute trend is overbought, or oversold. But how are you to know that? One way might be the 17-1-17 stochastic. The âslowâ line has proven to be a very good indicator â not perfect, but very reliable. Remember, those settings are for a two-minute chart!
Keep an eye on the NYSE Tick. If it approaches + or â 800, be ready to cut and run, even if you have not yet met your profit objective.
The trades will tend to work best during the first and last two hours of the day.
And that is pretty much it. Iâll bet that you are disappointed. Thatâs OK. I am not offended. This âmethodâ is set up for me. You are welcome to it, if it pleases you. But it donât make no never-mind to me if it does not.
I need the visual confirmation as provided my the various EMAs. And the push as provided by the 5 period EMA. Together they give me the courage to jump in!
I do not present it as anything other than what it is â My way.
There is nothing magical about the EMAs â simple moving averages may work just as well. The parameters may also be changed â a 4 period, or even an 8 period average may work just fine.
The 2 point target, and 2 point stop are simply numbers pulled out of thin air.
I am not interested in defending or debating the merits of the method. If you have a reasonable question or two, I will do my best to answer. I will post daily results for at least the next few weeks â beyond that, whatâs the point.
So thatâs it, gang. I hope that you didnât cancel any plans in order to be around when I posted this.
I need the courage to trade early and often. This baby seems to do the trick.
Yâall be good now!
hey tampa
i was gonna write a kinda wordy "advice" response (i hate those!) to you, but i notice that you only begun this thread a week ago. so i think i'll give what you're attempting a bit more time to pan out (even though it seems you're already talking about making wholesale changes. christ man! give it a chance!)
i'll just say a couple of things for now:
1) if you have an objective stop-loss point, there should be no reason in the freakin world to feel "scared" to take a trade. you're trading US index futures for fucks sakes! the moment your stop gets hit, YOU'RE OUTTA THERE, in a split second!! how fuckin hard can that be???? shit, with an objective stop loss there's practically not a trade in the world i wouldn't take. with an objective stop loss, the Sears tower could be taken out and i'd bottom pick it. (not that i trade that way, just tryin to make a point.)
2) your style seems to take very few trades a day, often less than 5. i'm not sure what the percent accuracy of your style is, but let's assume its about 50%. with less than 5 trades a day, its practically a given that your gonna have some days with only 1 or 0 wins. practically a given that you're gonna have a couple or three days in a row like that! right now, your reaction to such events seems to be, "oh my god! the method sucks! i'm giving up on it! look at so-and-so's method, he had 10 winners today! argghh poor me!". bro, if your style does indeed have a positive expectancy, you gotta give yourself a chance to realise that expectancy! hint: fuck the day to day performance! take the trades as robotically as possible, and keep that working eye
)) on the big picture!!
i notice you've tweaked a bit in the last couple of posts and now you're posting like you're the greatest thing since sliced bread. (unless you're kiddin. hope so!) all the best to you. you can tell me to go screw myself if you like, but imo, a manic-depressive attitude like that is an express ticket to the poor house.
i was gonna write a kinda wordy "advice" response (i hate those!) to you, but i notice that you only begun this thread a week ago. so i think i'll give what you're attempting a bit more time to pan out (even though it seems you're already talking about making wholesale changes. christ man! give it a chance!)
i'll just say a couple of things for now:
1) if you have an objective stop-loss point, there should be no reason in the freakin world to feel "scared" to take a trade. you're trading US index futures for fucks sakes! the moment your stop gets hit, YOU'RE OUTTA THERE, in a split second!! how fuckin hard can that be???? shit, with an objective stop loss there's practically not a trade in the world i wouldn't take. with an objective stop loss, the Sears tower could be taken out and i'd bottom pick it. (not that i trade that way, just tryin to make a point.)
2) your style seems to take very few trades a day, often less than 5. i'm not sure what the percent accuracy of your style is, but let's assume its about 50%. with less than 5 trades a day, its practically a given that your gonna have some days with only 1 or 0 wins. practically a given that you're gonna have a couple or three days in a row like that! right now, your reaction to such events seems to be, "oh my god! the method sucks! i'm giving up on it! look at so-and-so's method, he had 10 winners today! argghh poor me!". bro, if your style does indeed have a positive expectancy, you gotta give yourself a chance to realise that expectancy! hint: fuck the day to day performance! take the trades as robotically as possible, and keep that working eye
)) on the big picture!!i notice you've tweaked a bit in the last couple of posts and now you're posting like you're the greatest thing since sliced bread. (unless you're kiddin. hope so!) all the best to you. you can tell me to go screw myself if you like, but imo, a manic-depressive attitude like that is an express ticket to the poor house.
I suppose that there is truth in what you say. But there are things that you are unaware of. The work I am doing on the 6.371 Double EMA has blown me away. And another member turned me on to Gann's Rule of 44. These things have changed my entire way of thinking. So of course I am at times hesitant - at other times, manic.
"Whatever amount of capital you use to trade with, follow this rule: Divide your capital into 10 equal parts and never risk more than 10% of your capital on any one trade. Should you lose for 3 consecutive times, then reduce your trading unit and only risk 10% of your remaining capital. If you follow this rule, your success is sure." - W. D. Gann
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