The Importance of Simplicity

but did not find anything to inspire me, and that's probably good because I have enough of my own stuff to chew on and not enough time to do everything.

Anyway, there is another thread that you guys might want to check out because it deals with the first 30 min breakout and other simple trading methods as well. It is a journal called: 'The Corallus Chronicles, ES Journal'. I am particularly happy that I found this journal because the trading methods its author uses are what I have been working on and using as well (for OEX option trading). I am about to implement them for my discretionary ES trading.

Natalie and Mike: you may want to start a journal similar to Corallus's, it would be interesting to compare the results of your methods and your thinking.

wally_
 
anticipatory the first 30 min breakout entry today would be @895.5 about 9:50 AM EST. I had some reasons to do it, something that I already mentioned in this thread among other things. However, as you know I trade systems, pretty mechanical and simple, so I did not enter.

However, all my systems went long today: @899.0, @900.0, and @803.0. I have closed my positions in two of them and I am already regretting it, but I have cleared 9+9 ES pts and I am up some 13-14 pts with the third of the systems, so I don't complain.
The last position (opened @900.0) will be closed with a MOC order.

Not a bad day at all...
 
Quote from wally_:

anticipatory the first 30 min breakout entry today would be @895.5 about 9:50 AM EST. I had some reasons to do it, something that I already mentioned in this thread among other things.
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Forgot to add that it would be a long entry. I trust my systems :)
I don't know where I would exit and that's one of the reasons why trading mechanical systems is easier. They give you clear entry and exit rules. But I guess I would try to get at least 6 pts and there were some good reasons to believe that it was a viable projection.
 
Indicators are used to measure
1.Ignorance
2.Hope
3.Fear
4.Greed

Closer the indicator is to the price-volume-time elements the better.

Remember :
If you beat the numbers to death, you will see what you want to see.
 
Mike's system (with a couple of my tweaks) couldn't have worked better today. 24.5 NQ points with no indicators, no second-guessing, no wondering what to do. I continue to be pleased with this performance.

--Db
 
Quote from rgowka1:

Indicators are used to measure
1.Ignorance
2.Hope
3.Fear
4.Greed

Closer the indicator is to the price-volume-time elements the better.

Remember :
If you beat the numbers to death, you will see what you want to see.
More...

My systems are much simpler than that. I do not you use any fancy indicators. But I know how to use what I use and how to interpret it.:D It's all about simplicity. It can also be applied to discretionary trading.

Of course, I am not infallible. That's why I use stop-losses. :D
 
Quote from dbphoenix:

Mike's system (with a couple of my tweaks) couldn't have worked better today. 24.5 NQ points with no indicators, no second-guessing, no wondering what to do. I continue to be pleased with this performance.

--Db
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Would've been tough to lose today with a trend system (unless you got antsy and couldn't let your position ride). I was up 30+ NQ points with my system. These are the days you can't miss or the chop will eat you up. BTW...have you given up on CANSLIM or are you still waiting for the M to cooperate?
 
Quote from Uncle Festus:



Would've been tough to lose today with a trend system (unless you got antsy and couldn't let your position ride). I was up 30+ NQ points with my system. These are the days you can't miss or the chop will eat you up. BTW...have you given up on CANSLIM or are you still waiting for the M to cooperate?
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Apparently quite a few people didn't do well today because they kept trading counter-trend. So I wouldn't say it was tough to lose.

As for CANSLIM, it's going to be a good long while before that particular strategy is useful again.

--Db
 
Quote from dbphoenix:



Apparently quite a few people didn't do well today because they kept trading counter-trend. So I wouldn't say it was tough to lose.

--Db
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When I say trend trading system, I'm referring to the "hop on the bus and ride it until it stops" method. Obviously, the counter trenders are the ones posting on the George Costanza thread today. :D
 
Quote from Uncle Festus:



When I say trend trading system, I'm referring to the "hop on the bus and ride it until it stops" method. Obviously, the counter trenders are the ones posting on the George Costanza thread today. :D
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Counter-trading requires more patience. You need to wait until the trend is showing clear signs of exhaustion. Most people cannot do it. You have to be almost bored waiting for this to happen, most people do not like to be bored, they cannot control their urges. Plus, sometimes, they want to show the market who is right here only to learn that it was not them again.

Believe me, the more bored you are waiting for a trend reversal to happen the more likely you are to enter at the right time.

Yeah, I am just watching Seinfeld, my favorite show. :D
 
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