I wouldn't hesitate to use KY jelly..., mixed with peanut butter (the extra crunchy kind) if it'd help
How one gets there is of little consequence
Only that ones does..., and is able to remain
RN
The student is ready
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I wouldn't hesitate to use KY jelly..., mixed with peanut butter (the extra crunchy kind) if it'd help
How one gets there is of little consequence
Only that ones does..., and is able to remain
RN
Not sure if you are slagging me or not, but it really doesn't matter!
What I am saying, is that I have found squiggly lines, and I mean all squiggly lines, to be of no value to me, and therefore, I do not use any such indicators.
I was shown something by another trader some years ago, and it was so simple I could not understand it!
It took a few years for me to see what he really meant, and all I will say, is, in the right hands it would make more money in one year, than every trader on ET will make in their lifetime.
In case you think I am taking the piss, I am not, and I don't expect anyone to believe me, nor do I care.
I did however, promise to never reveal this very simple method to any other person, except close family member if they ever get into trading, which is unlikely.
I always keep my word.
Do anyone else need to know this simple method, hell no, as there are many ways to skin a cat, but very few that have the potential for 95% succes, when used correctly, which it has, as was proven to me by this person.
I am still struggling to match his performance, but I know the reasons why, and it is nothing to do with what he showed me, but more to do with me fuking myself up with drink and other things
J_S
Don't know what slagging means, but my post was perhaps you can skin a cat more than one way whether you use just price action or indicators during low or high volatility. I have learned to adapt regardless to the volatility, and one way to change during high volatility is reduce the signals I take or have alternative, 2nd way approach, methods for taking a signal. Say you are doing breakouts, but the bar you want to do a breakout is 3.50 points range which means to most 2 tick breakout of it and 2 ticks beyond protective stop when your normal protective stops are 3.00pts or under, you can adapt to waiting for 2 tick breakout then require retracement so you buying some many ticks above the low of that bar, say 5 ticks, so you getting a testing of the low, risking third less and looking to make third more, and you be surprised how well this approach works better than expanding the risk and going for normal 2 points target. Knowing length of wave which is ES is like 4 points, better entries happen at midpoints to captive reoccurring two point targets or since many often times previous pivot are target into themselves.
I just think it best to keep open mine of everything, just cause I can't figure how to use something, doesn't mean it can't be done by an educated trader of that area of study. There are many different ways of trading I still can't figure out well enough to include in my Trading Plan to make it better and yet others do incredible with them. Most of those I have helped privately can also see 5% losses is possible, but it doesn't happen over nite and why it takes a solid two years of study to get reasonable close.
I have studied so many different approaches to include flipping coins and with proper money management, that can be profitable, juist comes down to management.
I wish you and all well in your trading, just keep an open mind.
Handle
We all know that to be true about skinning cats, and we all know some ways are much much better than others.
It is all relative, as money makes money, and the more you have, the more you can make, providing you are smart enough to not get greedy and start overtrading, or taking on unnecessary risk.
Some "expert" just lectured me on risk adjusted return
, if only he knew what I know, he would not be lecturing me, but alas, what is, IS!I am out of jail, so will be returning to my place of interest.
J_S
If you found something better than what you are doing but it had moving averages, it didn't increase you risk, decreased your drawdown, would you change, or would you not be open for change and just continue down same path? That is all I am saying, too many people don't even allow for being open and extremely rigid. It is one thing to have defined rules for Trading Plan, it is another not be open for other ways to skin a cat.
Hey Boss, I hear ya saying the udders nite to LF we a getting next years new model for them Saturns, 1999, whoo boy, eyes can't wait fer them. Theys gots that new color evrybodies wanting Pigeon Maroon.
No problem H, I'm always openminded and curious but without evidence being supplied I tend to do my own investigations to validate an idea.
There is a chap here who you may be able to help:
http://www.elitetrader.com/et/index...ollors-my-charts-based-on-macd-and-ma.297905/
I tested a method some years back based on Macd and EMAs, it comes out profitable, just not well enough for me.
I did send him previous post of perhaps others who could code what he needs, I have never used that software he uses.
I do use MACD for Long term Commodities on Monthly and weekly charts, I like it as it is slow.
How does UK tax traders?
Peegin poopy ma az - dat a rolin art mastur peeec
Amma chargin $6K fer dat dun der
Ma Ma b happpy r than a pig in mud
Ya dun gud H
Butcha gots ta keep dooin gud
Ma Ma needs knew teeth dont cha no
RN
I can't believe you went 10 without sending a single order, without experiencing the thrill of making and losing money, even if in small amounts.
I'm still here. Looks like you guys had some good discussions while I was at my other full time hobby. I plan to read every word carefully in this thread because I know that at least a few of you are veteran day traders who have much more experience in this business than I will ever have. So beware that I am taking notes! I am working on better defining my setups and hope to have something put together before next week. Now for Trade #2 and some followup discussion as to why I took it.
Trade #2: I entered my order for this trade this morning before work and my buy stop limit was triggered sometime during the day. My initial risk is 1%, which which combined with trade #1 puts me at a 3.5% outstanding initial risk for stocks and stock index futures. According to my trade plan I am only allowed a total of 4% initial risk on the table for stocks and stock index futures so until I am stopped out or raise my initial stop loss I will not be entering any more stock or stock index future trades. This will take discipline for me to not take the additional setups as I wait to see what happens with these first two trades. Tonight, in the daily timeframe, I see a couple of half decent setups in the currencies and commodity markets, but I want to only choose the best setups for actual trading until I gain more skill and confidence. I will start paper trading these half decent setups, as I have time, to develop more experience and consistency.
Instrument: NXPI (US stock)
Timeframe: Weekly
Setup: Reversal
Entry Price: $69.69
Initial Stop Price: $61.60
Trade Type: Swing
Initial Target: $85.73 (Support/Resistance)
Instrument: NXPI (US stock)
Timeframe: Weekly
Setup: Reversal
Entry Price: $69.69
Initial Stop Price: $61.60
Trade Type: Swing
Initial Target: $85.73 (Support/Resistance)