TIMES Method

Quote from VisionTrader:

I did not pay to become a member of Traders Intl. Just wanted to do things myself. I am kind of hardheaded when it comes to that. I have done okay so far. I think the biggest thing I like about the system I have developed is the simplicity. I am still fine tuning the "subjectiveness". That's really what I hoped to do hear at ET with the input of some of you more experienced traders. I might start a separate thread and talk about my trades and strategies so that people don't get confused into thinking I am a TIMES person. Hopefully, it will bring some value to everybody.

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I used to trade Div/Conv setups many years ago using the
stochastic indicator. I learned from one on one tutoring from
Mr. George Lane, whom many consider to be the authority on
Stochastics.

Over time, I've come to realize that the indicator you use isn't
that important.

What is important, is keeping your losses small, and try to
make about 3 times the amount you're risking. So, if you're
risking 4 ticks, try to capture 12 ticks.

I don't trade this method anymore, because many times you'll
find yourself trading against the trend, which I don't feel
comfortable doing.

Also, one last warning... seeing setups in hindsight, and seeing
them in real time are two totally different worlds. In other words,
it's a very subjective method.

If you're just starting out, you'll probably be better off just fading
breakouts, which is what you'll soon realize you're basically doing
anyway, just minus an oscillator.

Hope this helps and good luck!
 

Attachments

Quote from ram:

I learned the TIMES method through a friend and paper traded it for several months. I could not get it to work profitably. I also found that using the techniques on a 3 minute chart was more rewarding than the one minute. I have since found better trading methods, though I'm still paper trading. If you want something that works, check out Jack Hershey's posts (and his followers) in "The Stochastic Indicator" thread and the "Dawg pound" thread (Journals). That's my 2 cents.
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Ram - What were SL and TP levels for the 3M charts? This is interesting, I am taking a look at it.
 
Quote from VisionTrader:

I hate to ask this, but could you give me an explanation of what is meant by "Fade a breakout". I have never really understood this term.:confused:
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No problem...I remember when I didn't know what a future was!:D

These are breakouts of the 30 period price channel. As you can
see, if you had gone short instead of long, you might have done very well on these 4 trades.

Fading a breakout just basically means doing the opposite
of what you're supposed to do.:D
 

Attachments

Quote from Breakout:




No problem...I remember when I didn't know what a future was!:D

These are breakouts of the 30 period price channel. As you can
see, if you had gone short instead of long, you might have done very well on these 4 trades.

Fading a breakout just basically means doing the opposite
of what you're supposed to do.:D
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Thanks alot Breakout. These would have been "short" signals for me too, the difference is that I am more hesitant to take this position on a strong uptrend day. Is this the type of system you trade regularly? Judging from your handle that is.

What is the time frame on your chart for the "30 periods"?

Again, thanks for taking the time.
 
I tried SL and TP levels of -3 and +3, and -4 and +4. Don't recall now which was more effective. Suggest you do some testing of your own.

---------------------------------------------------------------------------------Ram - What were SL and TP levels for the 3M charts? This is interesting, I am taking a look at it.
 
Quote from VisionTrader:



Thanks alot Breakout. These would have been "short" signals for me too, the difference is that I am more hesitant to take this position on a strong uptrend day. Is this the type of system you trade regularly?



No, I trade pullbacks mostly. Heres a
Chart that I posted recently.




Judging from your handle that is.



That's just a handle I picked. Actually, I
tried Pullback the first time, but sombody already had it.


What is the time frame on your chart for the "30 periods"?



It's a 133 Tick chart.


Again, thanks for taking the time.


Not a problem
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Quote from Breakout:




No problem...I remember when I didn't know what a future was!:D

These are breakouts of the 30 period price channel. As you can
see, if you had gone short instead of long, you might have done very well on these 4 trades.

Fading a breakout just basically means doing the opposite
of what you're supposed to do.:D
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Thanks for a chart. Where do you place buy(sell) orders ?
I am thinking, high(low)of the penetration bar ?
Thanks again,
Walter
 
Quote from Walther:



Thanks for a chart. Where do you place buy(sell) orders ?
I am thinking, high(low)of the penetration bar ?
Thanks again,
Walter
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If it was me, I'd just go short as soon as the price bar breaks
the channel, and have a 4 or 5 tick mental stop in. If the trade
went my way 3 or 4 ticks, I'd lower my stop to breakeven, then
try to capture 12 to 15 ticks.
 
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