Ditch, what you're saying is the same as someone who's just won $5000 on slot machine #58 (the one waaay in the back at Harrah's) and then going home and telling all your friends that they should all go play on that machine because *LATELY* it paid out good dough). I know you mean well but only a complete fool will blindly follow such a strategy without knowing the consequenses. Unfortunately a lot of such gullible idiots appear to be frequenting this site.
Trading can be easy
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Ditch, what you're saying is the same as someone who's just won $5000 on slot machine #58 (the one waaay in the back at Harrah's) and then going home and telling all your friends that they should all go play on that machine because *LATELY* it paid out good dough). I know you mean well but only a complete fool will blindly follow such a strategy without knowing the consequenses. Unfortunately a lot of such gullible idiots appear to be frequenting this site.
So you regard risking your financial well-being (unless you're very well capitalized to begin with), not to mention a year or three (more likely) of income foregone, in order to make $3000 a month a good idea?
There's something very wrong with this picture...
Ditch, This is about all I trade. I have 3 setups in the system. You will lose money over time using fixed stops or targets. You gotta make that move from channel to channel pay. It takes a lot of faith sometimes. The stops will kill you.
The biggest long term problem is getting caught in the wrong side of a full blown breakout. bone nailed it. A fundamental shift breaks down the system. If you have your wits about you, you can flip and reverse, but it usually just about pays for the nervous breakdown.
question: I'm just using fast ma and slow ma and slope to determine trend. How exactly do you use stoch to determine trend?
As far as easy money goes, from my statistics, the difference is in the trades that set up and for some reason I don't take them. Those would have been profitable about 50% of the time. And the ones I take hit everytime there isn't a breakout to the opposite side.
My best trade only sets up once a day on average on the 5 min chart for es. Usually after 11:30 est.
tell me more about using those stochs please. Also RSI anybody.
Fourcups, you start a thread titled Seems like day trading is all but finished, and which you post the following:
It's great to hear that some people are still making money.I guess my key is my patience. I need to be sharp every minute.
And now you want to say that making 10K/mo. is not really making money trading. That's BS.
Then if thats what you think so be it! But sounds like you never made it as a trader.We don't trade for 70k a year! But you may and that is fine if you are ok with it!I have made 100k in a day and have seen a trader make 1mill from 8am to 9.30 am I guess you dont know this game but that is what it is all about! Making $.And my post about day trading all but over is that that money im talking about is gone for now we call the little guy a PIKER!But if you are happy good for you
It's great to hear that some people are still making money.I guess my key is my patience. I need to be sharp every minute.
And now you want to say that making 10K/mo. is not really making money trading. That's BS.
Then if thats what you think so be it! But sounds like you never made it as a trader.We don't trade for 70k a year! But you may and that is fine if you are ok with it!I have made 100k in a day and have seen a trader make 1mill from 8am to 9.30 am I guess you dont know this game but that is what it is all about! Making $.And my post about day trading all but over is that that money im talking about is gone for now we call the little guy a PIKER!But if you are happy good for you
Can we PLEASE keep this thread on-topic for once!
PLEASE!
The subject matter we should concern ourselves here is a particular TRADING METHOD as espoused by a very generous fellow member of ET.
This is NOT about money or your egos.
PLEASE BE RESPECTFUL OF THIS!
No more OFF-topic postings please.
You're dragging this thread off into the wild blue yonder!
Stop it.
Thank you.
PLEASE!
The subject matter we should concern ourselves here is a particular TRADING METHOD as espoused by a very generous fellow member of ET.
This is NOT about money or your egos.
PLEASE BE RESPECTFUL OF THIS!
No more OFF-topic postings please.
You're dragging this thread off into the wild blue yonder!
Stop it.
Thank you.
Ditch, thank you very much for this! Some of us appreciate an effort such as this (some, sadly, never will)
Is that an 89 tick chart? When I reproduce that chart with sierrachart using 89 ticks the chart doesn't look like yours. My chart doesn't look right.
What am I doing wrong?? Would you have any idea??
Is that an 89 tick chart? When I reproduce that chart with sierrachart using 89 ticks the chart doesn't look like yours. My chart doesn't look right.
What am I doing wrong?? Would you have any idea??
Ditch, how much discretion is used with your trade setup?
I mean is this...out of every 10 signals...how many trades do you not take because of some intuition or for whatever reason?
Do you have problems with your trade setup in trending environments...meaning within pullbacks from a parabolic price surge?
Also...I apologize for my own earlier comments that may have helped this thread get off course...
keep posting and I like how you use Bollinger Bands with Stochastics...I use them together also...some good stuff there when used in combo.
Take care Ditch.
NihabaAshi
Quote from ALICE:
Ditch, thank you very much for this! Some of us appreciate an effort such as this (some, sadly, never will)
Is that an 89 tick chart? When I reproduce that chart with sierrachart using 89 ticks the chart doesn't look like yours. My chart doesn't look right.
What am I doing wrong?? Would you have any idea??
Alice,
Sierrachart doesn't produce real tick charts. The tick bars in sierra contain a minimum of one minute of data so they'll be a little different from a true tick chart like in Ensign.
--opm8
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