Hello folks,
As you know I have a Full-Time Day Job here in California. I do not have charts and I found a broker that will accommodate me with my low volume. I find that the only way I can trade Futures is to hold 5-18 days as I cannot follow during the day.
I can get candlestick charts with a delay at the CME website for daily bars and if I have time sometime during the day I can peek at the 15 min delayed candlesticks.
I have subscribed to a newsletter for the last 2 years and find their commentary helpful. Included with this newsletter is very insightful charts with commentary and TA of several correlating and divergent charts. This helps me to stay current every evening with the markets and take the temperature of the climate.
Included with this newsletter is a nifty signal for my 5-18 day holds. I have followed it for several months and now trade with it live. The signals arrive by email to be entered at the close of the signal day.
The ability to trade a system is a disciplinary exercise in following the signals. It gets very boring waiting between signals. I have noticed that when I am short the market can bounce back and forth during the hold time (5-18 days) and I see many opportunities to "add to" at better than signal prices. I have confidence in the signal (85% winrate due to the longer type of hold time) so it really does not bother me when the trade turns against me....rather its an opportunity to "add to"....some might say this is a losing mentality...but I think it is signal and methodology dependant.
I have discovered that the signal service has turned into a sort of high probability directional indicator for me and I find myself going to the chart during the middle of my work day to look for any opportunities. Is this an incorrect way to use a swing signal "always in" reversing pivoting system like this?
I have discovered something I named, "pulling a tick". This is what I do when I have time....say I'm in 10 day short....and I am in the money and it has dipped in my direction more than the avg win to avg loss ratio. If I exited early it would not hurt the stats right? And if I got back in at say 1 tick or better when it swings back up then I am still participating in the signal. If the market never comes back up I am risking not getting the full potential of the signal but I am not risking a loss because I am flat and took the profit early.
Michael B.
As you know I have a Full-Time Day Job here in California. I do not have charts and I found a broker that will accommodate me with my low volume. I find that the only way I can trade Futures is to hold 5-18 days as I cannot follow during the day.
I can get candlestick charts with a delay at the CME website for daily bars and if I have time sometime during the day I can peek at the 15 min delayed candlesticks.
I have subscribed to a newsletter for the last 2 years and find their commentary helpful. Included with this newsletter is very insightful charts with commentary and TA of several correlating and divergent charts. This helps me to stay current every evening with the markets and take the temperature of the climate.
Included with this newsletter is a nifty signal for my 5-18 day holds. I have followed it for several months and now trade with it live. The signals arrive by email to be entered at the close of the signal day.
The ability to trade a system is a disciplinary exercise in following the signals. It gets very boring waiting between signals. I have noticed that when I am short the market can bounce back and forth during the hold time (5-18 days) and I see many opportunities to "add to" at better than signal prices. I have confidence in the signal (85% winrate due to the longer type of hold time) so it really does not bother me when the trade turns against me....rather its an opportunity to "add to"....some might say this is a losing mentality...but I think it is signal and methodology dependant.
I have discovered that the signal service has turned into a sort of high probability directional indicator for me and I find myself going to the chart during the middle of my work day to look for any opportunities. Is this an incorrect way to use a swing signal "always in" reversing pivoting system like this?
I have discovered something I named, "pulling a tick". This is what I do when I have time....say I'm in 10 day short....and I am in the money and it has dipped in my direction more than the avg win to avg loss ratio. If I exited early it would not hurt the stats right? And if I got back in at say 1 tick or better when it swings back up then I am still participating in the signal. If the market never comes back up I am risking not getting the full potential of the signal but I am not risking a loss because I am flat and took the profit early.
Michael B.
But I have not been called an investor in years.