Thank you. I also monitored 3, 5 and 7 minute charts while trading. 3 is a good compromised.
You are a slope trader? I think there are a couple of others on ET who are also using slopes.
Two Questions For Practicing Day Traders
- Thread starter ironchef
- Start date
You are a slope trader? I think there are a couple of others on ET who are also using slopes.
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Yea, I've posted a lot of charts about this and believe I am biggest proponent of using MA slopes for trend here. @speedo has talked about it a couple of times recently too.
My experience is that they can work well to give direction to trades but not to provide entry signals, and they work on both daily and intraday charts.
The main thing that will help you see if you have an edge is look at your winning %. The following is mine for the past 2 weeks. However, looking back on the trades, I really should have let some of my winners go longer. This is around equal risk vs reward for most of these trades. I would say my area where I improved was no longer trying to pick tops or bottoms. Don't assume a pivot will hold and place a blind order to try to catch a falling knife.
Feel free to post a chart for today so we can see what you are talking about in this thread.
Why? I had around the same % on my C2 Forex account and made over $ 10,000 from subscribers. A consistent win% with equal risk vs reward over many months and hundreds of trades is relevant. All of my trades were reported on C2. What people don't understand when trading is that I had down months in C2 but overall the year was profitable since overtime the system wins. Just like over time the Casino wins.
So far, your results are very good.
Keep it up!