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syswizard

Registered: Jun 2004
Posts: 3606

04-10-12 04:18 PM

Quote from serioustrade:

Simple certainly is key.

On another note, I see a lot of threads on this site saying that daytrading is impossible. But a formation on a daily chart is traded the same way as one on a 5 minute chart.

Interesting comment....I've always said that as well. The only difference is time-frame and the average trade duration.
That being said, the important difference may be this:
Counter-trend strategies have been proven to be more effective INTRADAY than trend following.

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serioustrade

Registered: Apr 2012
Posts: 47

04-10-12 04:22 PM

Quote from syswizard:

Counter-trend strategies have been proven to be more effective INTRADAY than trend following.

Where is this proof elaborated upon?

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serioustrade

Registered: Apr 2012
Posts: 47

04-10-12 06:16 PM

Countertrend trading is probably actually included in my opening post, namely pullbacks i.e. buying in line with the intermediate trend but against the short term trend.

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syswizard

Registered: Jun 2004
Posts: 3606

04-10-12 08:30 PM

Quote from serioustrade:

Where is this proof elaborated upon?

Keith Fitschen's Presentation on DVD.
I see he no longer has that for sale....
http://www.keithstrading.com/

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Chris_Anonymous

Registered: Nov 2010
Posts: 163

04-10-12 10:06 PM

SeriousTrade,

I was right where you're at like less than 2 months ago.

As they say, everything works until it doesn't.

So what I've found is, having a fair knowledge of price action, I had to create a simple strategy that worked (until it didn't). That's where I'm at now. Entry, exit, scratch, filters to keep me from trading. Every day I take notes on all trades, and then after seeing what trades work more than not, I adjust and improve my strategy. Continual refinement will hopefully improve results.

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BSAM

Registered: Sep 1999
Posts: 8378

04-10-12 10:57 PM

Quote from serioustrade:

...What is your trading epiphany?...

My epiphany is that you have more than one alias on ET.
Am I right?

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