2 Bar Charlie Day Trade System ("LIVE DEMO")

Discussion in 'Trading' started by T-REX, Oct 14, 2003.

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  1. T-REX


    Today is the day that we demonstrate the live demo. Be sure to attend later today in this thread.:D
  2. T-REX


    What you will need to follow along?

    1.) Download a copy of the system.
    2.) a realtime data feed to follow along in the NQZ3.
    NOTE: I may decide to follow a stock instead of the Futures contract if I find that it better serves our illustrative purpose. so it would be better if everyone had realtime data feeds for both stocks & futures.

    3.) Go ahead and have your realtime charts up and loaded with a 40 EMA & a 5min Candle Chart (we will also use a 60 min Candle chart as well).

    Things could get rather heated today as the markets could either breakout to new highs or breakdown to new 10-day lows. This is not very probable but also not impossible. I may move very fast so if you are finding it difficult to follow along at any time during the demonstration please feel free to post and I will repeat and/or clarify. :D

    Thank You for your participation in this live demo. Let's have fun!

    :D :D :D :D :D :D :D
  3. ...is there a prob with the link to the .pdf? I couln't download it this AM. Only get an icon. Thanks. - Mike
  4. For newbies reading this thread, be very careful trading this system. T-rex posts no rules for exits, and exits are much more important than entries. Just buying or selling on a close above/below the 40MA will whipsaw you to $0. Sure, there are some winners, but there are many more losers. And distinguishing between which entries will take-off and which will turn around and move against you is the hard part.
  5. trendy


    Have you backtested this trading method, or are you just talking off the top of your head? If you have backtested it, then would you please post the results and the specific criteria you used
  6. tango29


    working for me either. Is the demo going to be via this thread or in the chat room?
  7. T-REX


    Thank You for your attendance.

    In order to follow along you will 1st need to download the system via the link on page 1. To download you must first "save as" to your harddrive then open the file in order to view it.

    We will start 9:30am EST. :D
  8. T-REX


    By now you should ALL have your realtime charts loaded and running. .......

    ....lets begin!!!

    1.) Notice how already the NQZ3 is trading below the 40 EMA?
  9. T-REX


    at this point you would either place you Buy @ 1414.50 or wait until 10:30am EST to see how the NQ is shaping up on the day.

    NOTE: you scalpers could even buy right now! use a 4 point stop loss.
  10. T-REX


    I will now take this opportunity to demonstrate a how scalping with the system is VERY difficult.

    Q) Some of you are probably wondering why I suggested buying instead of selling although the price is trading below the 40 EMA?

    A) you would not want to initially sell when the bias has been to the upside over the last several days. NOTE: we will revisit this later in the demo.
    #10     Oct 14, 2003
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