T-REX....when will you be joining us in the real-time mIRC room? I want to see the LEGEND T-REX in action REAL-TIME -Fast
You guys must really think I'm stupid? You have seen my FAT pockets and now you want to beat me up and take my lunch money. You dont think that I know that you guys are "Bullies of the Playground". It takes one to know one and I know that you guys are REALLY.REALLY. REALLY. good. You are WORTHY opponents indeed! I promise I will show up one of these days but only after I do a few more push ups and jumping jacks. I have to REALLY get in shape first.
like NihabaAshi, I was lost after a few posts. you can call you system what ever you want but you didn't follow description of the system. I am not bashing on you or your perfect trade. problem is system was long at 1414.50 with 5.5 points drawdowns and 3 hours hold period until some changes. I don't see how it can be "scalp" and problem is - some newbie will be losing money with this system without T-REX. If you'd say buy on close of 5min above 40MA and stop on close below 40MA on 60min. it would make sense.
My friend. You still dont get it do you? let me clear it up for you. 60min chart determines the trend. You trade in the direction of the trend. You can tailor your stoploss to what suites you. 5min chart determines the entry. You wait for the bar to cross the 40 EMA to enter the trade. You set your own profit targets or use none. As for the "newbie". Remember I was a newbie once to and this is the system that "I" created. I did not get this from a book. If I as a newbie created it why is it difficult for a newbie to trade it? You cant force your own beliefs or interpretations onto a system that you did not create. You have to get right at the authors intent before you can derive true meaning from the context. That is the art and science of interpretation. or Heurmoneutic.
t-rex, my man, this is exactly why i created the one-chart version. what you are talking about is using multiple timeframes at the same time, from past experience this seems to really really REALLY confuse a surprisingly large segment of the reading public. keep fighting the good fight!
Thank you my good friend. Your kind words are always a delight. I'm glad that someone out there got it. Although it was only a handful I'm still glad that I was able to do it. I think that I also inadvertantley proved that there are many a LOL out there just waiting to be annoying in an attempt to spoil it for those that are truely looking to better themselves. Can you believe that I was actually accused of being arrogant? How could I be arrogant when the first 10 trading days of my journal were horrible!
I disagree with Maggandre regarding the need for T-Rex to include exit rules for the 2-bar Chas in which Maggandre states: ". . . and exits are much more important than entries. " I consider entries far more important than exit rules. There are so many exit rules, pattern reversals, breaking a MA, trailing stop, predetermined target, to name a few. Best regards, JD Schaefer
Thank you for your contribution to this discussion. I also agree with you. I intentionally left out exit rules because this system is not static but rather is flexible with the market and with the user. I simply created the skeleton and now it is up to the user to exercise and mold the body of the system to meet thier personal needs. I have led them to the water now it is up to them to drink.
You're correct about the exit rules. But a system consists of more than just the entry. Every trade has to be exited some time. The exit determines whether the trade was profitable or not.