BACKTEST! ACT WITH DUE DILIGENCE! Look at the last week and see if you could have had good entries with T's system. Look for the best results by testing different exits. There are scads of them. If you want to be cautious, use a 2.5 points Target on the ES. See how often you would have hit with that Target. Maybe you're more comfortable with 1.5 points. Then see what retracements there would have been before achieving that target so you know where your protective stop needs to be. Remember every trade has one entry but two exits. Try candlestick patterns for reversal signals. Try something like a 6-bar CCI or 3-10-1 MACD to signal reversals. The methods are endless. Write down each exit strategy and the results. When you're done, compare the results. Look for aberrations to confirm the validity of your results. Then apply your rules farther back in time to confirm whether or not you would have made money. It's work and it should be. If it were easy, everyone would do it. Sometimes I wonder if people want to make money or just criticize those who have done their homework and do make money. Good cheer, JD Schaefer
The problem is that you want to be told when to wipe your ass and when to blow your nose? Risk/Money Management is up to the individual. It is based on that individuals tolorance for risk. It is up to that individuals financial goals. What YOU want is a set of static rules. The market is NOT static! As for my commentary? The results speak for themselves! I DO give specific STOP-LOSS & PROFIT target suggestions along with explainations. I did not do that here because that was NOT the intent of this thread. The intent of this thread was to demonstrate how you could use the "2 Bar Charlie" system to create a good system to trade. Thats ALL.
Finally it appears we've got a (virtually) complete system consisting of two parts: Part 1 authored by T-Rex; and Part 2 authored by JDRower. Apparently ET is a nice place really, traders could help each other to collaboratively and jointly produce some useful and profitable systems. Thank you all! Great work!
The only idiot IS YOU. YOU can't post winning trades. YOU are a JACKASS! YOU are just angry because I trade in realtime and you post ridiculous nonsense in "realtime". I posted a winning trade with yesterdays "LIVE DEMO". YOU posted BS! Until YOU start posting trades YOU are in no position to make STUPID comments about anybody here at ET. The REAL reason you did not show up at the challenge is because YOU CAN'T TRADE! Buy YOU can TALK BS about people who CAN trade. YOU are a JOKE! Have you not embarrassed yourself enough? WHAT A LOSER!!!! LOL I will not allow you to take up anymore of my time!
This "ignore list" is really something! What a terrific gadget. I'm just sorry that I have not used it sooner. This is GREAT. You can't even see what the IDIOTS on the list say. What a wonderful piece of technology! THANKS BARON!
If you wouldn't be so arrogant you could follow along and make some money by the way the only reason I posted in this thread because you offered system with complete entry rules which you violated on your first entry.