I like to experiment and evolve always looking for better results. Don't see a problem with that, besides people PM suggestions and tests of their own for me to try.
Perhaps that is precisely why I don't rely much in them. I could delete them all, as I have in the past, and do 90% as well. They are are basically filters and references to my signals, not the other way around. Price action is all I need.
Here is my chart from this morning. Looks like I made a few of the same trades. I do not find the sto very helpful and deleted it. I am using a long term macd as a reminder that a trend may be ending when I see a divergence, just take it more slowly then. Andec, thanks again for sharing My first attempt at posting a chart.
Yep, if you made a few of the same trades then it means you are in understanding of the system. If the stochs or any indicator are not enhancing your plays, by all means delete them like a virus, most of them are anyway np, happy to share Anek
Anek I have a couple of questions. Do you not trade certain hours of the day and do you use any special considerations on non-trending range days to stay out of trades? Thanks, Don
You never know if it's going to be a trending day or not. If I did, Carlos Slim and Bill Gates would be behind me and that' not a joke It's true that heavy trending days are easier to trade than one that has 5-6 reversals in a 4 hour period. However, I have yet to see a day with nothing but reversals and no trends. The worst is possibly a heavily congested day but then that wouldn't be a marathon of reversals, simply a heavily congested one; and you stay away from those of course. IMHO, the mornings are superior to the afternoons, and lunch can be a bit tricky. Remember, two higher lows, two higher highs constitute an uptrend channel. Two lower highs and two lower lows , constitute a downtrend channel. Don't force your trades, let those patterns form. Best I can think of right now. BTW, a choppy morning does not consitute a choppy afternoon and vice-versa. Hope it helps. Anek
07-30-07 Trades for today. 7 longs 5 winners 2 losers 1 short 1 loser (the short. ALMOST worked, but hit my stopped then my target, evil !) Total: 3 losers 5 winners Most of the winners were trailed for a splendid day. Noticed I took way less trades with the 14,3,3 stochs and eventhough my broker is not pleased, I am. Hope it helps. Anek
Well at this point it should be fairly easy to notice that I'm mostly doing trend following with the stochs in its most basic form. I do additional scalps and look for symmetric triangle formations, like one that formed today in the afternoon below the HOD that was simply a beauty, but I don't post that because it's a bit more advanced trading and not pertinent to this journal. I'm down to two indicators, stochs and heikin ashi bars and it looks like I'm going to keep it that way, simple is better. I'm waiting for a massively congested day to demonstrate how those can be tough to trade with this system but all in all I feel I have covered most areas in my charts. Anek