BEST YM 1 Minute (okay, up to 3 minute) Chart Daytrading System: 9,18 SMA crossover? 8,21 EMA crossover? Volume Climax Reversals? Support, Resistance, Pivot Trades? 14,3,3 Stoch? 14 RSI? 2 RSI? 12,26,9 MACD Short Term Trend liine breaks, reversals ...others not mentioned? ...please share your insight...thanks on behalf of the many who will be helped...
I am sure there are mamy traders out there that use each of those so how can anyone say which is the best. Your questions highlight an underlying issue where you are looking for public confirmation of something to make you feel better about your choices or you are just looking for someone to state a holy grail for you so you can get to trading profitably right away. There is no best indicator or best time fram or best system or best index to trade. Start looking for what is the best for you based on your research and analysis and yuo might learn something. This is not something that can be handed to you in an easy answer. Work for it so that you truly learn it and then you can find which works best. The best traders I have met are good because they have studied and researched for themselves and did look for the "perfect" thing, only the thing that works perfectly for them. The questions you ask reflect a main problem with most beginner traders who look for the grail or for someone to lay out the best indicators or exact tricks instead of learning the material.
Alex asked this question to Carter and he said 'do the gap trade every day.. thats it'. I can't stick with the GAP trades for some reason. I think it boils down to what your most comfortable with. Some people do great with stochastics and bollinger and others swear by the keltner channels. I had a problem trying everything at all times when I was a newbie and confused myself out of most trades. Cajun / Co-Admin / PureTick.com
yea the GAP play sounds great but...what about yesterday or that one day last week...THERE WAS NO GAP DOWN...it was a huge run away GAP and you would have got SPANKED BIG TIME if you went short...one of the hardest things to identify is a BREAKAWAY GAP...but...what are some of the strategies you use?...can you share anything or must I pay for that insight at your site?
judging from your questions in various threads, you are getting desperate in searching for a "system" ? (or should I say grail?)
That's what stops are for. You get stopped out. You come back, do it again tomorrow. In your trading, do you not want to take any losses at all?
1 min? Use 15 min bar and watch the highs and the lows of the last two bars as stop (5 tick above or below) Also you should add the hourly chart As trading technique my advice is to trade pivot points and OHLC Buy supports and sell resistances Add 1 exp mav 89 to indentify the trend and standard deviation (ma envelopes) Do not use Oscillators or Indicators Only price. Price is king I forgot....candlesticks of course WATCH CAREFULLY WHAT HAPPEN EVERY 15 MIN