Chronicles of an Idiot

Breakout - I was wondering. Is the run up occurring now a result of short covering on Friday afternoon. I'm really out of my league with this question? Doesn't really matter because I got the signal, but it is curious.

 

I don't know dude. Could be...but I don't really get into all
that. I'd just look for Dbl bottoms and Dbl tops on the charts and
trade them.

 

10-4 Glad you reminded me. Enough of that type of stuff. What an idiot I am!

 

Signal occurred on the 3M chart and produced nicely.

Only an IDIOT would not take this nice signal. 6 Point move.

NOTE TO SELF: TRUST THE SIGNAL ON THE 3M CHART

 

Double Top. Vision Trade Double Top.

Let's see.


Profit Target Hit @15:57 +2 Points. I'm done

 

Shoot, just missed another one...hehe But, the important
thing is to get at least at 2-1 ratio on your trades, but I would
say a 3-1. But, I think you'll just find you're spinning your
wheels with a 1-1 ratio.

Anyway, best of luck!

 

In case anyone checked this out, there is another way to see
these charts. Click and hold on the screenshot untill a weird icon
pops up. Click on the icon and it will expand the chart so you can
see it well...

 

Thanks. Going to work on my money management. I was just looking back over the day. I saw most of the signals, but the one's I didn't take are the one's that produced.

Caught this last one though. Going to ride it out and I am done. Have enjoyed typing with you. I'll be back next week.

Also, I will try to get some more info posted on the other types of trades that I look for to get some feedback. Will also try to get a spreadsheet posted to track the trades for feedback.

Have a great weekend and Father's Day if it applies. Later.

 

I usually agree with inandlong, although I prefer stochastics divergences. Anyway, good luck.

 

Totals for Thursday and Friday

7 Total Trades
5 Winners
2 Losers

71% (Some lucky ones caused this)


Thursday +8
Friday -2
Total +6

System needs more fine tuning in the most important area of PL ratio

Trading hours may need to be altered by Head Idiot who lives on East Coast.

Began using 3 minute chart with same indicator set ups. This needs further evaluation as part of the system.

Yadddaaa Yadddaaa.


ALSO, I THINK TRADESTATION IS CONVERTING OVER TO GLOBEX DATA FEED THIS WEEKEND AND WILL NOT BE AVAILABLE. I MAY NOT BE ABLE TO POST ANY CHARTS. ANYWAY WHO CARES.