I didn't expect that you'd want to share all your hard earned secrets. But at least you're confirming that it's a divergence based system as well. In your experience, does the technique which you ARE sharing produce a sufficient return (for now) that it's worth using on it's own? I ask because some of your win/loss comments seem to include averages based on including the advanced method as well.
To me, it's a mistake to choose. If it is at all possible for one to make the mental shift, having both a trend-trading and range-trading system in the toolbox is a smart idea. The difficulty now, of course, is that ranges are so contracted. Therefore, even with a trend-trading system, the tactic of taking Npoint chunks during the day rather than "letting profits run" may be more profitable over the month, particularly since genuine trend days have not been common. Or, if one is trading multiple contracts, each contract can have a different job. In any case, it needn't be either/or, even though one may end up using one strategy exclusively for weeks.
Great journal A question about divergences. It seems (but I am not sure) that you are not necessarily waiting for a turn in the oscillator itself to enter. In my view the divergence is not completed until the oscillator has turned. Any opinion or precision?
Looks like a lot of stuff. For my purposes it looks like overkill. I think IB TWS is fine for me. I like not having extra stuff between me and the broker. Thanks anyway.
MarkB, I have no secrets. I just want to keep this journal clean (one method...here's the results...any questions about it?). If my account grows to 600k I plan to do trading fulltime. At that time I could have one journal for basic and another for advanced. I think it would be too confusing to mix the two in one journal. I think this method works fine by itself. After a couple of months of posts I think others will agree.
Thanks for the reply. I shoulda put a smiley after "secrets". It's very nice of you to reply individually to all the questions and comments. Your logic and writing skills are better on little sleep than most people's are when fully rested.
How do you know it's a trend day before it's over? I looked at Linda's stuff. I prefer my trading methods. I know on trend days I'll lose. If I have a loss early and it looks like a possible trend day, sometimes I don't take more trades that day. I guess I'm a one method kind of guy.
This is the so called Holly Grail trade. I've looked over the recent sp price history and it appears to me that no_pm is having more success with his method than the grail trade. Richard