stopped at 1279.50 4.75 pt loss I will be incorporating 60 minute analysis more heavily in my future trades.
Excellent idea. It can reduce the numbers of trades without reducing the potential of profit. For me the trend was long from the opening. So all i could do was buy the bottoms.
yes --- yesterday on the decision to hold overnight , it was based strongly on the 60 minute chart coupled with longer term short bias. Today, I was trying the shorter term and it didn't work for me. There were long signals, but I was basing on my overall bearish bias on daily and weekly charts. Thanks for the input. Further note: I think if I am mostly trading short because of larger picture bearishness, then I should make certain the 60 minute is bearish also.
To me: monthly is long weekly is long daily is short but possible reverse to long within the next days
OK, don't laugh, but this is me. Here we go... Monthly - don't care weekly - don't care daily - don't care next 30 seconds - 5 minutes new highs/lows based on volume analyses/block trades over 31 lots and one more parameter does it for me most of the time. Commission of course becomes a problem, but I would rather be almost 100% certain what's happening right now, than hoping I am right in the direction of the market in the next 3,5,7,8,24,etc hours time. If my system proves to be good in the next 6 months time I'll consider reducing exchange/commission fees/rates.
This is a question for all reading this thread. You are sitting at your desk and looking for a winning set-up monitoring indicators, volume, trend, etc. Let's face it, not something you would call an easy task. The question is this: Is finding a losing set-up just as challenging as finding a winning one. Could you find a definite losing situation? Or perhaps if there are no winning set-ups it would make it just a guess? What do you think?
============= Page 20 Spike500; Excellant points, And when it sprinkles/rains ,the current gets better/helps more. Not so sure counter trenders like Buy1sell2 '' traders will be in the long run the losers''; even though dont put on near as many shorts in a bull/uptrend exactly for the reasons we mentioned. Plus when trading with long/ medium time frame trend; a less than excellant entry can still profit/excell with trend; shorting timing much more critical, especially leveraged., especilly when its counter trend.
The performance is quite good. Makes me wonder ... If you could get in some elementary wave behaviour aspects into the system, the results could be real neat. Thanks mishwar