another good on e romik.........you should never ever think about money while in the trade.........have all systems very specific about exits and entries.....no thinking required for emini's intraday.........
The system I am developing with 12 minute chart had no less than 9 signals today. Something for everyone-- 3:18 AM Bar-- 1297.00 Short 7:54 AM Bar--1293.75 Long 9:18 AM Bar-- 1292.75 Long 10:06 AM Bar--1294.00--Short 10:30 AM Bar--1294.25--Long 11:30 AM Bar--1296.00 --Short 12:06 AM Bar--1296.75 --Short 1:18 PM Bar--1295.00 --Long 1:54 PM Bar--1296.00--Short and that signal is still working. All times EST and position would have been put on at end of the bar.
I agree with this--Count the money after trading is done. Great post Romik. Would you say in addition, that if someone is looking at the PnL screen that perhaps they are getting too excited by trading or maybe are too concerned and overleveraged?
Looks good B1S2, you gonna try it out on Tuesday here? What's the main criteria establishing entry, I see some signs there after a quick glance on the chart, I assume it is based on 1-2 points play, is it not?
I might not be too smart for sharing this but one of my indicators I use for comfirmations of my entries is a 20-bar SIMPLE MOVING AVERAGE and a 10-bar EXPONENTIAL MOVING AVERAGE. Since I combine with 4 other indicators I aint telling, I thought I would let you in on this one for guidance of possible additions to your own systems. Plot those two on your ES 1-minute or 5 minute charts and look at the cross-overs..... Also have it update intrabar.
It affects people in different ways, most of them I find to be negative, both when in profit and loss. Personally, I would say it distracted me most of the time and secondly most business's daily turnover/expenses are done at the EOD, imagine doing it every minute? Impossible, same here.
Yes I may very well- I thought I would take today and just look at it and see. The criteria is very simple--it would just have me reverse or add every time the RSI makes a peak or trough that is equal or higher OR equal or lower than the previous one. Divergences with price would increase probability in my mind as well. I think it could be 1 to 2 points, but would also catch larger moves as well. I need to study the stop placement a bit. This system, if used without divergences, would allow a person to trade without price, although I would say that if used with a line chart, the price itself would look roughly the same as the RSI line. I will of course use both price and RSI to look for divergence.
It would be very interesting to see it in action, though posting real-time short time frame trades is a pain in the obvious place