I haven't been on ET long but I've been on many other forums for years. ET is not that bad but there are some people here that have attitude and comments not appropriate towards someone like NPP that has contributed quite a bit on his journals. NPP, I hope you will come back on to continue as we all can improve the method and benefit from it. People are negative for many reasons and it ain't the first time, ain't gonna be the last.... I hope you can ignore/filter them and take in the useful contributions from some of the forum members. Thanks for your effort of sharing.
Hi no_pm_please, Trading is a frustrating stuff...I really know it, you should see the positive results you got here in very short time. I would go even further to claim this thread a complete success in becoming a better trader. Sadly it`s mostly essential to experience the painful disappointments by yourselves to get a learningcurve, but if I had some more infos earlier, may be I would have skipped some of the pain... I think you got very valueable informations. 1.) You know this method is not working for it`s own, like any other I ever heard of (may be one exception, but that`s just opinion...), this may save you a lot of money. 2.)Fading is probably a difficult stuff..esp. with one contract only. 3.) I think i could proofed that the best time to use such a method is the mid-late morning reversal, there is often a Low/high around first 60-90 min. good for a scalp at least. You got some hints that there are some conditions to use it with succes before 1015 too. Next I already found some pattern/rules for an easy version in the morning with acceptable profitfactor. And you now probably know that time of day makes a difference, so you learned much or not? 4.) I hope i could make clear that you will get cooked if using a method fitting only a very special marketenvironment, as all the million traders in the late 90`s buying every stock (esp. dot coms) without stops and plan and getting rich...temporarily. What does not mean not to use methods just working in one rare single marketenvironment, but you have to know what you are doing and why this is working just now and when you have to stop trading it. You can have a lot of systems, and you can say, well we have marketenvironment xyz, well lets use this system abc now untill conditions changing, but needs a lot of screentime and experience. 5.)look back to 3.) it`s possible to use one single method with those hard and fast rules -)) to make money, but you have to be selectiv, waiting for the right conditions to pull the trigger, means you have to be patient and wait boring 3-8 days for a signal. That`s what you will hear from serious persons, trading is a boring game, if you want get entertained look for something different in your life. Next i have to excuse me, cause after lot of posts there was also some egostuff in the game, this "hey look how great I am thing" what surprised me too, this forumstuff leads to some strange dynamics i had to found out... Nonetheless you have to take more care in trading, and better take much more time to work on your stuff, I never heard of anybody trading profitabel untill 4-8 years in the markets. Uuuh you read/heard of Rickey Cheng, the master of the systems, he lost 20 consecutive years, now his systems are topranking and he gives seminars for 180000,-$ person/day, just for fun... greetings, Michael
I haven't been using it very long so it'll require some refinement over the next few months. You got much refinements, may be little bit more as thought and in rockettime...
You guys have got religion! Mechtrader41 is trying to be helpful, so whatever you do...don't listen to him. bt
no pm please: Thanks for all you've done sir. I especially relate from your earlier divergence thread as I, too, was a prof musician for 30 years and found trading much easier on my nerves than the stage! (Bad PA). In any case, no pm, did you ever reach any finality on your divergence research? I just discovered this CCI thread while intensely researching divergence using CCI. I love your current approach as it includes multi faceted time frames and this really seems the correct way to go. I also like divergence using CCI although it doesn't really seem to nail many points (or trades) on real choppy days (as, for example, March 20, March 27 or March 13 on the ES). If you have any thoughts you can share on those particular days and how you would have traded them, I would be most greatful. PM if you care, or if not, this thread is fine. Chinatrader
Anyone trading this system or a variation of this system. Would love to know if this is still working or not.
Bump. Good thread for those wanting to train fading. I think most in this journal got hung-up trying to overlay a different time frame on the same symbol, and gave up. Anyone figure it out yet?