give me simple day trading method that works?

Discussion in 'Professional Trading' started by chipmunk, Mar 7, 2011.

  1. jinxu

    jinxu

    Look at the blotter attached below. I made that trade today with one contract. Now, I have no idea whether it was luck or if it was skill. I've tried to develop a method that can give a low risk/reward ratio consistently, but I have to accept that I failed in finding a way. The best it looks like I'm able to get is 1:2. I have no idea what the win rate is but I know the sitting and waiting for a signal is gonna lead to mistakes that will cost money in the long run.

    So, I have to say I failed at developing a system that can generate huge returns with low risks and high probability. The issue I'm having is mainly with timing so that my stops can be minimum. But that's like trying to shoot a 1" bulleyes 27 mile away.

    So, now I think the only way I can get those big return is to go back to the strategy that I was using back in july/aug 2010. It seems like that what I should do. I was thinking about it last night when I stopped at a red light and the odometer read 277.9 and at a second light it read 279.3. So, it seems like someone else wants the same thing. I don't even know if it's a good idea, but I might as well give it a try. You'll understand if you read my journal.
     
    #21     Mar 7, 2011
  2. Trade CL, when price crosses above 290 EMA , buy on Close of 5 min bar. Use a 20 point stop . Exit on market close or when stopped out.

    Now if 100 different people use this it won't work as many will bid the price up on the exact same signal making the signal worthless. See the logic here?
     
    #22     Mar 7, 2011
  3. What you're asking for isn't going to happen, but I have another idea if you want to make some money, which I assume is why you asked.

    Buy a used blackjack table from a dealer in Vegas--you can find a few on the web--and invite folks over to play. You will be the dealer (house). Have some booze and snacks available for free. Use Vegas rules for a 6 deck game.

    This is an edge no one, except the cops or law enforcement, can take away from you.
     
    #23     Mar 7, 2011
  4. TGpop

    TGpop

    buy john carter's mastering the trade, it's like 5 years old, maybe some of the setups in there still work
     
    #24     Mar 7, 2011
  5. What is a dail breakout? :confused:
     
    #25     Mar 7, 2011
  6. LEAPup

    LEAPup

    Agreed 100%!!!!
     
    #26     Mar 7, 2011
  7. Send me $5,000 dollars and I'll email it to you. PM me for my PayPal account.

    I also have a good deal on Superwoman's invisible jet if you're interested.
     
    #27     Mar 7, 2011
  8. deaddog

    deaddog

    Can you define "really works"???
     
    #28     Mar 7, 2011
  9. Those POS setups never worked. He cherrypicked charts for that book.
     
    #29     Mar 7, 2011
  10. You would think that with 4 exclamation points you'd be able to agree by more than a mere 100%.
     
    #30     Mar 7, 2011