Ok, so far one day of slight pain was felt with a -.50 out of the money or so. No big deal as past trades have shown similar moves. Currently at a neutral point(no signals)-.009231 with 1st std dev @ .612304 and 2nd std dev @ -.72036 open pos +.57 .0045% current SPY @ 128.41
great thread.. i trade the exact same way ... since 1998 this style has made me a living .. are these indicators your own ?? i would be happy to discuss my signals .. --mb
Great thread? Time will tell! Glad to hear you pull it out of the mkt. Hopefully i`ll be there one day. For now its part time trading/full time obsession. Yes, the indicator is my own monster. Did you create yours?
If you get stopped out of your position it seems your indicator will show even a more extreme level of greed or fear. WOuldn't you then want to enter the same position again? Or do you wait until it moves into the "neutral range" and then gives another signal? Thanks
No, I would wait for a fresh signal to go the other way. Neutral is just neutral..no actions to be taken. good trading to you
Still long SPY @ 127.84 from the 7th Stop 126.08 Tgt open For me the hardest part of trading is the waiting. Sitting on my hands and trying not to trade when the market does not warrant a decision. Overtrading is my demon. Taking losses for me has always been easy. In fact taking them too fast has been an issue. I went back over my last years trades and found that had my stops been wider and I risked the same $ amount per trade my returns would have been roughly double. That hurts. Ever evolving and expanding. Resting on your trading laurels is tantamount to rolling over dead. Sometimes you hear people talk about trading success as if it were crossing the finish line at a marathon. That makes me smile. I dont know anything except I know nothing.
Still long SPY @ 127.84 from the 7th Stop 126.08 Tgt open Indicator as of 3/14 close = .5743707 1st std dev = .614879 Close but no reverse signal. Although the action was great for longs yesterday it certainly wasn't translating into euphoria or GREED. Nice and steady stair steps. Calculated buying. This is good and bad for me. Good because without that flush of buying that would put me into SELL mode I get to hang out a little while LONGer and see if we creep higher. Bad because I have to sit on my hands for at least a few more hours. Normally I update my program every 30-45 minutes throughout the trading day looking for emerging patterns in the numbers. And from about midday on the 10th I was getting the confirmation that a nice trend was developing. That doesn't mean anything for the indicator I post here. But for a few quick daytrades it means i`ll most likely be on the right side. A pleasant side effect indeed. I may start throwing some more of those around when it is called for. Trade so small is doesn't matter. Keep risk constant no matter the time frame. Be aware of what the body is telling you because it knows before the mind. Poor trading is usually exciting.
sold SPY @ 130.64 +2.8 0.022% Short SPY @ 130.64 Stop @ 132.43 Tgt open Indicator @ .6283186 1std dev @ .623921 2 trades 2 winners 4.81 points gained +.0374%
great journal... thanks How are you determining your stop? price based or your proprietary indicator?