how to manage false breakouts on NQ ES

Discussion in 'Index Futures' started by pawpaw, May 27, 2003.

  1. Nitro, don't take this the wrong way but of all the gurus on this board, am I right in thinking that you are the biggest chief of them all? The one with the biggest following and fan base? Over 3000 posts after all.

    I will humbly decline your invitation to prove myself. Why? firstly because I can't be arsed. Secondly because it would distract me from the task at hand - trading. I'm not here to say how great I am or to prove anything to anyone. If you want the "proof" try following what I do on paper for the next 3 months. If it doesn't work then so what - I was just another asshole full of shit. If it does, then you can PM me to say "thanks for the great ideas".

    As I've repeatedly said, although I trade the ES I prefer the DAX so unless your crew wants to get up in the middle of the night to watch me trade, it won't work.

    Despite the impression I'm probably the most egoless trader around. I've learned to "settle" for my $200 ES profit and not care when it goes onto make a $1000. I've learned to settle with break-even when a smaller target would have nothced a sure winner for $100. I just don't sweat it.

    If I were to enter your chat room - I would just be another schmuck looking for someone to tell me how cool I was. That ain't my style. My goal here was a) to lay out some ideas that maybe ONE or TWO voiceless people will take onboard and never thank me for (my way of giving back to society!). And b) to have some fun ridiculing the idiots that troll this board :)
     
    #171     Jun 6, 2003
  2. nitro

    nitro

    I understand where you are coming from, and coming into the chatroom is up to you of course - I am not asking for "proof." I thought you were trying to help others here with a method and I thought I would learn something by seeing it in RealTime. Paper trading is meaningless to real traders - I want to see a REAL TRADER TRADE IT IN REALTIME - what a treat!

    As to getting up in the middle of the night, I am up now if you are game? Come into the chatroom now, I am there waiting for you - just say hi.

    nitro
     
    #172     Jun 6, 2003
  3. Ditch

    Ditch

    You've been arsed in a big way, dude:p
     
    #173     Jun 6, 2003
  4. nitro

    nitro

    ES M3 just ticked above the BB. A bar with a lower high and lower low has been painted.

    Entry now is high of last bar, 994.00.

    Let's see what happens.

    nitro :cool:
     
    #174     Jun 6, 2003
  5. That may be true, but don't you wish it had been you doing it, honey darling? Why don't you PM Jack to see if he's free, or do you have to take a ticket and wait your turn :p
     
    #175     Jun 6, 2003
  6. nitro

    nitro

    Simtrader,

    Mr Subliminal and I are hanging in the Chatroom. Come and say hi!

    nitro
     
    #176     Jun 6, 2003
  7. For you maybe, but not for me! See page 24 on this thread - only trade the ES from 09:40 to 11:30 EST for one trade and maybe a second trade from 14:00 to 16:15.

    Right now, I'm tracking the first two hours of the DAX.

    BTW the notion that people can learn from a chat room is flawed compared to the concept of them figuring it out for themselves. You can't hand hold people to success. They have to find it for themselves. Watching my imperfections certainly won't help. Which means THEY have to select the right breakouts at the right time and applying rigorous money management. Not me do it for them. My method ain't complicated. Just about anyone willing can do it. But doing it well will take time cos I guarantee that people will still manage to screw it up by things like:

    - ignoring the rules about time of day (as you just did maybe by mistake?),
    - ignoring the "don't trade other signals inbetween"
    - they will not exercise patience and discipline and learn to focus on a mere two (or max) 4 hours a day.

    My method is not clever enough nor active anough for the guru lovers out there. But maybe one or two good folk have learned something useful. Who knows and do I care?! :eek:
     
    #177     Jun 6, 2003
  8. pretzel

    pretzel

    Simtrader,

    It seems that your middle line is roughly equivalent to a 20 EMA - for those without "adaptive MA" on their charting program.

    I think what you are doing is called "intermarket analysis"

    pretzel
     
    #178     Jun 6, 2003
  9. pretzel

    pretzel

    Here's the chart. BTW, what about gap ups or gap downs?

    pretzel
     
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    #179     Jun 6, 2003
  10. Ditch

    Ditch

    Dude, you don't trade. Just trying to be a smart-ass by boasting about the DAX.
     
    #180     Jun 6, 2003