Ok, so I ended up sending 6 of you my lines last night for today. And if you watched them you saw exactly how they worked. Attached is a snapshot of my chart and how they worked today. Definitely one of the bigger number of losing trades. Which I guess is perfect for the haters and skeptics. But still grossed over 60 points. I walked at 14.
MM I know you probably will not believe me but 14 net out of 60 gross is dangerous ground. You should be trying to settle your trading into something like 60 gross less 14 = 46 net each day. regards f9
Care to share any details on how you use those lines? It doesn't appear that you simply reverse at each line.
You want him to divulge how the MAGIC LINES work? Then everyone could use them, and then no one would pay attention to him.
I'm not asking him to divulge how he determines the location of the lines.....I'm just curious how to he gets those P/L numbers on the chart (i.e. how he uses the lines for entries/exits). It doesn't seem to be as simple as reversing on each line. Of course, on range days like yesterday and today, trading off of such lines would appear to be easy and profitable. Now on a big trend day (which we're due for)......
In addition, where are those points (6.5 points here, 3.5 points there, etc) coming from? Without the specific entry/exit, they're hardly intuitive.
What I see here are lines for floor pivots & mid points of floor pivots(slightly modified). Note when trades are stopped out. Midpoint between lines. Note when trades are made, price needs to come from minimum of the midpoint bewteen lines. So if you have a line at 10 and a line at 8, if price moves from 11 to 9.25, don't short at 10. If it moves to 8.75, then short at 10.... Trades are claimed to be winners if the midpoint between lines are reached. What he doesn't tell you is how he takes his profits... sure looks a lot like retracementlevels.com in color and font