Here is my "HOLY GRAIL", as a daytrader of the e-mini ES. Do not be a master of everything, just be a master of one. I use a 5 min chart of the ES. On that chart is a 9 or 10 period (bar) moving average combined with a 18 or 20 period moving average. Yep, i trade the faster crossing the slower. Along with the crossses i plot the days pivot points R1-R2-R3, the pivot point, S1-S2-S3. Here's what you do, take the crosses and use the pivot lines as profit objectives and stop points. Really neat it is. Here's what else is needed: "Honor thy self". Take your experience as a discretionary trader to know your own intuition when a setup occurs, pull the trigger as the signals from the "PLAN" (stated above as the moving average crosses and the lines from the days pivot points). The experience from the past will tell you when the mkt is going sideways and crosses are to be avoided, but if the ranges are decent to your liking then you trade the distance between the lines. In other words, your day is "PRE_PLANNED" for you before you even begin. Now sit back and play the music of the mkt and have some fun. IT REALLY IS THAT EASY. YES, it will not happen overnight, but it will come. PS, anyone know a website to "connect" trading partners together? I am thinking of teaching a partner to trade. 50/50 on all expenses and profits, should be fun. Thanks
Collective two is one place that you can play some systems. And if you want two incomes you can do a day job and also make money trading the C2 systems using the auto trading feature. If you do C2 start small, like 100 shares per position, and scale up if you're getting consistent winners. www.collective2.com You're talking about making money, right? Why not trade someone elses system if it makes money.
Never used that exact setup, but have used something simlar that Larry Conors described, called "News Reversals". Basically look for gap up/new high on news and then reversal. If you need the details, PM and I will forward. Its along the lines "if it isn't going up on good news it's going down".
Why don't you just create the backtesting infrastructure necessary to explore various types of systems. You could put a snazzy web front end on it and charge people a monthly fee to test their systems and provide alerts of some kind. The fees would cover your costs and you would be in a unique position to see what systems do and do-not work. This would give you access to the details of successful systems that traders would probably not otherwise wish to make public. Maybe even call the web site "Trading Ideas", "Traders Ideas", "Trade Ideology" or something like that. (cheTONGUEek, been wondering about this for a while...)