Played GU short 26 0.05% held perfecly, up $103 today nice!!! Over thinking is stopping, sadly work to get to
New method is scoring perfectly, cleaner with BB removed, 3 different speed and range envelopes is looking like the solution all a long, been close to this for literally years, just not quite found the right setup before. Master it, grow account, quit business as always i have a shot end of year maybe end of the summer, maybe I will say screw it before.
Still trading barely and 1/2 sized, 14 trades on the month so far +11% and no losers yet ( DOOM coming every time I say that I dig in and LOSE BIG!! LOL ) Method, suites me perfectly, playing chop range with direction, with fall back entry positions if market goes well markety!! Stay 1/2 for another week, try to spend more time trading, progress to full size, grow account give up work!!
Plan stick to 1/2 sized till 3K+ then Full size it $10 per pt, tad more sensible!! 5K+ go upto $15 then 10K+ for $20, scale back a tad. Problem is a loser, would likely knock out 50% of my profit, due to small profits. Problem is, if I go for bigger profits, then I expose myself to more losers typically. Need to find a 1/2 way ground I guess. On 19 trades without a loser +$109 today, total time in markets = 1Min+ 1min + 2mins + 5 + 2 + 7 = 18mins in trade time, likely 35mins watching, pretty nice money
"total time in markets = 1Min+ 1min + 2mins + 5 + 2 + 7 = 18mins in trade time" One of my favourite quotes from Reminiscences of a Stock Operator: "It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon." https://en.wikipedia.org/wiki/Reminiscences_of_a_Stock_Operator
Every time, confidence grows and i try to hold for more I end up taking big losses. I think i need to stick to playing the range as the range holds 80% of the time but... If the range breaks while I'm still in, then i should use the 6sma envelope to ride the breakout. Also enter big with 6 after a breakout needs work, better pts profit. Very few breakouts, can only think of 1 yesterday while watching, hence no losers. Thats got to be the way to play it, i think i try to hold every trade which =s doom.
Dont see any benefit in different TFs just gets confusing, my different speed envelopes are the same thing kinda without losing important detail. No way to play chop tight range either on anything slower than M1. +12% with 2 hours trading time this month, is pretty good, just greedy want more, increase time trading and stick to the same plan until its broken atleast. Too much spare time weekends to over think and lose the plot lol
Not this weekend... you have the Royal Wedding. Why is this even on my TV? What is up with you Brits anyway? I guess its ok... as long as they don't pre-empt Gilligan's Island reruns.