I don't want to tell my fly fishing buddys this though because we stand wait deep in a stream casting to those fishes. Luckily those fishes don't nibble through neoprene.
Hi Prof, when/if you have time, would you please post the trading areas for Mon and today in the ES? Thanks very much.
Are you actually trading the "method"? . . anyway just kidin . . . regardless of method, your trades made you money . . . kudos . . . A lot of your trades are imperfect (ie not even "near perfect"), are you combining some other method? Also your entries seem to be perfect . . . I think I have the method down, but sometimes I run into the [perfect] entry issue, could you shed some light? . . . don't get me wrong . . . I'm moderately successful at this point in time (6 weeks only) and hoping that more screen time will get me more comfortable . . . but would appreciate if you have some tips . . .
Those are not my trades. I simply marked areas that I thought were good trade entry 'areas'. I was fortunate to only have the morning free, which resulted in a bunch of choppy crap. For those of us that are not trading full time, following Prof's method to the T is not exactly practical. I simply do not have the patience or ability to watch the charts all day and wait for a setup that may or may not come. I tried to express that the only perfect trade was the 1pm one, and Im not even sure that followed ALL his rules. As far as shedding light, I dont want to take the thread off topic because as you pointed out, I clearly have assembled my own 'method' for trading, based on Prof's stuff here and some other tidbits I have picked up along the way. I just thought I would post a chart since there has been little to no activity around here lately...
Thank You Jander, I appreciate your honesty. Prof does have some really good stuff but as he would say, most of us noobs are so trigger hungry, that we are not willing to be patient enough . . . I wish Prof had some rules on how to be patient . . .
Hello - my name is mep, and I'm an action junkie Prof has made repeated statements to the importance of patience which I'm sure we all understand. I've heard through the grapevine that Bill has stated that his job is to be profitable, not to necessarily take trades because he is a trader. If one ponders that idea, it makes perfect sense. As an apprentice using the methods, I still feel the need to somehow speed up my practice time. To that end, I've taken the following approach, which I hope Prof will comment on at some point. I first switched to using the 49-343-2401 chart set, but found that too fast. Lately I have been using 125-625-3125 (powers of 5) which feels about right. Let me make it clear that I adhere to the rules, and only take the perfect setups as they evolve. As another filter, I insist that both the erg and histo on the 'strength' chart are confirming the direction of the anticipated entry. I think it goes w/o saying that this is basically a scalping approach, so the available profits are rather constrained when using the exit rules . But the main idea is to have more opportunities per day to train myself in recognizing the signals. Hopefully I'm not doing more harm than good. Once my confidence matures, I do envision swinging the slower fractals.