Hello, I had the time to just replay to one post, it takes time for me to write in english, I will replay to the other post in the evening, anyway I will keep on reading every comments, suggestion, critics. the current trade is still there, I was gaining $163.43 I'm not taking profit even if I was tempted when the the us futures NQ-YM touched a support (chart attached), I moved the stop to break even, maybe this is a mistake, I actually made a lot of efforts to learn not taking profits too soon, now I have the opposite problem, even if I aim to big winners, I should have profit targets, hope this will come. bye for now
just back, current trade on FESX is now at +177.62, I don't take profit, stop still at breakeven, the temptation to take profit is high considering that I'm down around -110 commissions for the day, and with this trade I wuold be in positive territory, there is also a support on the 60 min time frame, but there is room on the higher time frame, so I'm not taking profit.
Hi ammo, nice chart very similar to main, this is what my strategy tries to do, combined support or resistance in more than one market, the problem is where or when to take profit, and the stop size, tight and re-enter or bigger for more room.. I know about market profile, I never studied it, I will consider it anyway, but I'm afraid to add too much stuff, I'm going to post all the detail about my indicators so you all could give me a suggestion. thanks!
I manually draw trendlines â 50 and 200 SMA and FIBS replacement lines on several correlated markets on MONTHLY â WEEKLY â DAILY charts. Markets are: US markets, tradestation symbols: NQ-ES-YM-COMPX-NDX.X-INDU-INX-RUT EU markets, tradestation symbol: FDAX-DE:$DAX-FESX I try not to have the same trendlines in the various time frames, but it could happen. to check all this chart at the same time I have a RADARSCREEN that show me where is the next S/R and the distance on the various chart, a kind of resume. to have a better view I also have the intersection points of the current candle displayed in horizontal a 5min time frame, to better understand: in a NQ 5 min I have the horizontal lines derived from NQ M-W-D interception point of the current candle. this are the info I have, and also I use a 1min chart with floor trader pivot and yestreday high-low-close of NQ-ES-YM, this is something I used a lot in the past to lose money, maybe I could delete this, too much info. it is a lot of work since I have to manually draw all this stuff, and actually I should update every day the daily chart. it seams I can't add more then one picture, I will post them in the next posts...
reached +0.54% from my entry point, +236, I don't take profit, yes I know that with WS open in less then 1 hour, the US market could test yesterday's high and the european could follow to todays resistance where I entered short... if I was in the wrong side, I would maybe added to a loser, so maybe I should add to this winner, but let's keep it simple and the stop where it is now...