Thank you Don, I have enough stress in my life I don't need to pull up a chart just for more stress. For those of you that keep looking for a pullback or all out reversal it could happen. BUT remember every big move begins with a breakout of some sort. Will we ge a breakout of the record high or a reversal. It doesn't matter just play the chart in front of you. The worst thing you can do is try to out guess the market. Lets have some fun and make some money tomorrow. Gary
Hello 4re, Congrats on your business deal. I will be sad to see you go, but am happy you're achieving your goals. Good job amigo. I downloaded your videos last night and thought you did a great job. I decided to revisit trading ES with the idea of going for 1.25 points. It left me with the question of the stop level with this target. Would you think reducing to 1.25 point stops is the way to go or would you still think the 2 point method is more likely to improve profitability, in spite of the risk / reward? Rick
Rick, Long time man where you been? Thank you, the stuff I showed on those videos you can take to any market and make money with it. As far as your stops, go ahead and make them 1.25 as well as your target. Your hit rate should be high enough to handle that. As your confidence grows then start either going with bigger positions or bigger targets. Just stay focused with it. I will be around a little longer and even after I am gone I will still be checking in with ET. Gary
Here are my numbers for tomorrow. Long 1350.75 - 1370??? (I hope this one hits) Short 1342.50 - 1337.50 (but I will take this one to) Gary
Been playin over in the NQ sandbox. Experimenting with different strategies, I'm improving, but closer to break even than consistently profitable. Even with the S/R method, it seemed I was the one getting scalped. You're video helped me to understand your thought process better. I think it would still be important to look for 2 point moves, even if only going after 1.25. Gives more wiggle room I think. So I'll continue to preserve my bullets by trading sim until I show myself the kind of results I need to survive. You've been a great help and I can't say enough how I appreciate it. Rick
Yes, keep looking for at least 2 point trades and just scalp for 1.25 on them. You probably picked the wrong time to try my method on other markets. Up until recently the market has been very choppy. I went a week without ever getting in a trade. But the way the market was I would have been chopped up if I would have gotten in a trade so it is OK with me. Better to be on the sidelines than getting chopped up. Good luck with your trading as usual feel free to ask questions. Gary
Using a 15 minute chart my numbers are close to the ones Gary has posted, but not exactly. I try to do mine first and then check against the master. Getting closer! This whole S/R deal looks to be a really good addition to confirm my exisiting trade set ups. I don't get to trade everyday, or even all day on the days I can trade, so I need as much confirming data as I can get, without becoming to bogged down in technicals. S/R gives me a fourth confirming indicator. That's enough!
Howdy CO, What else do you use for your set ups. Maybe that would help me to help you if you even need help. I did a couple of modifications to your chart that might help. But if you are making money disregard what I say and keep doing what you are doing. I don't get to trade everyday either, that is another reason that we need to cherry pick the best possible trades of the day when we are available to trade. Make every minute count. Good Trading to you, Gary