Believe me the majority of you guys are better traders than me, but because I trade in the middle of the night here in Australia I've been forced to simplify the process, I cant concerntrate on 10 different things at 4 oclock in the morning, I need it fed to me like a 5 year old... that simplicity produces an excellent methodology, i think we all make this business too complicated, the more we know the less we know
I've closed IB down for the day BB, just look at the chart on the previous page and ask yourself where you would have got in, there are only 2 types of trades, MACD breaking through the zero line... or MACD crossing it's MA having already broken the zero line, look at those white vertical lines for entry and target 2 points or 10 mins and out... it was a perfect day even though I managed to feck a couple up by trying to anticipate the Zero Line
If your having trouble executing, you might consider using TradeStation and learning to write a simple program to autotrade your methodology. I believe you could even program it to exit the trade automatically after 10 min if your target isn't hit.
Using such a simple system, what is the purpose of Kwikpop's expert advisor? I've checked out Kwikpop, but never heard of expert advisor. Same question for Marlin's chatroom. Is it just to help with the boredom? I mean none of this keeps you from taking your own signals, right?
Yeah it's pretty lonely here in the middle of the night, you can feel disconnected from the excitement of the markets. Kwikpop I got used to, it doesn't hurt, the expert advisor turns the candles blue when there is a lot of momentum to the upside and red for downside, I'm just used to the interface now, but you are right, doesn't affect my method
This is a refreshing thread. Thank you for sharing. I am curious if you trade for a living or trade all night and then work another job during the day (rough life). How many trades do you think you average in a typical week and how many days of the week are winners/losers? Thanks, Have a good day/night
Excellent 28 I was just sitting down to work on a MACD trend/Bias system using a larger time frame and decided to do a quick search. Your definitions and method give me a great starting point. Much appreciated. Thanks for sharing.
Cheers to a simple system and courteous discussion. Like you said, chop kills trend systems. I would think this could be tough using YM or ES. Unless you tighten up your profit amounts. But then you're just scalping right? (Not that anything's wrong with that.) Would be interested to see how this system would do combined with a pivot system. Pivot the YM/ES and MACD/MA the ER. Might compliment each other.
trader28, I understand your "night trading" feelings well, because I live in Russia (GMT6+ TZ) and my trading session begins 20:30 and ends 03:15. The downside of it is being sleepy in the case if woke up early in the morning and feeling quite lonely (no sense that there is a peak of activity in the markets you trade), but the upside is that night allows to totally concentrate on trading and no one will disturb you because all your family is already sleeping.