The only person who is delusional is the idiot who thinks I actually promised him anything LOL Whoa just look at all the envious vitriol coming out of your mouth. Have fun deluding yourself further. You know you cant make any money, so your jealousy is just eating you up from the inside out. Could you make it any more obvious??!?! LMAO. It kills you that I made over 7G's today and there is a lot more where that came from! So sorry your account is going straight down with all those marvelous SMA's out there. Please continue using that worthless junk while I laugh all the way to the bank.
Well...the good news is this!!! I for one am very glad that I spent the time I did on "Simple Profitable Method". Thanks to Trader28 and all you guy's I've got it!!! I can make a living for the rest of my life!!! Maybe not millions...but enough to keep the wolves away... So here is a "Captain Morgan Rum" toast and cheers to everyone! Especially Trader28 for putting up with us for all these months. And for all you nubees out there read through this whole post a couple of time's, use your imagination and you'll get it also... Secure your future with this and at least you won't go broke!!! snarlyjack
have you read 40yotrader journal, start with the second to last post at bottom page http://www.elitetrader.com/vb/showthread.php?threadid=10237&perpage=6&pagenumber=20
Steve, hey maybe you can ignore Dragonbreath and maybe he'll go away. Say Jack, I sure did log your trades for the Tuesday the 16th, are you on the right day? Market traded between 12600 and 12635 all day. Hey Snarly, I looked closely at your charts and it seems like the stoc 14,1,3 from Jack is giving the best signals. I made a simple system using this indicator. I papertraded on IB's platform today and made some money with a very short term system. You and maybe BB might want to look at this. I used the stoch under the chart and the sma3+2 on the 2 min YM chart. Basically when the fast stoch line pegs the 100 or 0 I'm taking profit and looking for a swing. It seems best when the slow stoch line is over 80 or under 20 also. Often you'll get a double hit by the fast moving stoch line on 100 or 0 then look for anykind of reversal bar or P crossing the sma for a signal. Buy 10 points or at least trail your stop to lock in 10 points. Everytime I didn't take 10 points when offered I regretted it. I started with a 5 pt stoploss then move it to break even very quickly. Take a look at today's chart at the good moves: short at 9:00 am 9:35 long 10:20 short 11:00 short 11:30 long 2:00 long My major problem is not taking realistic profits when they are offered so I'm doing the opposite now I'm going to see how many plus 10 pt trades I can make in a day. I'm going to try setting stop limits at 10 pts tomorrow just to make sure I take the 10. If I get time later I'll post a chart of a few of these examples.
beeflover, why don't you do what I think Jack suggests: Create a log, it could be in Excel. Create the following columns: Trade price, postion, reason, outcome Trade price = the price you got filled. Position = short or long Reason = why you took the trade Outcome = points lost or won --- Next, use printscreen button at end of day to post a picture in this thread of your chart. If possible for you add arrows to where you to took each trade, and where you got out. ---- Finally, have someone like Jack or trader28 review the chart to give you feedback on what you are doing right or wrong. I would do this myself, but I am currently profitably trading stocks and forex using position real money trades and don't have the time to also trade futures.
Beeflover, I totality agree with you... But just a few comments. 1). I have found that you can get 7 points at least every hour trading the (YM) with very little risk. (7 x 5 = $35.00 an hour. or 35 x 6 hrs a day = 210.00 a day) very little risk. 2). I would like to be able to simplify the system even more. Get down to 1 indicator. The question is: which one and at what setting's. A). SMA3 +2 shift. Very nice indicator. (this one stays) B). Macd 5-13-6. Very nice indicator. (this one stays) C). Stoch 14-1-3. Very nice indicator. (not sure which is best ?) D). Stoch 5-2-3. Very nice indicator. (not sure which is best ?) snarlyjack
Snarly, Thanks for your hard work and postings here. I'm somewhat confused at your latest "fusion" of what I think are two rather different methods here. T28, unless I'm way off here, uses price pullback to the SMA3+2 line as a primary signal to enter a trade. Jack Hershey on the other hand has suggested tracking the Stoch (5,2,3) and to consider entering a trade when it crosses the 50 level. Are you suggesting that the trades to take are ones where the price is bouncing off the SMA3+2 AND the Stoch (5,2,3) is simultaneously crossing its 50? If so that doesn't seem to occur very often at all (I'm trading 2 minute ER2). If you add to this the condition of the MACD and the intertwining (or not) of the Stoch(14,1,3) and this "Simple" method begins to get a bit complicated.
Hawthtrader, I know!!! That's kinda where we are now. Trying to simplify our little (SPM) to get all our indicators in synch. (buy and sell) Then determine what indicators we want to keep and determine which indicator or indicators to get rid of. The problem is: Right now...I don't know the correct answer...wish I did... I have great hopes that someone will jump in here and give us the correct answer, to which indicator to get rid of!!! snarlyjack