Hey, spanish89. Your pattern showed up bigtime today on SPY/ES. A nice winner as well. I actually use trade-ideas' "running up/down" alerts to help find crazy overbought/sold stocks. If I only traded those and use big shares, I'd make nice coin everyday. Unfortunately, I can't stop trading other higher risk setups or sit on my hands and end up losing money more often than not.
Aloha mate and thanks.. Glad to hear you made money btw. It is a good stratergy, but it does require extreme patience, and you turning down about 96% of trades that you think 'could' result in profit, and only enter when the market is ridiculuously overdone. Ive done extremely good on my entries over the last month, cant remember the lastime i had an open loss that was over 6ticks tbh. And so made 119%+ per month on capital. But i still do relaly really not like holding trades for more tha n 80ticks profit, 100ticks max.
ALoha mates, thats ok.. I will start posting some of my live trades in here too i think to show the method in action, and to help anyone whos interest in it in getting used to seeing when the good entry levels are.
Why not post in the PNL Thread too: http://www.elitetrader.com/vb/showthread.php?s=&threadid=149597&perpage=6&pagenumber=152
spanish89 good thread actually, I trade similar, its just based on 1 pattern, its the dumbest pattern on the planet but its VERY reliable under certain cirucmstatances I have my girlfriend watch teh charts for me, also I have tradestation, To lessen the stress. But when I enter, 1 out of 2 trades. Its a guaranteed ATM for me.
Aloha mate, i could post in that thread, but i dont see any point in that thread at all tbh though. Since what purpose or value does it actually add to this website?? Anyone can edit a screensot in seconds to show whatever size profit they want 1stly. Its about 90% people in there who will post on a day they make a profit, but not on the day they go out ad lose money. And even the people who do post genuine profit screenshots, they dont actually post a detailed explantation about the method that they use daily to cosnsistently get entries and exits that make that profit return on capital, its simply a photo of a big number thats no actual use to anyone. lol Thats why i focus much more on explaining the method that i use daily that has and is consistenly making me profit, and then talk in terms of % profit mainly, and slo ticks sometimes, instead of just in £s. Since the £s a trader makes is irrelevant in hsowing their skill, as a bloke with 1million quid capital who makes £600 in a day has done a ridiculously crap job. Wheras a trader with a £90 starting capital who made £500 profit that day has outranked the 1st trader by a ratio higher than zimbabwe's current inflation rate!! LOL And since all trades have very varied sizes accounts £s is irrelvant as a guide to them on how well they are doing/could do, wheras % return is something EVERY trader out there can relate their dialy performance to, and use to try improving their results.
very correct, which is y i enoy reading ur thread as u show the agony of taking losses and the pyschology that goes behind a trader, rather than those only post when they make $$$ and slink away when they take a loss, only to finish the month FLAT or DOWN
Hilarious. A piker who purposely defaulted on unsecured credit is going to deem to teach others how to trade. You sir are a loser.