If the 60 was more overbought, then the trade would have better odds and a little more latitude could be used. You really did well here--Ishmael
Stopped. DB at least I have balls to post trades. And you don't seem to comment on my journal that is up consistently up over the last few weeks, you only comment when someone loses
The trades are in the plan. But you have to be able to draw a straight line. And read. As for your journal, it wasn't begun, as was this thread, for the sole purpose of attacking my trading plan. As for whether your journal is up or not, who cares? You have no plan. Unless (a) you can provide tax returns that prove you're trading it with real money and (b) someone is willing to blindly follow your calls, again, who cares?
You want to see my tax return? LOL We just want to see if there is any merit to SLA. All you keep suggesting is follow the plan, well since you are the only one with a plan, then why not post some calls? All you do is post ranges and then hindsight charts. What are you afraid of? Wasting your time? You post a lot as it is.
As I've said, the calls are in the plan. If you don't know what to do with a range, I suggest you focus on that. It's pretty basic stuff. But then so is being able to distinguish between up and down. Without an array of indicators.
Now that the 60 has reached the overbought line of the rsi, one can begin looking a little further at the possibility of shorting on the 5. There is a short signal on the 15 and the 5 currently. Do we take it when the 60 min chart has just arrived at overbought? If we do, we keep the stop small since the 60 has not turned yet.
If he made consistent live calls, he would expose the main weakness of his system, incompleteness. I read his material, is full of subjective holes. When you have a guru unable to make live calls, that's your bullshit indicator in full blast lol
I've been trading for few years and I have learnt to accept that there are always ups and downs in trading, sometimes you hit a line of consecutive losses, well, shit happens. Markets and humans aren't meant to be perfect, it's learning to adjust and re-group and stay positive.