TIMES Method

Discussion in 'Trading' started by VisionTrader, Jun 11, 2003.

  1. I used to trade Div/Conv setups many years ago using the
    stochastic indicator. I learned from one on one tutoring from
    Mr. George Lane, whom many consider to be the authority on

    Over time, I've come to realize that the indicator you use isn't
    that important.

    What is important, is keeping your losses small, and try to
    make about 3 times the amount you're risking. So, if you're
    risking 4 ticks, try to capture 12 ticks.

    I don't trade this method anymore, because many times you'll
    find yourself trading against the trend, which I don't feel
    comfortable doing.

    Also, one last warning... seeing setups in hindsight, and seeing
    them in real time are two totally different worlds. In other words,
    it's a very subjective method.

    If you're just starting out, you'll probably be better off just fading
    breakouts, which is what you'll soon realize you're basically doing
    anyway, just minus an oscillator.

    Hope this helps and good luck!
    #21     Jun 11, 2003
  2. I hate to ask this, but could you give me an explanation of what is meant by "Fade a breakout". I have never really understood this term.:confused:
    #22     Jun 11, 2003
  3. Ram - What were SL and TP levels for the 3M charts? This is interesting, I am taking a look at it.
    #23     Jun 11, 2003

  4. No problem...I remember when I didn't know what a future was!:D

    These are breakouts of the 30 period price channel. As you can
    see, if you had gone short instead of long, you might have done very well on these 4 trades.

    Fading a breakout just basically means doing the opposite
    of what you're supposed to do.:D
    #24     Jun 11, 2003
  5. Thanks alot Breakout. These would have been "short" signals for me too, the difference is that I am more hesitant to take this position on a strong uptrend day. Is this the type of system you trade regularly? Judging from your handle that is.

    What is the time frame on your chart for the "30 periods"?

    Again, thanks for taking the time.
    #25     Jun 12, 2003
  6. ram


    I tried SL and TP levels of -3 and +3, and -4 and +4. Don't recall now which was more effective. Suggest you do some testing of your own.

    ---------------------------------------------------------------------------------Ram - What were SL and TP levels for the 3M charts? This is interesting, I am taking a look at it.
    #26     Jun 12, 2003
    #27     Jun 12, 2003
  8. Thanks for a chart. Where do you place buy(sell) orders ?
    I am thinking, high(low)of the penetration bar ?
    Thanks again,
    #28     Jun 12, 2003
  9. If it was me, I'd just go short as soon as the price bar breaks
    the channel, and have a 4 or 5 tick mental stop in. If the trade
    went my way 3 or 4 ticks, I'd lower my stop to breakeven, then
    try to capture 12 to 15 ticks.
    #29     Jun 12, 2003
  10. Of course, a lot depends on the market. For example, so far
    today, going with the flow would been the better choice.
    #30     Jun 12, 2003