This positions was closed for 2 pts. The market has maintained its bullishness, so I am entering at 133.75, looking for another 2 pts of profit to up side. I apoloogize I have not been able to focus more on the thread, as my personal trading has been taking up my time, as I become more accusted to the changes that I have integrated into my model I will be ab le to turn my focus back to the thread. Best Regards, Jimmy Jam
The market is currently sitting above its previous close (that's where support came in and below second resistance, and the indicators - internals and indices - are actually pretty good). I'm go to hold this position and either take the loss (scratch for the day) or get my other 2 pts. Have a nice weekend. Best Regards, Jimmy Jam
I made more money this week than my previous computer job so decided to take off the day and sleep in. So no trades for me. Hopefully, I can continue to do this. My goal with trading is not to get rich but to at least make enough per month that I don't need to find another real job or start a business. However, if I can continue to do well, maybe I will open a 2nd account to trade more aggressively.
Hi Jimmy. Congratulations for all your work in this post. I saw a few of your charts and strategys. In this year i begin know the pivot points strategy in a european markets,but i still i don´t dominate this methode. I´m feel best with RSI methode. I use the RSI trend line breakout for entry/exit the trade and differences respecte the price to acuumulate. What do you think about it? I SEE YOU.
Hi cataloniafree, how is your trading going? I'm not familiar with the technique you mentioned, so I really can't speak on it, if you would show us a few charts, maybe you could get some intelligent feedback. Intelligent feedback. Just as a heads-up, I'm going to continue to change the process that I use to make trading decisions, because, well, I like to experiement, AND, I want to succeed in my stated goal of figuring-out a public trading system that works. After looking over charts for 4 hours last thursday (slow day at work) I've noticed a consistent and ongoing pattern in price action, using the Previous Day's Open & Close as my barometers. Here's an aggregate 10 day chart of the Spooz to show you what I mean, I'll be going into in detail later on this weekend/week. Best Regards, Jimmy Jam
Hi Jimmy,this is a chart with a little example that rsi strategy. I used this strstegy about three or four months and in the moment is good for my trading. Best regards,see you later.
Hey cat, that's some pretty fancy charting there! If you're comfortable with that, I think you're going to like where I take this thread. *** The basic premise will be that Support / Pivots / Resistance represent price targets, not price reaction points, which is how I've been trading them in this thread. The Open will have meaning only in the context of the Previous Day's Open and the Previous Day's Close. If price action is above both values, traders are reacting to information in a bullish fashion, so will look to be Long. If price action is below both values, traders are reacting to information in a bearish fashion and you should look to be Short. If price action is in-between both values, that means it is consolidating, and you should not enter a position. The Support / Pivot / Resistance levels will represent areas where profits can be taken, and price may react and move back in the other direction, but a trade would still not be initiated until price action had broken out on the other side. That's the basic concept, it should always keep us on the right side of the market, give us small losses and look to captialize on the momentum of the market when it is moving strongly in one direction or the other. Best Regards, Jimmy Jam
OK Jimmy,now I understand best the Theory of the pivot´s. I understood that the pivot was a levels to entry the trade, I think all the strategy would to be contemplated, To have a way of producing(operating on) completely mechanical that was giving income and successful exits USING DIFFERENT STRATEGIES THAT WERE COMPLEMENTING EACH OTHER GIVING INCOME FREQÃENTES I BELIEVE THAT THIS WOULD BE THE MAJOR SUCCESS OF A BUENTRADER