I'm curious as to just what that method is? Do you mean that if I get a signal from my own system around the time of your "trading times" that that is like an extra confirmation of my own signal? Is that the idea behind it? This is meant to "filter out unprofitable trades", as you put it?
Exactly, if you have already your favorite method which fits your personality, you know that there is about 30% losing or scratch trades. Which is not bad BTW . Problem is that no one knows when losing trade is coming which creates a stress . By using method which is giving you ONLY TIMES to take a trade all you have to do to see if your method is giving you strong signal and make a call . Or stay flat if your method is not giving signal . Go for a walk, play with a girlfriend or dog and come to the screen few minutes before next trading time is up. It is not for people who want to take 10 trades a day. this method produces more trading times then I am posting and I can pinpoint trades more accurately during actual trading day but there is no real need for that. It works just fine the way it is now. Walter
Walther!!!!! I just made 1 trade at 10:05 and take 3 points. That incredible!!! Could you tell more about your stops, profit targets and etc. Thanks alot!!!
Hey! I had a long signal at 10:05. Everything was looking sweat, breaking out, Walt's confirmation, I think I could even hear birds chirping in the background. What the hell happened, Walt?!?
If you make money all day, you are not going to worry about sitting in your living room and sipping tea while trading... If you do not make money, after 5 minutes you will have headaches...
Glad you doing good Vlad ! Alfonso , If your method gave you buy signal at 10:10est it is not a good method. You MUST change it. For people who do not have a their own method yet I suggested they use MACD divergence and 21MA for direction. Go to your 1min charts and look at what time price went below 21MA. That was your signal at 10:11est Walter
Relax Walt, I was only kidding. Actually, my system gave me buy at 10:00am, not 10:10. I didn't actually take it though, was looking for a move beyond that before going in, which never materialized. If it's all the same to you though, I'd prefer to keep doing it my, rather than changing it. (But does your method really do such an unfallible job of "filtering out unprofitable trades that one "MUST" feel compelled to change his system if he takes a loss with it during your "trading times"?)