BS, I am shocked that no one has recommended to you Jack Hershey's Seamless Continuous Trading (SCT), amply documented here. It is primarily a five minute intraday ES system, but it gets as fast as one minute for entries, and it is adaptable to other instruments. Search on posts by Grob109 and his earlier handle, Jack Hershey. Jack is his real name, he is verifiably who he says he is, he wants nothing from you, and he had several successful adherents here. I promise you that you will learn a lot about yourself and about trading by studying him and trading his method. My post may be followed by hoots of derision from Jack's detractors, but pay them no mind. They are just jealous.
Then the master said to him slowly, This is a real jade! Perhaps we the students of our jade master on ET would have to finally ask when we start learning about jade!
Dude, instead of reading through a bunch of posts, my preference is just to channel Jack for maximum efficiency.
The Jade i hold in my hand is not real Jade - well i finally realised it will take allot of discipline to become good at trading
Aahahahahahahaahah. Aahahahahahaahahahh That's the funniest thing I have seen today Oh man too funny. nitro
Because of the potential drawdown, that's why. I like the 5 minute, myself. In the ER2 which I trade a 60 minute candle is huge. Too big of stop for me at this point.
Originally posted by Grob 08-13-06 06:18 AM He uses MACD and RSI I had no difficulty getting the charts he uses to apply the momentum indicator (MACD) and the oscillator RSI set at 14) to the two time periods he uses: 15 minute and 4 hours. I Had no difficulty undertanding that he keys off the London open. And he follows a multifractal procedure (15min and 4hours) that locates price and its movement relative to a pivot, support/resistance, his indicators and waiting an hour for confirmation of the price movement as he sees it. It is clear to me he worked with some other locals that are trading the same market at the same times using the same technique which they handed off to him. So he uses a target after entry of a fixed amount (20 pips) and he uses a stop (no greater than 25 pips) that varies according to a consideration of the market condition as measured continually by the histogram of the MACD (a momentum indicator he uses). He worked into the target by starting at 5 then 10 then 15 pips and finally coming to a final limit at 20, though he knows more is there on occassion. He then went through the adding of amounts of contracts per trade after settling on the target of 20 pips. certainly he is doing a lot of contracts per cycle nowadays and he is an amateur trader who trades as a hobby. He is also able, when there is news, to be sensitive to making the profits the market is offering. He has a win ratio of 8 out of 10 and others have calculated the results under worst conditions. The long term average is a little over 10 pips. Then there is the other BS that was contributed on the thread by others than Africa. Champion, it is important that you take cognisance of if and when I am posting. I make a lot more money (money velocity) in at least three markets all other than the one Africa is trading. You can also take the trouble to find out what is what on ET. by counting hits on threads that you are presently ID'ing me with, you find out simply and clearly what the membership at large thinks of me and how trading works. When I make a comment on how someone is doing or what their quality is, get it straight that I am reporting to the membership something that is in their interest to regard and act upon. You are not worth responding to but I did to just assure that what you are saying, substantively speaking is properly valued. And on the otherhand, regarding me, there is no other person's views in ET that have more hits. It is my concern that I return to posting with my original name, Jack Hershey, for the convenience of ET members. I think that it can be arranged as I resume posting.
Best 1 min trader that I've come across is Goinglite at dacharts.com He uses CCI and takes the break of the 133 level as his trigger but waits for a retrace to enter. Most times he catches the extreme of the move on the retrace. You will have to search for his older stuff as he is using tick charts mostly now and takes his ES trades off a 30tick chart, but his technique has changed very little as he's got it close to perfect. He details his CCI set up but also uses Keltners and now quite a pile of other indicators. He won't give much away about the rest of the indicators but there are a couple of templates that include the basics of his set-up and he's made these available. I've watched his posts for a couple of years so I know it's not flash in the pan stuff. However there's an art in what he does. He used 1min for entry, plus 3 and 10min for bigger view. Hope this helps.