those "confirmers" must really be wearing George out! He sounds tired...
these three confirmers will ensure 100% that you will be profitable.
Take time to study and learn.
Learn slow, earn fast.
George
can't wait to read the posts from the person that gets this for free. The intraday Mini Dow does not reverse on "price" (support/resistance). The intraday Mini Dow does not reverse on "Time" (averages, divergence, etc). The intraday Mini Dow does not reverse on technicals (stochastic, etc). The intraday Mini Dow reverses on 'DOW BEHAVIORS'. 3 or more DOW BEHAVIORS and the market will reverse one complete cycle of prices. After that, all bets are off, the second and third cycle of prices determine if a trend or trading range follows the first cycle of prices.
George is right that you need to "check off" things as they happen. However, Downtrend Reversal Ups (what I call DRUP's) are TWO MINUTE reversals in the MIni Dow - and they don't retrace based on price or time. I can see why George is getting tired. George, why not let the DRUP occur, don't chase the dang thing (but do close your short position) and wait for a 'confirmation' , which is based on price, time, technicals and a 'Dow Behavior'.
It helps to know if the Mechanical Trading Systems are net 'short' or net 'long' during the trading day, and that is known from the "opening tick", which I call 'Yesterday's Trade'. The market open and the previous day's closing price are set by Mechanical Trading Systems; they will be exiting their previous day's positions sometime today - my Yesterday's Trade relieves stress and uncertainty as to when this reversal is to occur.
Cycles of prices are like Sine Waves, you can make a nice living exiting at the second profit objective in a couple minutes in that first cycle. If you are a scared cat, move your stop to breakeven (including commission) and hang in there if a trend develops for your second set of contracts. The times you get stopped out, you've already racked up 30 to 100 Mini Dow points, who cares, the trends that do occur rack up another bunch of monster points. You've practiced good money management in the meantime, by locking in known, predictable profits and not giving them back by exiting at breakeven after the first price cycle does a 180 on you. You're a % trader, knowing the Dow Trends 'x' minutes per day, 'x' times per day.
Strict money management is the key, and having charting software that always confirms whether you are in a Trading Range or a Trend is currently happening.
If George's methodology was efficient - maybe it does work, but the stress seems pretty high - you would get your points in the morning and be golfing or boating in the afternoon. If you're learning a method, it's always easier to trade the Mini Dow in the afternoon instead of the morning. If you understand Sine Waves and price cycles (and Dow Behaviors), you will INSTANTLY know why. [grin]
The Mini Dow is a manipulated market, is very efficient and repeats the same cycle methodology week in, week out.
Good Trading out there!
The Mechanical Day Trader
