Dow 2007

[lurkerlurker]

Lurker, maybe this might help you with you trading system.

As you are aware, I have posted to an extent the system I have traded successfully for many years, the time lag entrys by using the ema's & dema, enable me to trade relatively stress free

I have dabbled trying to find a methology which would enable me an earlier entry than I'm normally used to, and to some extent I have been successful, however, in doing so, have found myself outside of my comfort zone as I'm not trading to plan, and have founm myself entering & exiting positions on price movements.

I'm going to look to see how , if at possible I can incorporate some of these new indicators into my plan, if I can't do this successfully, then back into the hovel of my comfort zone.

The moral, if there is one, get your system sorted, understand it, trade it to the tee, if you start to dabble, it can go wrong, tonight is a classic example from me, 3 winners, 2 losses. Had I stuck to my tried and trusty plan, they would have all been winners.

Maybe I can get back some of thos point between now and the close, I don't know, but I will try.

How about you recognise you are having a poor day discipline wise and should be happy with net winning trades? Don't try and recover lost pips.

I am considering trying your system again. Is there _any_ discretionary component in it whatsoever? I'd appreciate a detailed post of the EMA system either here or in my journal. I remember being really confident with it when I first tried, but things got in the way.

Does anyone else here get that eerie sort of trading confidence where you can almost see the bars as they are filled in, and when the trade moves in your favour you knew it would? Is that how consistently successful traders feel all the time? Or is it just confidence in a system?

Maybe take the rest of the night off? It has been a weird day today. (I think an inside day too)

 

[Dinos]

I may live to regret this, but short form 35

 

[Atilla]

I may live to regret this, but short form 35

Watch those charts very closely imo Dinos.

Whilst I agree with the shorts a bounce off 13400-20 regions signals a bullish reversal to me.

Here is another chart.

Following expectations quite well.

If not today then possibly tomorrow or Friday.

Having said all that this is the DOW and may well go pants again.

Here is also the previous 1 Hour charts and how we are at the break out of the standard error channel confirming breakout of the recent downtrend.

 

[BugBear]

I may live to regret this, but short form 35

Breaking down? Hrm.

 

[Dinos]

A very simple method??

Lurker

A very very simple method for trading the 5 min charts using full stochastics set at 14,3,3.

1. When around 90 and breaks through 80, go short and close it turns below 20

2. When around 10 and break through 20, go long and close when it breaks 80.

Check it out

You may get 2-4 trades a days, all profitable, have look and look forward to you thoughts

regards

 

[Dinos]

Atilla, thanks, I'm of the same opinion.

Just trying to get some lost points back at the min. stop/loss set at entry now

Mike. 5 min charts looks to setting up for a move south from here, so hoping to recover a little of my lossesd

 

[BugBear]

1. When around 90 and breaks through 80, go short and close it turns below 20

Happenin right now :|

Hrm, I'm short but I'm scared. Someone hold my hand Will we test 400?

 

[Atilla]

Atilla, thanks, I'm of the same opinion.

Just trying to get some lost points back at the min. stop/loss set at entry now

Mike. 5 min charts looks to setting up for a move south from here, so hoping to recover a little of my lossesd

I'm not sure. I want to pounce but don't know which way it's going. Hourly charts telling me we are going to break out of the downtrend.

Will wait to see if 13430 is breached. Rather lose 10-20 pips then catch the down draft. Sneaky brokers may be luring old folkes like me in.

 

[Atilla]

I'm not sure. I want to pounce but don't know which way it's going. Hourly charts telling me we are going to break out of the downtrend.

Will wait to see if 13430 is breached. Rather lose 10-20 pips then catch the down draft. Sneaky brokers may be luring old folkes like me in.

Given it's almost market closing time I'm not tempted to enter a trade.

Will leave it to tomorrow. Pips in my hand are better than out in the wilderness.

PS I really think everybody is looking around to see what everyone else will do.

Also the Apprentice is on and we have to get lifes little joys in order eh?

FWIW I reckon it's up. Even if it dives down first. It's up. This is the DOW we are talking about.

 

[Dinos]

Out flat.

No more trades for me, getting erractic, me not the charts.

After Profiting from my overnight long, I was up 92pts, but silly losses, means I finished up +42, not to be sniffed at, but I need to recoup my senses and trade more rationally tomorrow.

Hope you have had a good day

 

[Atilla]

Out flat.

No more trades for me, getting erractic, me not the charts.

After Profiting from my overnight long, I was up 92pts, but silly losses, means I finished up +42, not to be sniffed at, but I need to recoup my senses and trade more rationally tomorrow.

Hope you have had a good day

Good call Dinos.

Everybody have a delicious evening...

 

[lurkerlurker]

Out flat.

No more trades for me, getting erractic, me not the charts.

After Profiting from my overnight long, I was up 92pts, but silly losses, means I finished up +42, not to be sniffed at, but I need to recoup my senses and trade more rationally tomorrow.

Hope you have had a good day

You lost 50 pips in intra day trading? Must be a bad day all round - I lost 54. Better luck next time.

Lurker

A very very simple method for trading the 5 min charts using full stochastics set at 14,3,3.

1. When around 90 and breaks through 80, go short and close it turns below 20

2. When around 10 and break through 20, go long and close when it breaks 80.

Check it out

You may get 2-4 trades a days, all profitable, have look and look forward to you thoughts

regards

Hmm. I plotted that, and I get no signals for today. It never goes above 80 or below 30.

Am I doing something wrong (14,3,3 on a 5m)?

 

[stevechelt]

Lurker

A very very simple method for trading the 5 min charts using full stochastics set at 14,3,3.

1. When around 90 and breaks through 80, go short and close it turns below 20

2. When around 10 and break through 20, go long and close when it breaks 80.

Check it out

You may get 2-4 trades a days, all profitable, have look and look forward to you thoughts

regards

This is almost the very simple method I am still painstakingly paper-trading, also using short timescale trendlines and it does generally work well. I use the trendlines to try to remain in trades longer, have different stochastics settings of 26,3,6 and look at different timescales with the same settings to get a better picture, from 1m up to 5m and sometimes 10m. (My charting package is flexible so I can use bars set at 2,3,4,6,8 or whatever I want in terms of minutes.)

I still suffer from lack of confidence when it comes to pulling the trigger with real £s, and feel I look too closely at the one min bars which then obscures the larger picture and can cause panic exits.

Keep at it LL, I am sure you can make it with practice and determination, I certainly hope I can!

Steve

 

[tricks]

Happenin right now :|

Hrm, I'm short but I'm scared. Someone hold my hand Will we test 400?

short 65 cash

 

[lurkerlurker]

Cash market shut now guys. Better luck tomorrow.

Shameless Plug
Postings to the Journal Appreciated. Thanks.

 

[tricks]

short 65 cash

Oops, -17

Tomorrow's another day and another opportunity!

 

[watson]

You lost 50 pips in intra day trading? Must be a bad day all round - I lost 54. Better luck next time.

Don't be too downhearted - I lost 77 today! Pretty poor. However, in my defence I was stopped out on a couple of trades which were (for a short time) profitable as the ADSL went down for an hour (apparently Nildram had a "core network failure", whatever that means!). In any case, I should have stopped when I was +20... Maybe I should make this my daily target. I agree with what someone said above (think it was Atilla); I also seem to become more risk loving when I'm "winning". Must remind myself to be extra careful with my next trade after a winner...

 

[firewalker99]

You lost 50 pips in intra day trading? Must be a bad day all round - I lost 54. Better luck next time.

Let's also consider the number of trades people make.

made only 2 myself, both +20's. +40 might not seem a lot in today's especially wide range day, but it still decent enough for the daily target I had in mind.

 

[firewalker99]

Hmm. I plotted that, and I get no signals for today. It never goes above 80 or below 30.

Am I doing something wrong (14,3,3 on a 5m)?

I think you are, because if I plot stocs on those settings, I do get 2 signals. Coming from 90 and traveling below 80. It never goes lower than 15 however on my chart.

By the looks of it this would've been 1 profitable and 1 losing trade. But if you had a decent risk/reward, that would've resulted in a net profitable day.

 

[firewalker99]

My charting package is flexible so I can use bars set at 2,3,4,6,8 or whatever I want in terms of minutes.

Steve

Hi Steve, I was wondering what charting package that is you are using?