My trading strat.......

[ceydababy]

Agree with.....

the comments you guys are making. CU2 as you know my favourite time in the market is the first couple of hours. Nice big swings often mean profit. However today did take my two positions out both for -6 each....hmmm Not good trading..got long FTSE at 24.8 cut at the bottom only to watch it rally. Was in a meeting for the fall...oh well.

Glad you guys seem to be making some cash with this setup.

Any other additions post it here !! Hopefully we can add improvements to this system together.

 

[gorney]

hi ceydababy,

I would like to ask a few questions.

How do you decide whether the market is choppy/ranging? Do you use the 50SMA as a filter. For example do you only go long when the price breaks above the 50SMA and short when it breaks below?

Or do you look at the direction of the 50SMA? For example if it is heading up then you go long, or short if it is heading down?

Have you managed to come up with a more objective way to exit your trades yet or do you rely on discretionary analysis of the market conditions, support/resistance levels etc.?

I am asking because I want to try to improve my results with your system.

I have been experimenting with various parameters, including a 20EMA with the 50SMA. A tight protective and trailing stop system. Example, I have been keeping a -3 protective stop on entry, then a break even stop when it is +5 in profit. When it gets to +10 i place a +5 trailing stop and then let it run as best I can before deciding when to close out entirely.

I don't mind if I get stopped early at -3 because I can then re-enter if I think the trade is still good. I am still playing around at the moment but I want to keep my loss as low as possible and hopefully catch one of those good big trend moves for +50 points or more!!!

I am still learning and testing, so please be gentle with any criticism. I also like to use the Bollinger bands to help me with measuring the volatility levels. Anyway, I will let you know in due course what I find works best for me.

Thanks again,
Scott.

 

[gorney]

I will post my trades with charts, profits and losses when I can. Hopefully I will not be too embarrassed if I make many losses.

 

[PKFFW]

Dear PKFFW,
To the entry. You need to just trust the signal how its been given otherwise I wouldn't be game at all. It's that simple really. Of course there will always be the odd bad signal. Just watching the FTSE in the last couple of weeks, I find it an easier market to trade than the dax which is jumpy most of the time and less predictable.
I dont know much about S&Ps but you seem to be doing just fine.

I do trust the signal, but I don't take every single one that comes along. I'm finding a bit of common sense and discrestion, as ceyababy says, is necessary.

So far this is how I'm doing things......

psar and macd line up as per cyababy's OP.
I've put a 20ema on with the 50sma and I'm looking for trades only in the direction indicated by them.
If MA's are flat and price seems to be ranging I will mark range on chart and wait for a difinitive break before taking a signal.
Exits I determine by a couple of things......if macd and psar no long line up I exit otherwise I'm just looking at price and the momentum of the macd and try to determine the best place to exit.
initially I aim for 2 point profit with 1.5 point stop.

Cheers,
PKFFW

 

[cu2]

Trading rule are simple, but hard to master.

Absolutely. I will do my best to keep things simple.
regards.

I agree to what you say, to keep it simple.
As there are no predesignated rules to exiting in this strategy, therefore it is not a complete system.
Because in the last few posts we are getting down to other more complcated tech. factors which diverges from just simple entry rules as mentioned at the beginning of the thread.

In which case I should also be changing my statment, "enter at signal" but I wont because nobody can see how the future will be, so if it is choppy or whippy, your not going to see that before it happens or when it will finish. Don't you agree that it all goes back to the basic trading rules, and practice which will make it or brake it for you in the long run.

I am no expert but at least that is what I have been reading over and over again.

 

[ceydababy]

hi ceydababy,

I would like to ask a few questions.

How do you decide whether the market is choppy/ranging? Do you use the 50SMA as a filter. For example do you only go long when the price breaks above the 50SMA and short when it breaks below?

Or do you look at the direction of the 50SMA? For example if it is heading up then you go long, or short if it is heading down?

Have you managed to come up with a more objective way to exit your trades yet or do you rely on discretionary analysis of the market conditions, support/resistance levels etc.?

I am asking because I want to try to improve my results with your system.

I have been experimenting with various parameters, including a 20EMA with the 50SMA. A tight protective and trailing stop system. Example, I have been keeping a -3 protective stop on entry, then a break even stop when it is +5 in profit. When it gets to +10 i place a +5 trailing stop and then let it run as best I can before deciding when to close out entirely.

I don't mind if I get stopped early at -3 because I can then re-enter if I think the trade is still good. I am still playing around at the moment but I want to keep my loss as low as possible and hopefully catch one of those good big trend moves for +50 points or more!!!

I am still learning and testing, so please be gentle with any criticism. I also like to use the Bollinger bands to help me with measuring the volatility levels. Anyway, I will let you know in due course what I find works best for me.

Thanks again,
Scott.

Hi Scott,

I don't think there is an indicator that can tell you when conditions are choppy or range bound. That is just experience through screen time. The way I use the system is as follows:

EXIT STRATEGY......

Trade 2 lots

1st Lot comes out at +10
2nd Lot Stays in with stop @ flat

As soon as the system goes the other way, by this I mean parabolic switches or MACD switches. I also use a 10 SMA 21 SMA if these cross or the price opens on the opposite side on the 21ma price to where it needs to be (eg...if I am long and the price opens below the 21 SMA) I also get out. Also if the price breaks above a recent relative high I take the 2nd out too.

As far as stops go....

1st Lot comes out at -5
2nd Lot comes out at -10

I believe you need to act in a consistent manner each time you trade. I took a -12 hit this AM for not acting in a consistent manner..1st lot came out that was fine...took the second out too early. I was long @24.8..you can only imagine how sick I felt as I watched the price rocket as I cut it pretty much at the LOD.

If the price is banging it's head on the 50sma I would wait for a break before taking the signal.

Once the market is range bound, I draw lines at the relative high and relative low and wait for a break. I generally don't trade the first move but wait for the next signal after the break.

To me the toughest part of trading is knowing when to trade and not to trade

 

[ceydababy]

I agree to what you say, to keep it simple.
As there are no predesignated rules to exiting in this strategy, therefore it is not a complete system.
Because in the last few posts we are getting down to other more complcated tech. factors which diverges from just simple entry rules as mentioned at the beginning of the thread.

In which case I should also be changing my statment, "enter at signal" but I wont because nobody can see how the future will be, so if it is choppy or whippy, your not going to see that before it happens or when it will finish. Don't you agree that it all goes back to the basic trading rules, and practice which will make it or brake it for you in the long run.

I am no expert but at least that is what I have been reading over and over again.

Exactly CU2. It is all about basic trading rules. You are right no one can see what the future candles are going to bring, if they could well there wouldn't be much need for this forum and no one would ever lose.

I think exit strategies have been discussed, but exits in my opinion are very personal. Some people like to take 5 points per trade, others more. I have put down my exit strategies that I use in the post above.

If anyone has any questions on these please feel free to ask.

 

[ceydababy]

I do trust the signal, but I don't take every single one that comes along. I'm finding a bit of common sense and discrestion, as ceyababy says, is necessary.

So far this is how I'm doing things......

psar and macd line up as per cyababy's OP.
I've put a 20ema on with the 50sma and I'm looking for trades only in the direction indicated by them.
If MA's are flat and price seems to be ranging I will mark range on chart and wait for a difinitive break before taking a signal.
Exits I determine by a couple of things......if macd and psar no long line up I exit otherwise I'm just looking at price and the momentum of the macd and try to determine the best place to exit.
initially I aim for 2 point profit with 1.5 point stop.

Cheers,
PKFFW

Spot on PK... That's exactly what I do with the range, mark it out and wait for the break...sorry just going out and didn't read fully what you had put until after I had posted.

 

[black bear]

Week High & Low & Day High & Low

I do trust the signal, but I don't take every single one that comes along. I'm finding a bit of common sense and discrestion, as ceyababy says, is necessary.

So far this is how I'm doing things......

psar and macd line up as per cyababy's OP.
I've put a 20ema on with the 50sma and I'm looking for trades only in the direction indicated by them.
If MA's are flat and price seems to be ranging I will mark range on chart and wait for a difinitive break before taking a signal.
Exits I determine by a couple of things......if macd and psar no long line up I exit otherwise I'm just looking at price and the momentum of the macd and try to determine the best place to exit.
initially I aim for 2 point profit with 1.5 point stop.

Cheers,
PKFFW

Spot on PK... That's exactly what I do with the range, mark it out and wait for the break...sorry just going out and didn't read fully what you had put until after I had posted.

Hi all

I only trade the Ftse in the mornings

Location of Index at your signal a consideration perhaps, may give you more confidence at entry and pehaps some decent targets for your 2nd Lot if useing more than one.

Sure you will avoid a lot of whipped entries and make better judgements regarding entries & exits, when to hold and fold a trade etc.

Week High & Low and Day High & Low

Normal Pivot Points

R2 = P + (H - L) = P + (R1 - S1)
R1 = (P x 2) - L
P = (H + L + C) / 3
S1 = (P x 2) - H
S2 = P - (H - L) = P - (R1 - S1)

Link to investiapedia ref,

Note: I do not agree with the word predictions contained in the link address I hate that word it should be removed from a traders dictionary today

Using Pivot Points for Predictions

After the opening hour (9am onwards) I use the opening hour as the days pivot

The above calc can be entered into excel and you will then only need to enter High Low and Close each day. Use official EOD High Low & Close not Sb"s of chart Yahoo finance or even C-fax.

Watch the index trade for a couple of weeks before making your mind up that the above is rubbish and you do not agree with or find the locations mentioned no help at all. seeing it live is worth a thousand words.

I think you will find that the above overlayed on your chart and awareness of the Dow index trading location that day will help when trading the Ftse.

Plenty

Good thread ceydababy

Good Luck with your trading all

Andy

 

[cu2]

It is all about basic trading rules. No one can see what the future candles are going to bring.
I think exit strategies have been discussed, but exits in my opinion are very personal.

:idea: That's it in a nutshell. What may work for one may not work for the other. Personality has very much to do with it.
I also think it is better to work out your own stops otherwise imagine what would happen if we all tried to stop at the same time on the same system, that could kill it.

At the opening I like to wait for a few minutes before entering as it can be to volitile. But I am game to start entering after the second signal is complete if the ticks are calmer and trending on 1 min. charts.

Thank you for your feedback, your system it has given me the basis of my second strategy now. I like to also use it on the FTSE because it is quick, in no means boring and best of all it works for me up till now.

 

[gorney]

My results today

Hi Scott,

I don't think there is an indicator that can tell you when conditions are choppy or range bound. That is just experience through screen time. The way I use the system is as follows:

EXIT STRATEGY......

Trade 2 lots

1st Lot comes out at +10
2nd Lot Stays in with stop @ flat

As soon as the system goes the other way, by this I mean parabolic switches or MACD switches. I also use a 10 SMA 21 SMA if these cross or the price opens on the opposite side on the 21ma price to where it needs to be (eg...if I am long and the price opens below the 21 SMA) I also get out. Also if the price breaks above a recent relative high I take the 2nd out too.

As far as stops go....

1st Lot comes out at -5
2nd Lot comes out at -10

I believe you need to act in a consistent manner each time you trade. I took a -12 hit this AM for not acting in a consistent manner..1st lot came out that was fine...took the second out too early. I was long @24.8..you can only imagine how sick I felt as I watched the price rocket as I cut it pretty much at the LOD.

If the price is banging it's head on the 50sma I would wait for a break before taking the signal.

Once the market is range bound, I draw lines at the relative high and relative low and wait for a break. I generally don't trade the first move but wait for the next signal after the break.

To me the toughest part of trading is knowing when to trade and not to trade

Thanks for your reply ceydababy,

I've learnt so much from all the posts here. I am new to day trading. I've been taking lots of notes.

I used the pivot points today and found them to be tremendously helping. I was amazed how many times the price paused at the support/resistance areas. Sometimes they bounced off and sometimes the broke through. Also plotting the levels of ranges and waiting for breakouts helped too. I have more to learn about the swing high/lows. Sometimes i remembered them and sometimes I forgot.

Anyway, I made 20 real trades today. 10 profits/10 losses. 1m bars on FTSE Cash.

+ -
5.00
5.40
9.70 (at +10 at one stage)
10.00 (at +14 for a time)
1.50
4.50
6.00 (between +10 & +12 for a while)
5.30
3.00
7.00 (again, over +10 at one point)
5.70
1.20 (at +6 on Pivot resistance for a while)
5.00
0.30
2.40
4.30
5.00
5.00
4.00
1.00 (at +3.20 a one point)
Totals
Profit: 49.10
Loss: 42.20

Total profit: 6.90

A lot of mistakes but good experience. Learnt a lot about my faulty psychology. Too greedy. Lots of times I was +2 and +3 only to watch me take a loss of -5. That was my stop. Also when i was over +5 or even +10 I was greedy for more. I think if I had entered a profit stop of +10 and maybe a BE stop when I was +2 or 3 then I would have fared much better. I think I ought to lower my expectations and be content with taking a profit and getting out sooner.

I think I may have overtraded today and entered counter-trend trades that probably lost. I will have to back and review each trade. I was pleased to notice times when the MACDH and SAR were out of sync and the candle bars were too wide and choppy. Then I stayed out and waited for them to get back in sync.

I found the MACDH divergences would have set up a couple of nice trades with the signal also. Something to keep a look out for.

I think the experience was worth more than 1000 pts! I'm very much a newcomer to day-trading but I find that a lot of the EOD swing-trading experience is also applicable to smaller timeframes.

I'm going through all the posts and making notes to develop into a cohesive system. I keep the entry signals as laid out at the start of this thread. A few times i was extremely tempted to enter trades based on other factors but I had to stop and remind myself that I had to be disciplined and that I was either going to practice this system or not. One cannot be chopping and changing midstream. I learned that I need to be very clear and decisive about what I am doing. Sometimes I didn't feel confident about entering the signals. I think hopefully that will come with time.

Okay, I have to go now. Until next time! Any feedback, advice etc, would be welcome. Thanks

regards,
Scott

ps The pivot points, support/resistance lines, and a few trendlines that I plotted worked well for me today. I made plenty of mistakes but will learn from them. Also, I kept an eye on 3m and 5m charts occasionally just to for assurance.

 

[cu2]

Just my luck.

Went live on this system today after being successful in it on a demo. Took 2 hits I didn't even have a chance to get out in + so 2 trades -36points.



Am pritty sad about that, seems to be just my luck when going live playing indexes. Has anyone got any words of encouragement.

 

[Splitlink]

Look for main trend. Don't trade against it. My take on Dax, yesterday, was up. BUT THAT WAS MY OPINION. Use an hour chart for main trend. Don't accept such large stop levels. Get out and try again in same direction.Paper trade again.

IMO 1 min too nerve wracking- 5min and/or 15 min easier.

Split

 

[cu2]

Dear Split,
You think -10 is a large stop? I had 2 positions open thats why -18 X 2trades = 36. I was trading in trend direction. Using the 5 min chart to confirm can be a very long wait, before in sync. I have an impatient streak, thats why I choose 1 min charts and I do like to trade that way, but I will try to keep 5mins up to confirm entry next time, thanks for the tip.
What I am not use to in this strategy is that too often you will get the wrong signal. I like to have entries upto 80% success rate. My other system is build on that success rate which is using 1 min charts, but it is only for the opening hour and I was wanting to do a bit more trading after that time.
I think your right that I should keep on paper trading this one for a while yet.
Thanks for caring.

 

[gorney]

Went live on this system today after being successful in it on a demo. Took 2 hits I didn't even have a chance to get out in + so 2 trades -36points.

View attachment 31713View attachment 31714

Am pritty sad about that, seems to be just my luck when going live playing indexes. Has anyone got any words of encouragement.

Hi cu2,

Guess what? I did the exact same trade too! and the one before it! I got my stop hit both times for -5. Not a good start to the day. But I went short on the next signal which was the big drop off. I got +9.70 and then +10 on my next trade. I no expert and very much a learning novice so I am keeping very tight stops with smaller amounts of money until I get the hang of it. -36 seems like your stops might be a bit big. Something to look at maybe.

Here are 2 charts of mine. One displaying how the pivot points helped me spot areas of support resistance and the other a few trades I made. Going through my trades today and looking at my errors left me feeling demoralised as I realised the mistakes I made and how rubbish I am at this game!! . I am trading the 1m bars and I feel a bit jumpy sometimes when the candles whoosh and swoop really fast! If i could hold my nerve and not follow every signal I think I could have picked up some good profits on some good trades. Oh well. Its good practice.

Problem with small stops is they can get hit so quick and I realise that I could make a string of small losses and die a death of a thousand cuts! Keep working on it.

regards,
Scott

p.s. I have 2 question based on the question marks that I put at the bottom of my chart. When the MACDH bars cross but there is just a blank, does that count as bar 1? And then take the signal on bar 2. Today I ignored it and didn't count it as bar 1.

question 2 is when the MACDH changes to the 2nd bar but the SAR doesn't change until the 3rd MACD bar, is this still a valid signal to take on the 3rd MACD bar. In line with the SAR that just changed? I did take it because it looked good. The price was coming down off a peak high above resistance, MACDH formed a lower high diverging from price, a trendline was broken and the 5/20MAs were turning sharply down and about to cross. It worked out profitable but I bottled it and took too early.

 

[gorney]

Dear Split,
You think -10 is a large stop? I had 2 positions open thats why -18 X 2trades = 36. I was trading in trend direction. Using the 5 min chart to confirm can be a very long wait, before in sync. I have an impatient streak, thats why I choose 1 min charts and I do like to trade that way, but I will try to keep 5mins up to confirm entry next time, thanks for the tip.
What I am not use to in this strategy is that too often you will get the wrong signal. I like to have entries upto 80% success rate. My other system is build on that success rate which is using 1 min charts, but it is only for the opening hour and I was wanting to do a bit more trading after that time.
I think your right that I should keep on paper trading this one for a while yet.
Thanks for caring.

Sorry cu2,

I didn't read your post saying you had 2 positions. I'm not sure if -10 is a big stop. I suppose it depends on your own risk tolerance and position size. I think that would be too big for me because I am trying now to go for a 2:1 reward risk ratio, with an initial -5 stop and a +10 profit stop. I don't know. I'm finding this very tough to gauge. On one hand I want to give my trade enough breathing space to get me the bigger gains, as I would on a number of trades today if I didn't get stopped on a minor move during the trend, or I get nervous with fear of losing a profit already gained, so I take it early. On the other hand I want to keep my losses tight and run my profits but good end up getting stopped out continually. I'm not sure. I suppose I could take larger stops with smaller risk capital but then my profits would be smaller too!

I am thinking 2 lots might be better. One to take a +10 profit, one to break even as quick as possible and keep wider to try to ride the trend. I will keep fiddling and practicing.

However, there have been times when taking the early profit or getting stopped worked well in my favour too and saved me losses.

If I feel hesitant or uncertain about a signal then I might as well stay out and wait for the next. Better out than in for me, and I am determined to be more disciplined and systematic. Its the impulsive, give it a go, lucky chance trades that invariably go wrong and lose me money.

Hope you have better fortune next time.

Regards,
Scott

 

[gorney]

What about a contrarian setup!!!

I've been pondering the amazing number of long signals given off at tops just as it drops, and same for short signals. Therefore I wonder just out of humorous curiousity, what if I took the opposite trade for each signal???

Here is what I got. I did a manual backtest of 2 days 1m data and tried to identify those periods that were out of sync. Usually triggered by some very sharp up and down moves with wide ranging candles. Very choppy and ranging.

These are the trades and stats I came up with (note also that each exit was totally and purely mechanical based on the changing SAR or MACDH. They were surprisingly non-lagging unlike the problems with exits in the normal system.

The key is when a long signal is given, go short instead and exit when the MACD or SAR changes. It is as though the MACD has been shifted forwards or backwards by 4 or more bars so it is out of line with the SAR. When the volatility narrows again with small candle bars either beginning to trend or a narrow range then things get back in sync and time to abandon the contrarian strategy.

Anyway, here are the trades (not including the spreads or commisions). I entered each long at its highest price, and each short at its lowest so these are conservative profit/losses and would probably cover the spread. I gave each trade its lowest proft rather than its best.

2 days 1m data.

20 out of sync trades.

17 profits
3 losses

All profits small.
But every exit purely mechanical with no second guessing.

+76.1 points total profit.
-6.8 total loss

Biggest win +12.8 (only 5 trades at +5 or above, so small profits)
Biggest loss -5 (based on a -5 stop loss)

Just something to look at that I found amusing. I haven't had chance to really nail it down because I just got the idea at work tonight and remembered to do a manual backtest when I came home.

I would appreciate your ideas on this. Is it too risky? Seems less risky and more mechanical than the other way?? or am I being very silly??

I looking at this as a solution/focus problem solving exercise. I am constantly looking for little caveats and improvements. I'm t

regards,
Scott

 

[Splitlink]

Hi cu2

OK. if you like 1', that's fine, but IMO there are incongruencies with the plan. !' traders are unlikely to wait for 10 points before getting out, somehow, you have to hone yours down. I still think that you should use a longer time scale to decide your main trend and then, perhaps use your 5' and 1 ' to trigger trades (long, yesterday. Look at the hourly chart and you will see). When I am decided on my trend, I do not trade against it, even if it looks good on the short timescale. There are plenty of better trades coming along tomorrow!

Good luck, anyway.

Split

 

[Splitlink]

Sorry cu2,

I didn't read your post saying you had 2 positions. I'm not sure if -10 is a big stop. I suppose it depends on your own risk tolerance and position size. I think that would be too big for me because I am trying now to go for a 2:1 reward risk ratio, with an initial -5 stop and a +10 profit stop. I don't know. I'm finding this very tough to gauge. On one hand I want to give my trade enough breathing space to get me the bigger gains, as I would on a number of trades today if I didn't get stopped on a minor move during the trend, or I get nervous with fear of losing a profit already gained, so I take it early. On the other hand I want to keep my losses tight and run my profits but good end up getting stopped out continually. I'm not sure. I suppose I could take larger stops with smaller risk capital but then my profits would be smaller too!

I am thinking 2 lots might be better. One to take a +10 profit, one to break even as quick as possible and keep wider to try to ride the trend. I will keep fiddling and practicing.

However, there have been times when taking the early profit or getting stopped worked well in my favour too and saved me losses.

If I feel hesitant or uncertain about a signal then I might as well stay out and wait for the next. Better out than in for me, and I am determined to be more disciplined and systematic. Its the impulsive, give it a go, lucky chance trades that invariably go wrong and lose me money.

Hope you have better fortune next time.

Regards,
Scott

Yesterday I traded long on the Dax in early am. The first made a few points and I moved the stop to BE. I got stopped very quickly but I was out with no loss. After a while I had to buy back in at a higher price but made 38 points in the prelunch session. The point is that if I had stayed in the first trade I would have, eventually, won more. But how was I to know that? I was not prepared to look at my loss accummulating. I was better off out of the trade, I had a cup of tea and waited for the next move.

Split

 

[black bear]

Re-post

Hi all

I only trade the Ftse in the mornings

Location of Index at your signal a consideration perhaps, may give you more confidence at entry and pehaps some decent targets for your 2nd Lot if useing more than one.

Sure you will avoid a lot of whipped entries and make better judgements regarding entries & exits, when to hold and fold a trade etc.

Week High & Low and Day High & Low

Normal Pivot Points

R2 = P + (H - L) = P + (R1 - S1)
R1 = (P x 2) - L
P = (H + L + C) / 3
S1 = (P x 2) - H
S2 = P - (H - L) = P - (R1 - S1)

Link to investiapedia ref,

Note: I do not agree with the word predictions contained in the link address I hate that word it should be removed from a traders dictionary today

Using Pivot Points for Predictions

After the opening hour (9am onwards) I use the opening hour as the days pivot

The above calc can be entered into excel and you will then only need to enter High Low and Close each day. Use official EOD High Low & Close not Sb"s of chart Yahoo finance or even C-fax.

Watch the index trade for a couple of weeks before making your mind up that the above is rubbish and you do not agree with or find the locations mentioned no help at all. seeing it live is worth a thousand words.

I think you will find that the above overlayed on your chart and awareness of the Dow index trading location that day will help when trading the Ftse.

Plenty

Good thread ceydababy

Good Luck with your trading all

Andy

Went live on this system today after being successful in it on a demo. Took 2 hits I didn't even have a chance to get out in + so 2 trades -36points.

View attachment 31713View attachment 31714

Am pritty sad about that, seems to be just my luck when going live playing indexes. Has anyone got any words of encouragement.

Hi cu2

OK. if you like 1', that's fine, but IMO there are incongruencies with the plan. !' traders are unlikely to wait for 10 points before getting out, somehow, you have to hone yours down. I still think that you should use a longer time scale to decide your main trend and then, perhaps use your 5' and 1 ' to trigger trades (long, yesterday. Look at the hourly chart and you will see). When I am decided on my trend, I do not trade against it, even if it looks good on the short timescale. There are plenty of better trades coming along tomorrow!

Good luck, anyway.

Split

Morning Split

Good posts from Split, I will let you post the daddy later on

Sorry to here about your poor start Cu2, it is however only one day and you seemed happy enough with the demo run you did, if you carried that out over enough trades you should not let that day put you off.

When you demo the live market it is very important to do it exactly the same as you intend to trade the market, if you used any discretion regards trade entries you must be honest to the reasons and consider were they valid. I would suggest taking every trade at 1st

EVERY TRADE once your happy with the bare bones method look to improve it from there. Its all to easy to rush in eager to trade real money when 1st results come in positive. Its important to remember the market may have been very favourable to your method at the time of test

Never traded Dax but Ftse locations mentioned in my last post sure to help on that index.

Split mentions use of more than one time frame, that will help plenty to IMO with the system you are using. If new to trading even one additional higher time frame used as a trend filter will help.

I notice from posts the method puts up plenty of trades, fine if your nailing them that day

If not I would consider max entry per day rule with a method like this, perhaps 3, very important if your new to trading IMO, can lead to very poor trading habits if not checked.

Not to mention the total damage it does to your head if it all goes wrong on a day and inexperience leads to chasing your loss"s

Indian with one arrow often returns with more game for the pot than Indian who left camp with many arrows

Hope some of that useful, trade well all

Andy