Salty Gibbon
Experienced member
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You also need a great sense of humour and be able to laugh at yourself and your worst trading decisions.
Best Thread Featured Quick reference for real trading profit. Tips that work
Don't know if this is classed as a tip but anyway -
This is about a way to 'play' a real chart bar by bar to see if you made a reasonable decision to trade and if it worked out. So you want to go back a ways (try not to look at the result before you go back !) then go forward one bar at a time
When you scroll back / fwd on most software you get a few bars at a time (in fact some like FXCM don't even let you scroll !). So you can't control this 'olay' method.
Nothing magic but D4F has a slide bar AND arrow for scrolling. Use the slide bar to go back as far as possible then use the forward arrow to go forward one bar at a time.
This is about a way to 'play' a real chart bar by bar to see if you made a reasonable decision to trade and if it worked out. So you want to go back a ways (try not to look at the result before you go back !) then go forward one bar at a time
When you scroll back / fwd on most software you get a few bars at a time (in fact some like FXCM don't even let you scroll !). So you can't control this 'olay' method.
Nothing magic but D4F has a slide bar AND arrow for scrolling. Use the slide bar to go back as far as possible then use the forward arrow to go forward one bar at a time.
leonardo15
Newbie
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The best rule for trading I've ever used (and I've used it for 20 years without fail) is:
Get out of all losing trades the day of entry.
Meaning, if you enter a trade and by the close it is a loser from the entry point, get out by the close. Even if it is a long term trade. If you have to get in again, fine. Over the long haul you will be "saved" many times by major breakout fakeouts which you will have gotten out of early.
Leonardo
Get out of all losing trades the day of entry.
Meaning, if you enter a trade and by the close it is a loser from the entry point, get out by the close. Even if it is a long term trade. If you have to get in again, fine. Over the long haul you will be "saved" many times by major breakout fakeouts which you will have gotten out of early.
Leonardo
TheBramble
Legendary member
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Sounds like it could be good advice Leo.
I wonder how that would tranlsate into intraday timeframes?
Loser by the end of the first hour (for 15 min bars), end of the first 15 mins (5 min bars)?
Anyone on intraday use a similar strategy?
I wonder how that would tranlsate into intraday timeframes?
Loser by the end of the first hour (for 15 min bars), end of the first 15 mins (5 min bars)?
Anyone on intraday use a similar strategy?
zigglewigler
Well-known member
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Take swing entries on 60 min Woodies CCI 21,4,9 on candle charts(or what you prefer) 100 line crosses that converge with Kagi chart Stoch of RSI 13,7,6,2 in top and bottom extremes. Also use Kagi based Stoch RSI as your intermediate trend indicator, don't fight it!
zigglewigler
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Way too many cereal packet philosophy nuggets, enough, save it for Ophra. Let's share actual trading techniques, then try to knock the crap out of them. If robust, we can feel smug, if not, we can learn a lesson and turn it into a philosophical eulogy.
For day trading SP500, use 13 min candles against 5 min kagi for convergence. Entries on 13 min Woodies 21,4,9 100 line crosses in direction of kagi Stoch RSI 13,7,6,2 trend. Entries in line with the StochRSI direction pay better.
Big moves away from day's pivot can expect sharp pullback, all the SP traders carry the pivot numbers, they run the market, so don't ignore it. I only bother with main pivot, S & R's not so important. Use it like the light drawing the moth.
Look for sharp Woodies turns, rounded tops/bots not so profitable.
Bollinger bands to estimate limits on moves.
Day following inside day often has good reaction move, that shows clear 'as day' with this system.
Load up on the strong signals.
Feel free to kick the crap out of my technique, it helps, honest!
For day trading SP500, use 13 min candles against 5 min kagi for convergence. Entries on 13 min Woodies 21,4,9 100 line crosses in direction of kagi Stoch RSI 13,7,6,2 trend. Entries in line with the StochRSI direction pay better.
Big moves away from day's pivot can expect sharp pullback, all the SP traders carry the pivot numbers, they run the market, so don't ignore it. I only bother with main pivot, S & R's not so important. Use it like the light drawing the moth.
Look for sharp Woodies turns, rounded tops/bots not so profitable.
Bollinger bands to estimate limits on moves.
Day following inside day often has good reaction move, that shows clear 'as day' with this system.
Load up on the strong signals.
Feel free to kick the crap out of my technique, it helps, honest!
trendie
Legendary member
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From "Technical Analysisof the Financial Markets", JJ Murphy.
"Of the 12 systems tested from 1975-84, only 4 generated significant profits. Of those, 2 were channel breakout systems, and one was a dual moving average crossover system. A later article .... published the results of a more extensive study done on data from 1976-86 that compared 23 technical trading systems, Once again, channel breakouts and moving average systems came out on top".
With all the computing power, and sophisticated algorithms at our disposal, the simple stuff makes the most money !!
1: Trade with the trend
2: After periods of congestion, trade the Breakout.
I shall be ditching my computer for an A4 pad.
My mouse for a pencil.
My broadband for carrier-pigeons.
I think it is psychological for us to make things seem more complex than they really are.
It makes us feel as if we have "earned" the money.
( Look how much "work" I have put into this. I havent been following a line on a chart, honest ! )
"Of the 12 systems tested from 1975-84, only 4 generated significant profits. Of those, 2 were channel breakout systems, and one was a dual moving average crossover system. A later article .... published the results of a more extensive study done on data from 1976-86 that compared 23 technical trading systems, Once again, channel breakouts and moving average systems came out on top".
With all the computing power, and sophisticated algorithms at our disposal, the simple stuff makes the most money !!
1: Trade with the trend
2: After periods of congestion, trade the Breakout.
I shall be ditching my computer for an A4 pad.
My mouse for a pencil.
My broadband for carrier-pigeons.
I think it is psychological for us to make things seem more complex than they really are.
It makes us feel as if we have "earned" the money.
( Look how much "work" I have put into this. I havent been following a line on a chart, honest ! )
barbie2002
Junior member
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Show no fear, have no greed. But know when to quit. I have a determined level of loss, and when a (spread) bet reaches that limit I get out.
And ignore moving averages at your peril (oh Alizyme, how deeply you have hurt me ...)
And never binary-bet the FTSE on a Friday, especially on a witching day.
Read 'Extraordinary Popular Delusions and the Madness of Crowds'. Excellent!
And ignore moving averages at your peril (oh Alizyme, how deeply you have hurt me ...)
And never binary-bet the FTSE on a Friday, especially on a witching day.
Read 'Extraordinary Popular Delusions and the Madness of Crowds'. Excellent!
