The Simplest Trading Method In The World

Pazienza said:
:)
Click to expand...

Indeed - this was a reversal off the RTH Low/4H 20MA that ran out of steam (I took 2.25pts here) and then fading that move for a long, long ride down (which I chose not to take because I decided to pack up for the day because I was knackered and wanted some kip).

This is twice in 2 months I've missed a 20pt+ move.

Ah well, we live to fight another day.

How did you exit and more importantly, when Jimmy?
 
robster970 said:
Indeed - this was a reversal off the RTH Low/4H 20MA that ran out of steam (I took 2.25pts here) and then fading that move for a long, long ride down (which I chose not to take because I decided to pack up for the day because I was knackered and wanted some kip).

This is twice in 2 months I've missed a 20pt+ move.

Ah well, we live to fight another day.

How did you exit and more importantly, when Jimmy?
Click to expand...

First off Rob, I would like to thank you for asking that question, and answer by saying "F*** You". :LOL: Because if I tell you where I exited I will cry, and then drink, and then smash things.

I bungled it because I was adjusting my stop in the middle of speaking to a client. If trading according to my method (which I did today and got one break even on TF) I would have trailed it almost to the bottom.

It is just a simple trailing behind the other side of 1 or 2 bars method - often works very well on these and allows you to catch some very big moves. If you stick to it and don't be a div, that is, which is what I didn't do.
 
Pazienza said:
First off Rob, I would like to thank you for asking that question, and answer by saying "F*** You". :LOL: Because if I tell you where I exited I will cry, and then drink, and then smash things.

I bungled it because I was adjusting my stop in the middle of speaking to a client. If trading according to my method (which I did today and got one break even on TF) I would have trailed it almost to the bottom.

It is just a simple trailing behind the other side of 1 or 2 bars method - often works very well on these and allows you to catch some very big moves. If you stick to it and don't be a div, that is, which is what I didn't do.
Click to expand...

Well, I was looking at it as it broke 1321 on the cash and thought to myself 'I should take this fade but I just can't be arsed'.

Anyway, in case you need some help.

Third-party-facepalm.jpg
 
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robster970 said:
Well, I was looking at it as it broke 1321 on the cash and thought to myself 'I should take this fade but I just can't be arsed'.

Anyway, in case you need some help.

Third-party-facepalm.jpg
Click to expand...

Thank you. There was so much fail I need a great deal of additional facepalm. Your contribution goes part of the way to providing it.

It's just one of those things - I ended up with about 0.5R (exited by my stop on the first little pull back), instead of the 4R that simply following my plan would have given.

The important thing is that I take the message on board and use it to reinforce my discipline.

That was (in parts) a bit serious, for which I apologise.
 
Anyway, my final contribution for this week with 4hrs sleep and a mild hangover. This is one of my bread & butter trades, netting me a couple of points for the day.

NFP did not make any real inroads considering the news was as expected with the bonus of unemployment figure dropping - this told me to watch out for downside pressure today.

So it opened and moved down to RTH Low from yesterday after about an hour. Took the reversal off it that had a nice clean upward thrust.

Shortly after the move started to fade away, so I took a small loss on the reversal figuring that the downside pressure is kicking in and went short.

Exit wasn't too hot - decided to net 4pts and pack up for the day instead of taking 6pts which would have been more likely if I'd have been a bit more patient.

Net 1.5pts up for today.
 

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I shorted the break of the 15m NFP bar. Unfortunately, the best-looking was TF, which came back after a while and took out my break even stop. ES wouldn't have done, but I didn't like the look of it quite so much, YM was weaker still, and NQ didn't qualify.

A frustrating week overall, 1 very small win and 3 break evens.
 
DashRiprock said:
Fyi
Click to expand...

Did you take it Dash? I'm riding NQ down at the moment. It's hitting 2320 which I like for a reversal point, although if it breaks I could see maybe even 2300.

Anyway, I'm just trailing it out, so we'll see what happens. I've got nearly 2.5R locked in, which is more than my informal aim for 2 weeks.

Life is good :).
 
Pazienza said:
Did you take it Dash? I'm riding NQ down at the moment. It's hitting 2320 which I like for a reversal point, although if it breaks I could see maybe even 2300.

Anyway, I'm just trailing it out, so we'll see what happens. I've got nearly 2.5R locked in, which is more than my informal aim for 2 weeks.

Life is good :).
Click to expand...

No, i trade the tnote (setup was slightly the same but in other direction, I was looking for tnote shorts but never got the green light).

what I was looking for can now be seen on the graph, just lower down.
 

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Pazienza said:
Did you take it Dash? I'm riding NQ down at the moment. It's hitting 2320 which I like for a reversal point, although if it breaks I could see maybe even 2300.

Anyway, I'm just trailing it out, so we'll see what happens. I've got nearly 2.5R locked in, which is more than my informal aim for 2 weeks.

Life is good :).
Click to expand...

I'm seeing 2300 NQ and 12k YM today now it's just broke. No trades for me today, just watchin'
 
i stepped off desk, was there some more news about libya? sexy shorts to be had in the spoos :)
 
Pazienza said:
Did you take it Dash? I'm riding NQ down at the moment. It's hitting 2320 which I like for a reversal point, although if it breaks I could see maybe even 2300.

Anyway, I'm just trailing it out, so we'll see what happens. I've got nearly 2.5R locked in, which is more than my informal aim for 2 weeks.

Life is good :).
Click to expand...


:LOL: After a basinfull of Arabian Nights I see that you have decided that there is room on the site for this thread, after all! Keep the masses happy!

I don't blame you!
 
Here's the chart. They don't come much easier than this.

I feel happy if I can get 4R per month, which is highly doable in my opinion (and experience). This did just under that in a single trade (3.5R).

The trick now is not to give it back. :)
 

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