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I use only 2 MAs as a filter (used the same settings long time) Had some time over and did a backtest buy sell on cross I used a trailing stop and optimized the trailing stop only and for th

JESS ........TWO BARKS FOR BUY     ONE BARK FOR SELL   ???

Dax pausing at the weekly R1 and Dow within striking distance of it's all time high. H1 charts;

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Bottom line? "We believe further dips should be bought into", Barclays analysts write, noting however that the consolidation might not be over and the upside currently looks limited.

 

Uh ... so keep buying even although prices won't go much higher for a while.  Great advice.

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2 minutes ago, AndrewS said:

Oh, here is another minute chart. Notice how well a moving average would have served  as a trailing stop during the US trading session the other day.😀

661561916_IGMetaTrader4Terminal.thumb.jpg.ecafd3c2f96e968f9203f493b4b70119.jpg

 

Yeah I see it.  Whipsawed 5 or 6 times before you get one good trend.

Edited by dmedin
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5 minutes ago, dmedin said:

 

What do the arrows mean?

The arrows are just showing the info in the stoch sub window that price has exited the over bought or over sold region, but once an arrow has been laid down it won't put another one the same colour until an opposite one has been posted.

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I'm impatient, overtrade, don't wait for my signals and ruin myself but even I wouldn't be trading on a one minute time frame.  I really don't understand what can be gleamed from it.  I suspect the only way one could is to be sat down with someone who does and watch them, and nobody likes being watched.  I don't even like getting near other people, f*king hate them.

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4 minutes ago, dmedin said:

I'm impatient, overtrade

yes we know.

5 minutes ago, dmedin said:

I really don't understand what can be gleamed from it

yes we know you don't.

2 minutes ago, dmedin said:

I don't even like getting near other people

yes we know.

6 minutes ago, dmedin said:

I suspect the only way one could is to be sat down with someone who does and watch them

be a waste of time because of all of the above.

But at least you've started making a list of all your short comings and that's a good first step. 🥳

 

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57 minutes ago, dmedin said:

 

Yeah I see it.  Whipsawed 5 or 6 times before you get one good trend.

I would only use it as a trailing stop when momentum is very high and prices are going through levels like a hot knife through butter and I don’t really have a better way of managing the trade. In practice what I did was I went flat when the Dow was at 25,700, but I was mostly short the Nikkei and caught a 900 point swing on some of them. But I could have got a few hundred more points. So this chart is part of a post mortem on how I might have done better.

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I am currently long on the Dow and looking to short at  26054 (15point stop loss) and that doesnt hold then I will try to short again at 26356 (15points stop loss). I hope I am right...

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6 hours ago, Caseynotes said:

yes we know.

yes we know you don't.

yes we know.

be a waste of time because of all of the above.

But at least you've started making a list of all your short comings and that's a good first step. 🥳

 

Go kiss Donald Trump's @rsehole.  Again.

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5 hours ago, AndrewS said:

I would only use it as a trailing stop when momentum is very high and prices are going through levels like a hot knife through butter and I don’t really have a better way of managing the trade. In practice what I did was I went flat when the Dow was at 25,700, but I was mostly short the Nikkei and caught a 900 point swing on some of them. But I could have got a few hundred more points. So this chart is part of a post mortem on how I might have done better.

 

Do you actually make money?  Because most on here don't.  I think it's something like 98%.

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26 minutes ago, dmedin said:

 

Do you actually make money?  Because most on here don't.  I think it's something like 98%.

I think I see a pattern. Now it is true I have had a draw down entirely through stupidly carrying over losing scalps. But this is my best week for months and I have almost completely fixed it up. You do not continue to get updates.

 

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25 minutes ago, AndrewS said:

I think I see a pattern. Now it is true I have had a draw down entirely through stupidly carrying over losing scalps. But this is my best week for months and I have almost completely fixed it up. You do not continue to get updates.

 

Interesting rationalization, common among all gamblers/addicts.

I suppose you think you'll be able to make consistent profits 'one day'?

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7 hours ago, Caseynotes said:

be a waste of time because of all of the above.

Like a Christian who can't tolerate to hear criticism of his fairytales, because his faith isn't quite as firm as he'd have us believe.

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14 minutes ago, dmedin said:

Interesting rationalization, common among all gamblers/addicts.

I suppose you think you'll be able to make consistent profits 'one day'?

Since February 27 I have had 1,736 profitable trades out of 1,963 trades and am profitable on every instrument I have traded.

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54 minutes ago, AndrewS said:

Since February 27 I have had 1,736 profitable trades out of 1,963 trades and am profitable on every instrument I have traded.

So you're making money?  That's the main thing.

It's really easy to make money when the market trends.  Literally anyone can do it.  You must have found a way to avoid the whipsaws (which isn't apparent at all from your charts, which make no sense to me), and the market whipsaws most of the time hence almost everyone loses more than they make.

Edited by dmedin
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9 hours ago, dmedin said:

So you're making money?  That's the main thing.

It's really easy to make money when the market trends.  Literally anyone can do it.  You must have found a way to avoid the whipsaws (which isn't apparent at all from your charts, which make no sense to me), and the market whipsaws most of the time hence almost everyone loses more than they make.

I don’t know why you have the confidence to frame how others trade. In every candle there are buyers and sellers who may have a better idea of what they are doing than you and me.

But this is what happens to some who have not thought well about what they are doing. They have had losses and so have decided to only trade when they see evidence that a move is underway. But they are chasing prices right into support/resistance or a point where the return/ risk and probability are low.

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13 hours ago, dmedin said:

Like a Christian who can't tolerate to hear criticism of his fairytales, because his faith isn't quite as firm as he'd have us believe.

 

20 hours ago, dmedin said:

I really don't understand what can be gleamed from it.

all charts are the same, sure they move in cycles on different time scales but if I took away the price and the label of a chart you would not be able to tell me what asset it was or the time frame.

People keep losing because they are wedded to the belief that all you need is a pattern, a 'feeling', and luck, when what  you really need a repeatable system that has a proven positive expectancy.

Building a system and testing it is relatively easy. I keep directing to the 'Trade Planning and Testing' thread but most people prefer to talk rather than listen.

This entry system just needs a trend (sloping MAs), a pullback, and then a reversal to continue with trend as signaled by the stoch indicator.

so on the dax 1 minute Friday morning chart (posted earlier in the thread) there were only 4 signals one of which failed.

The time frame doesn't matter, the picture below could occur on any chart. Indicators need to be adjusted to suit the time frame eg the EMAs are 50 and 75 rather than the 20 and 50 that would suit a higher time frame but that's all.

Simple stuff like this works if you can stick to it, most don't, they get impatient and slip back into looking for patterns, feelings and luck, it's more exciting after all.

image.thumb.png.b2763158e96fdf26be5e393720f0a773.png

 

 

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9 hours ago, Caseynotes said:

Simple stuff like this works if you can stick to it

 

If you have the patience to stick to it, and the patience to not take any trades for an extended period of time.

Who doesn't log in to IG first thing in the morning and spend all day looking for trades?

That's like spending all day in a house of ill repute and waiting till you think you've found one that doesn't have an STD.

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13 hours ago, AndrewS said:

I don’t know why you have the confidence to frame how others trade. In every candle there are buyers and sellers who may have a better idea of what they are doing than you and me.

But this is what happens to some who have not thought well about what they are doing. They have had losses and so have decided to only trade when they see evidence that a move is underway. But they are chasing prices right into support/resistance or a point where the return/ risk and probability are low.

 

All that you say is true, but are you making a net profit commensurate to the time and effort involved in trading?

If not, why don't you pack it in and pay off your mortgage instead?

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7 minutes ago, dmedin said:

 

All that you say is true, but are you making a net profit commensurate to the time and effort involved in trading?

If not, why don't you pack it in and pay off your mortgage instead?

You probably don't remember, but you have asked me about six times in this thread about my finances.

 

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