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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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25 minutes ago, dmedin said:

Caution!  Virus resurgence - zombies spotted!!!

BEIJING, June 17 (Reuters) – China shares paused on Wednesday, after gaining in the previous session, as Beijing re-imposed travel curbs following a resurgence in cases of the new coronavirus in the capital city.

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Time to rethink my entire 'strategy' yet again.

Taking positions in and out just isn't profitable.  What IS profitable is staying in a winning position for as long as possible, whether it's 1:2 or 1:4 or 1:10 - setting arbitrary R:R ratios just isn't helpful.  It means you sit on the sidelines for extended periods instead of letting profits run.  Then when the market stops trending you get whipsawed so much you lose everything you made in the blink of an eye and have to start over again.

Sigh.

Edited by dmedin
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32 minutes ago, dmedin said:

Indices sh!t the bed big-time.

860954166_Japan225_20200618_03_38.thumb.png.c4126d251deb49bd1f9fcc3a0d5621c1.png

My, your up early.

The indices have approached the middle of a trading range judging from the recent large wicks on the daily charts.

US30Daily.jpg.4b5a39d8e2670a0916061a2ee833a60e.jpg

 

This is what my current rules look like ( which are very much an individual thing.

Max Position Size AUD= 
1. Trade intraday primarily (unless carrying
over is in the original decision) 
2. Favoured Time 4PM to 4AM (Sydney Time)
3. Trade Retracements/  Bounces  on 
multiple time frames
4. Look at  IndiciesMainLong for trade setups

5. Look at  IndiciesMainShort for trading

 

 

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24 minutes ago, AndrewS said:

My, your up early.

The indices have approached the middle of a trading range judging from the recent large wicks on the daily charts.

US30Daily.jpg.4b5a39d8e2670a0916061a2ee833a60e.jpg

 

This is what my current rules look like ( which are very much an individual thing.

Max Position Size AUD= 
1. Trade intraday primarily (unless carrying
over is in the original decision) 
2. Favoured Time 4PM to 4AM (Sydney Time)
3. Trade Retracements/  Bounces  on 
multiple time frames
4. Look at  IndiciesMainLong for trade setups

5. Look at  IndiciesMainShort for trading

 

 

 

From my perspective (FWIW ROFL) the last buy signal on DJIA was here, you would have got a profitable trade here at 1:2.  It's all about having the patience to know when to sit aside and NOT to trade.

I don't see myself ever becoming a scalper, unless I somehow develop a purely mechanical system for doing it.

1492721472_WallStreet_20200618_04_41.thumb.png.fe4a6b5c2a8339b33664ad2a43053c03.png

 

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