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TEN-THOUSAND IN EDUCATION, FINALLY PAYING OFF

  #76 (permalink)

new york
 
Trading Experience: Intermediate
Platform: ninjatrader
Broker/Data: mb trading
Favorite Futures: 6e
 
bobbyacim's Avatar
 
Posts: 184 since Feb 2010


Xeno View Post
If you'd come on this thread saying that you'd discovered MP and stats and you really liked them and that you'd found a good teacher; and that early signs in trading were encouraging, but it was early days, then there would have been no issue. But you came on saying you'd transformed your trading, you were now profitable and that your teacher was a 'master'. You then dropped the bombshell that you'd made only nine trades.

This is not just a question of you being over-enthusiastic. There are real issues here. There are newbies who will go out and buy courses and pay people money based on you saying you are profitable with this system.

I'm happy for you that you've found something you like, but the crux is this. You say you are profitable. I think all of us know when we use that word that we mean consistently profitable as a trader, not that a small set of trades is profitable.

Here are two trades from last night and the setup I rely on exclusivly for my entry trigger, but not for my trade strategy!!!

CHART IS A 1 RANGE

Firstly, I have a 200ema(RED) and 100 ema(Blue) for longer term trend direction that under no circumstances WILL I TAKE TRADE AGAINST!

If I'm looking to short, BOTh have to be pointing DOWN, 200 MUST BE above 100, and spreading apart EVEN SLIGHTLY!

If the distance between them is narrowing, that is a caution; if they are horizontal (as confirmed by using my cross-hair pointer as a measure of how horizontal they are) THAT IS AN EXTREME CAUTION.

Then, I only use the fast K of Stochastics(7,9,3) for main heads-up, WITH LEVELS OF 65 AND 35, WHEN k CROSSES DOWN PAST 65, this is main trigger ( The cross must occur with a nice rounding EFFECT above the 65 level)

The standard MACD is my secondary CONFIRMATION; I omit the histogram completely. The Macd CROSS must cross shortly after the main Stochastic cross.

Nice extra: The Bollenger Bands are starting to narrow near my expected entry and candlesticks are sitting on one of the bands.

The setup is very good, however I DO NOT RELY ON SQUIGGLY LINE INDICATORS FOR THE DECISION TO TAKE THE TRADE, I RELY ON MY MARKET PROFILE SCREEN THAT SITS ACTIVE RIGHT NEXT TO MY TRADING SCREEN.

2011-04-14_1724 - bobbyacim's library

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