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Has anyone ever heard of eminisniper.com?

  #122 (permalink)

Quebec
 
Trading Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,857 since Oct 2009
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MWinfrey View Post
entries that I mentioned earlier. I'm not including the indicators for the same reasons others have mentioned. However, I marked the entries on a clean 3 range chart. If you have the system, then you can look at your chart to confirm.


The second trade at 6:38 you took was just in front of a trendline acting as resistance. The current directional bias at that time was to the downside and the MACD (12,26,9) was on the verge to kiss it's zero line. This is a very typical trade i usually take which i call fading the MACD zero line. Many breakouts occur when the MACD is approaching, kissing or even moving over it's zero line. If there is enough volatility, you can try as you did the breakout but you need to be prepared and accept a small lost while reversing your position to go in the direction of the current bias. In such a risky situation, i'd open a light position maybe 1 unit but be prepared to open an opposite position with 2 units hence closing the first one while resuming with the flow. If this second attempt should fail then i'd wait for the next opportunity. I would consider this scenario as a whole trade. In your situation, the whole trade would have worked. But you need to be prepared ahead of time for this type of trade management as you don't want to think about it while it happens. You need to think about it as a whole scenario that has been planned ahead of time.

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