Hello Charles, I just wanted to say thank you for the thread and the trading room. I've already attended a few of them. I actually got > 50 ticks yesterday morning. Even though it was on simulator, it was the best I've ever seen daytrading wise. I think the trading room is ultimately valuable in learning to wait for good setups even if takes 3 hours. That's a psychological factor I still need a lot of work on before entering a trigger order and not waiting. And no revenge trading.
Anyways, most paid rooms are disguised as ad rooms for over-expensive indicators that don't work, or don't fully show a real working method, or don't explain all the nuances including psychological conditioning necessary to succeed. Most trading educational materials out there are 97% bunk. And those that are substantial may cost an arm and a leg. So just my sincere appreciation and thanks for the work you're doing here in training others, and at no cost.
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Thanks for the video update summaries. Just a suggestion. If it's not too much trouble, maybe you could include a time-edited portion of the live trading session showing the time during a successful trade. That way, a live trade using your method could be seen in action. Just would be nice to see for those who haven't been to the live room, or just a live recap.
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As usual, enjoyed watching the "Master Trader" succesfully pull money out of the markets this Friday.
I have been finding the macdbb a bit challenging to evalute during the pre-trade setup. I Like the rsqueeze for its simplicity at a glance, although sometimes I get distracted by the Stochey overlay.
So, I found this indicator that integrates the Macd-BB's and the rsqueeze with additional visual enhancements for quick eval at a glance, with a little change of the settings!
Here is a shot of how I used it on Friday to avoid the first losing trade that Charles pointed out and how it worked on the second trade that did work out.
The first losing trade that Charles did not take,(Red up arrow & ellipse on the indicator-377 chart) notice I did have a yellow dot on the indicator alerting me to zero line cross of the BB's, however the rsqueeze portion of the indicator was still showing negative momentum
The first winning trade that Charles did take(royal blue up arrow &ellipse) I had yellew dot alert of zero line cross of BB's BUT rsqueeze momentum was still down, also my Donchain middle channel line was not visible.(dot style)
A few minutes later I did take this same trade (royal blue triangle and ellipse) when my donchain middle channel
line(DOT) appeared below the entry bar, On the indicator the BB's zero line alert dot appeared AND MOMENTUM on the rsqeeze portion was no longer negative, of course there was a close above a spinning top
Last edited by bobbyacim; August 14th, 2011 at 11:34 PM.