gary what's new with this? i am looking forward to your results and how you interpret them. sorry i can't help with pivot tables i am no good at excel but Velocity sounds like he does so hopefully he will decide to show us something.
"Let us be thankful for the fools. But for them the rest of us could not succeed." - Mark Twain
For longs, I look for higher highs and higher lows and enter on breaks above resistance. For shorts, I look for lower lows and and lower highs and enter on breaks below support. I watch several timeframes and align my entries on the lower timeframes with what's happening on the higher timeframes. I use minute charts and tick charts and watch day session and 24 hour session price action. I trade multiple units (testing 2 and 4) with the goal of hitting a profit target on the first unit in the short term. This suits my psychology and often allows for some profit taking on false breakouts or whipsaws. The goal for the second unit is to give winners an opportunity to run. The exit is discretionary and executed at some logical place (S/R, end of day, trailing stop, etc.). After the first target is hit or if I believe the trade is going nowhere, I move stops to breakeven or exit with a loss. My catastrophic stop (currently placed at a percentage of the account balance) is usually not hit unless I miss something, but it does get hit too often for me. Experience will help in this area.
Last edited by deltason; August 18th, 2009 at 12:53 PM.
Prior today, I always believed that the pot of gold layed with that one indicator I would eventually come across. There are many great strategies, indicators, scalping techniques, but not much discussion regarding money management. I will only say that if as much time and effort was put into money management as what everyone puts into indicator development there would be alot of very wealthy individuals on this board. How do I know???? Today would have been my best day ever had I been live. I am consistently profitable on a daily basis and have been for years. Today, the strategy I worked on, got me a quick pop (on 2 contracts) and then let my winners run on the final 2 contracts.
I am open to some suggestions, criticism, improvements or whatever else you might want to share with me. I will attach a chart with some of the trades, and Excel spreadsheet, ATM Strategy and Stop.
I believe this is an important thread....lets share some ideas and keep this thread active. I am convinced more then ever the pot of gold is right before us, most just fail to realize where this gold lies.
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