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The Italian Job
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Created: by redratsal Attachments:31

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The Italian Job

  #111 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
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Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
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Posts: 1,653 since Oct 2010
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trendisyourfriend View Post
redratsal,

Good day, i see you show some Fibonacci levels on your chart but you don't seem to be using them, am i correct in my perception ?

I use them, most of the time, as an exit rule

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  #112 (permalink)
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Another trade with 6E 5 contracts, exit on the S + 437 USD

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  #113 (permalink)
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This is my recap of the day, I am done
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  #114 (permalink)
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Green Bay WI
 
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Love your new head pounding nail avatar.

I'm curious if you have ever looked into Larry Connors swing trading. He scales in 3 to 5 times on a close of the day basis, when the RSI(2) is below 20? Exiting above 80. A reversion to the mean startegy to swing 3 or 4 days. He had a daytrade version, but I did not take that course. I found I did not like holding overnite. I've tried scaling in on a daily basis, and your explanation helps me understand what I was doing wrong. I'm sticking with the trend as much as possible now, but thank you for the thread.

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  #115 (permalink)
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rpm123 View Post
Love your new head pounding nail avatar.

I'm curious if you have ever looked into Larry Connors swing trading. He scales in 3 to 5 times on a close of the day basis, when the RSI(2) is below 20? Exiting above 80. A reversion to the mean startegy to swing 3 or 4 days. He had a daytrade version, but I did not take that course. I found I did not like holding overnite. I've tried scaling in on a daily basis, and your explanation helps me understand what I was doing wrong. I'm sticking with the trend as much as possible now, but thank you for the thread.

Thanks rpm123, I will look at Larry Connors' trading. My intraday scaling is kind of a replica of my swing trading but with different instruments and timing. I don't like holding overnite neither, I would like to discuss later a trend following method with similar rules, I assume that if you can manage counter trends than going with the trend is much easier.

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  #116 (permalink)
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My first trade with 2 CL contracts, target on the S + 221 USD

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  #117 (permalink)
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My second trade with 6E 1 contract and target on the S +213 USD
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  #118 (permalink)
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Change of Plan

Sometimes things are not going as planned, in this case I had 6 contracts shorts on CL, the PA never reached the target at R, new buyers were coming in (see TL on GomCD) and I decided to close the trade in advance avoiding a loss as the market went up afterwards. + 144 USD

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  #119 (permalink)
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redratsal View Post
..., I would like to discuss later a trend following method with similar rules, I assume that if you can manage counter trends than going with the trend is much easier.

I think so too. Using a pyramiding progressive scheme should theoretically be less risky and more profitable if you are following the trend than if you go counter-trend. Also, you can get some profit early in your campaign of trades following the trend which should be less stressfull.

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  #120 (permalink)
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trendisyourfriend View Post
I think so too. Using a pyramiding progressive scheme should theoretically be less risky and more profitable if you are following the trend than if you go counter-trend. Also, you can get some profit early in your campaign of trades following the trend which should be less stressfull.

Stress, as far as I am concerned, is related on how confident I am with the method, it' also a question of habits and subjectiveness, the level of stress you can handle might change from day to day according to external factors as well. With regards to trend following strategies they occur less often and therefore you don't want to miss the opportunity, you need to be ahead of market, whereas in counter trends the action already occured, it's rather a question of timing. You can combine both methods but you would end up over trading, and normally it is not a good practice. Generally speaking we can call the methods with any fancy name we wish, bottom line it's always a question of bid and ask that we buy and sell at the right price and at the right time.

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