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Anybody trade a 5 minute chart with limited indicators?
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Anybody trade a 5 minute chart with limited indicators?

  #1 (permalink)
Elite Member
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Anybody trade a 5 minute chart with limited indicators?

I am still looking for a trading journal from somebody who trades the 5 minute chart with limited to no indicators.

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Market Wizard
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that would be https://futures.io/trading-journals/12454-pandawarrior-chronicles-67.html the 'middle' year.

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Yes, I feel that I should try to answer this question, as I think this is an excellent question.

We traders think this "buy a little higher and sell a little lower" or "buy a little lower and sell a little higher" we traders think this should be possible. Maybe it is?

I have not been able to do it. I can make good money on SIM, and then I can make good money live with 2 or 3 contracts, but when I try going to a larger size, boom goes my brain, I can not even remember my own name.

Moo Trader is a member here. He struggles with trading just like you and me. I believe he is completely honest and totally transparent.

He trades a 5 minute chart on the NQ's with no indicators.



https://www.youtube.com/watch?v=rY8oL9wAIt4&feature=plcp

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donzi View Post
Yes, I feel that I should try to answer this question, as I think this is an excellent question.

We traders think this "buy a little higher and sell a little lower" or "buy a little lower and sell a little higher" we traders think this should be possible. Maybe it is?

I have not been able to do it. I can make good money on SIM, and then I can make good money live with 2 or 3 contracts, but when I try going to a larger size, boom goes my brain, I can not even remember my own name.

Moo Trader is a member here. He struggles with trading just like you and me. I believe he is completely honest and totally transparent.

He trades a 5 minute chart on the NQ's with no indicators.



https://www.youtube.com/watch?v=rY8oL9wAIt4&feature=plcp



Thanks Bro!

I will take some time tonight to watch some of his action and try t figure out his methodology.
posting my thought process in my Journal I find very beneficial.
I look forward to reading it a year from now to see where I was in my career.
I am also posting as though I am teaching someone my own methodology. this helps me to properly decipher my own thought process. They say ( you know the Thems) (LOL) if you want to find out if you know what the heck your talking about.... try to explain it to someone else.
Dont get me wrong... I don't think I have arrived to a point of teaching. my journal is for ME.
The other benefit is my mentor will able to see what I am doing and offer some help.
I also like that it keeps me busy while I am waiting for a trade to set up.

Do you have a public trading Journal?

If you always do what you have always done you will always get what you have always gotten.
Celebrate because you executed your edge. Not because you won.
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I'm still trading basically the same way as I was then, just on a smaller time frame to help reduce risk a bit. It is more noisy to be sure but thats ok. I like the faster action.

At that time I was also experimenting with scaling in vs scaling out. It didn't go to well if I remember right. However, at the current moment, I am working on only scaling into winners. I start small and work up to my max size if I can. It has been a bit different because I am forced to manage the trade a bit more aggressively in terms of looking for new entry points as well as monitoring potential exit points. Instead of having 3 exits staged at 20-40-60 ticks as an example, I have 1-3 stops staged which I then consolidate if I want to or just leave alone to allow me to exit the trade in stages or to lighten risk. I also have stretched my targets out to a minimum of 100 ticks per entry. This means I have 3 larger size targets out there hoping to get hit. Most of the time however, I move those targets in toward more obvious price action targets and end up scaling out as well as in. Overall its been interesting as it has required an entirely new mindset toward trading. Its one I think will benefit me more in the long run but it has also helped me clarify a few issues on all in all out scalping as well. So if I ever feel like scalping for a few ticks here and there, I think I would be better at it than I was before.

My next step will be to eliminate the moving average completely. Not quite there yet.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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Looky Lou

I think I might just take a look to see If I can figure out what your Methodology was.

As for the MA:
For me... it is essential to see just how far off of it we have gone. I am watching that distance along with the size of candles. as well as S/R impending.
If I get a big run, I know its near reversal or heading sideways if I see that I am running a huge volume spike,Oversized candle, Into a 60 min line or other area of balance.

So I use the MA more as a peripheral on big runs.

If you always do what you have always done you will always get what you have always gotten.
Celebrate because you executed your edge. Not because you won.
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  #8 (permalink)
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Patrick S View Post
I think I might just take a look to see If I can figure out what your Methodology was.

As for the MA:
For me... it is essential to see just how far off of it we have gone. I am watching that distance along with the size of candles. as well as S/R impending.
If I get a big run, I know its near reversal or heading sideways if I see that I am running a huge volume spike,Oversized candle, Into a 60 min line or other area of balance.

So I use the MA more as a peripheral on big runs.

if you want, send me a PM and we can schedule some time to talk via skype/screenshare. I'll walk you though a typical day. The way I trade is pretty simple and only takes a few minutes to explain.

The main thing I think you'll need to get a handle on is risk. Virtually any old method will work if you have your mind right and you have a sound money management strategy.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #9 (permalink)
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I am ok

Not sure if you thought I was looking for help or I just percieved your message wrong.

I appreciate the offer and I am honored you would take some one on one time with me.
Maybe over the Holiday we can schedule a meeting? I will send you a PM.

But Really I am ok with my progress. I am not looking for help from anyone. I was just looking for a person who traded a similar methodology as me. someone I could bounce ideas with.

have a great weekend! I plan to practice for 2 hours, Get my boy out of bed b4 he turns on his Xbox - I am going to take him for breakfast. Turn the rotors on the front of my truck and teach the boy how to change brake pads.

If you always do what you have always done you will always get what you have always gotten.
Celebrate because you executed your edge. Not because you won.
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