All you need

October 6th, 2009, 01:50 PM

Notice the same set ups occur on a 5 minute chart.

October 6th, 2009, 03:38 PM

Nice fib fakeout on this one.

To be honest, I've never been a big fib fan. I guess price often does retrace 61.8% but I believe it's not because of some magical ratio but rather everyone has the fib levels on their charts.

October 7th, 2009, 09:25 AM

Jeff Castille

I consider the 7-11 more of a scalp in that it did not include a runner. I've been using a +10 target lately, with a 15 point stop. But this is still a work in progress. (YM)

Did you check out the excel spreadsheet that cunparis posted? If not I would highly recommend it as it will give you a long term prospective of what daily consistency will do for you. I believe that the best trades in the indexes occur at certain times of day. Note these times and focus on these set ups.

A R/R that is greater than 1:1 is ok as long as your winning percentage is high enough to justify it.

I think you are on the right path.....keep it up.

Do you have a daily "tilt" number in your plan? It is as important as your daily goal.

Jeff

My daily tilt is 3 losing trades.

October 7th, 2009, 11:17 PM

Notice the time that trades set up in the indexes. This happens almost everyday. Even though today was a consolidation day and therefore very much a ranging market trades set up on the half hour as usual. These are the times that I look for trades to set up.

October 8th, 2009, 11:17 PM

I have developed a dot indicator that I would like to share with the VIP members in the Elite Circle. So....if you like the way they look....then join the VIP members and they are yours. Hope you like 'em.

Jeff

October 8th, 2009, 11:41 PM

Hi Jeff,
One more great chart, but how can we plot sound alert??

Take Care
Mark

October 9th, 2009, 10:51 AM

here you go

October 9th, 2009, 10:52 AM

Jeff you are making it tooooo easy. Thanks for all the work on and for sharing the dots they work pretty well. Weird how sometimes one little visual thing can bring order to chaos.... or give you that extra confirmation.

a set up with slower "dots"

A setup with faster "dots". Any sling shot/wave traders...? Once you set up the dots with the right slingshot then you just take the retracements when you get a colored dot the same as the slingshot... nice

October 9th, 2009, 11:29 AM

here is the es chart.im not trading it though
I have added the GU chart to show how im dealing with chop, Look a the support and resistancelines

October 10th, 2009, 09:26 AM

websouth

Jeff you are making it tooooo easy. Thanks for all the work on and for sharing the dots they work pretty well. Weird how sometimes one little visual thing can bring order to chaos.... or give you that extra confirmation.

a set up with slower "dots"

A setup with faster "dots". Any sling shot/wave traders...? Once you set up the dots with the right slingshot then you just take the retracements when you get a colored dot the same as the slingshot... nice

What settings are you using with this faster chart? Thanks

All you need

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All you need