Platform: Sierra Charts, Investor RT, Ninja Trader
Favorite Futures: NQ
Posts: 527 since Sep 2009
Thanks: 586 given,
I commend you. Keep your priorities in proper order. Don't even think about the market. Figure out a way to improve the cookie recipe. Your mind will enjoy the break from trading and the new challenge. The markets are not going any where and will be waiting for you.
The following user says Thank You to papa15 for this post:
PASwing Indicator with ABC Pattern - Available Now!
Believe you've started enjoying a Relaxing weekend (some will have a Longer one as next Monday is an American/Canadian holiday). Dorschden (creator of the Price Action Swing Discussion thread) just released an updated indicator with the ABC pattern which some of you have expressed interest before. Here it comes his post with the download details:
My wife is working on her trading plan and I said something to her very similar to this. I'm glad my thinking is consistent with yours. I want her rules based on a solid foundation. But my point to her is that I don't care right now whether her rules are exactly what she will use later. But I want them precise and understandable to a novice reader. Also, I don't want too many rules right now. I want a set of rules that are so clear she can execute without fail 100% of the time without arbitration, speculation, hesitation, or confusion. Then we slowly add to that. Slowly
Good luck Beth
The following user says Thank You to AR01 for this post:
Time flies and it's the last day of the break. Just got a reminder from N "when do I cushion the quality hours between him and me" ooooo
I realize months (over a year actually) have been spent on finding indicators/systems .. Yet not many hours on training myself so that I am capable of overcoming the "In the Trade" dilemma. Another challenge is the risk level. I appreciate very much Big Mike's recent post listing different scenarios and how one may adjust his/her trading to accommodate his/her unique situation.
I'm taking a break from discretionary trading as I know I'm not ready esp mentally and financially. For the interim, I am going to re-visit swing trading on certain automated systems (about 70% profitable based on 1-1.5 years historical performance). For example, I came across some on AIG and Natural Gas ETF (all trades close EOD) and some on BIDU and GDX (most trades average 5-10 days) + reviewing my own strategies which I sim-ran (a few did generate 80-100 ticks/month).
My plan is to have one on live in the very near future while exploring the swing trading option. Occasional losing ones are inevitable and having one on will help my acceptance of this important trading rule. As I get used to have mostly winning (ideally) and occasional losing auto-trades, I will be in a better psyche condition to do manual trades.
Another area for improvement: learn the basics esp how to read price action. I like the Price Action thread and unfortunately have not been reading the posts in more details. Will spend more time going through the posts again. Using minimal indicators is the goal and I would like to create a simple trading system.
I will be back irregularly to keep you posted of any further development. My heartfelt thanks again to all of you for your generous sharing and guidance! XOXO are flying your way to express our gratitude (incl Nelson's).
Happy & Successful Trading Always.
Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
The following 6 users say Thank You to wgreenie for this post:
Thanks for sharing your projects , I think time off is a great teacher , you will figure out many things that looked fuzzy to you before , enjoy your husband and take time to experiment your cookie recipe until you master it , market is here and will go nowhere ...
relax and have fun , will miss reading you
"Risk more than others think safe.
Dream more than others think practical.
Expect more than others think possible.
Care more than others think wise"
The following user says Thank You to soumi71 for this post:
Time flies and almost end of the week. I notice many swing systems (incl day trading ones) have been using certain types of MAs to detect the trend direction and/or reversal. I had the Sling Shot indicator for months (believe it's from the All You Need thread by Jeff) and didn't really understand its function. Then I tripped over a video on the same (can't find the link now .. sorry) and a Sling Shot strategy created by Roonius. If you're a strategy or Sling Shot fan, you may want to play with the strategy as follows: