Yes Alinghy, I came across the Atlas Line thread first and read the other one this afternoon. I visited the vendor's website trying to find out more about the Atlas indicator, eg is it based on Price or what? Watched a few v-clips and did not get a better understanding on the indicator.
Well, I have it on a separate 5-minute chart for an intial assessment .. nothing serious unless and until it proves itself LOL! No worries .. I won't consider paying a dime to the vendor for its course or software. I spent already too much on vendors/financial advisors and will stay away from them a thousand miles .. haha ..
Beth (Oh, please continue to be my eyes and ears .. Thank you! )
ES Sim Trade Result on 8 April 2010: -$10 after commission
This morning has been extremely busy with non-trading things. Finally did 1 sim trade and got out BE (detailed trade recap/log per enclosed). You will see that I have a new strategy running today (thanks to a friend's generous sharing of her SuperTrend strategy). From her, I also visited Frostbyte's SuperTrend thread as follows:
I'm glad to be exposed to different trading approach .. smile ..
Goals Accomplished Today:
1. No over-trade. Well, I was a little frustrated that I missed the earlier short (which was a great one) then a long when I needed to take care of my lovely hubby's business items. My comfort was the SuperTrend strategy caught the short. It's still in the trade after 2 hours trying to get a 3-point PT.
2. Preserve Precious Capital: The only 2-contract trade I did went the opposite direction after "touching" my 3-tick PT. I was able to get out BE after getting a little bit of heat.
Just learned that Atlas Line is an open range breakout indicator (strategy) and needs 20 minutes to determine the range. I adjusted the Atlas Line indicator to start at 9:30 am (instead of 9:20 am). It does trigger a long this morning and it's a profitable one - correction to my trade recap .. sorry ..
Trade based on SuperTrend - Why having a big SL cushion?
For newbie me, I first did not understand why having a big SL cushion (such as 40-50 ticks)?!!
I believe my friend Ann won't mind my sharing her tips with me so that if you don't know (like me) will better understand the logic behind:
Frosbyte's method is to catch a swing move. Right after the open, market would make a turn before trending. And Frostbyte let Super Trend enter the trade setup between 9:40 AM - 10AM. If price goes against his trade, with large stop loss, price has room to retrace to his entry area and he'll get out with not much loss. 40- 50 ticks Stop Loss is an emergency. He migt end up losing less than 2 or 3 points in a trade, but he will ride the good swing of 10+ points.
Enclosed is today's short trade triggered by a SuperTrend strategy. Just has its predetermined 5-point SL got hit. Well, one has opportunities to close it with a profit or a smaller loss. Actually I manually went through 30 days historical data based on a SuperTrend method. Having a bigger SL cushion has its merits.
I saw you images attached and in the second one i.e. I could say that accordingly with the WDH standard suggestions you are in a up-trend so it could be useful not performing a short entry (@175,25) but better, awaiting for the next HL (Higher Low) then evaluating seriously a Long entry .
I dont want to teach you something but just draw your attention and focalize on a usual
Market behaviour ... this is not a fixed rule but often happens very often !