1st Trade: Aggressive 3LB for 6 tix. Move went 17tix before 10tix retracement for trading mult. contracts.
Aggressive due to a Red 50MA. Felt good about the Price Action. Again, my call on the trade. The strong
angle of the 15MA wasn't bad either. 3LineIndicator was favoring the trade long as well.
This is where the Discretionary judgments are made...
2nd Trade: This is a strat I'm working on above and beyond the core 4 listed above. The 5th setup is
a 3 Bar Stall towards the 15MA [RGR] - Red/Green/Red
...also fired off a Blue Strategy Diamond that will be part of an Auto Strategy setup from RTL coming soon...
2 trades, $120 - $10comm = $110
Need to make $75 for my 20day Combine profit objective of $1500.
Not greedy and stopping for the day!!
Cheers...
Mike Sullivan
The following 6 users say Thank You to msull35706 for this post:
Nice trading Mike. I like how even though there are clear cut rules for the actual trade setups that there is still a discretionary element as to whether you take those trades or not based on price action. Not just a red light green light system.
Don't hold your breath on the NT platform being avail.
Trade simple and use the T4 Platform.
Not too bad and stable....
Don't let that stop you from pursuing a funded account.
Mike this is just my 2 cents here so please take it for what it is worth :-)
I am sure you have some trading experience under your belt which is what lead you to take that 1st trade. But considering you are new to the RLT method and indicators, it may be best served to leave some of your other entries for later in the game until you have gotten a solid handle on when to take the 100% system entries. Adding a bunch of different entries to a system sometimes tends to confuse things and may cloud your judgement when a normal system trade comes up. Not to mention it makes it harder to track your stats when you start tossing some other things in the mix.
In all of my years of experience the one thing I have learned and fully believe in is to learn your systems entries really really well and then after you have built a consistent track record look to add another to your tool belt. RLT already has 4 standard entries which is plenty enough to make a healthy profit from the market ;-)
So again please like I said take it for what it is worth, just trying to impart a little tip that has proven helpful for me and may for you as well.
Cheers,
Jester
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Thx so much for your input!!!
You hit t right on the head!
This is what it's all about.. Traders helping traders.
Leave egos to the curb and offer sound advice.
I took some later trades that failed....
But you learn from your worse trading days.
I will regroup and get back on the horse and move forward
Many thanks
Mike Sullivan
The following 4 users say Thank You to msull35706 for this post:
