traded yesterday, got beat up 3 trades -$265 after comm
well, the dmi adx i use, is history..why?? because i just wasnt using it.i was taking signals that were out of context with the market.3 stops in arow.look, i m tryin to get 6 ticks, and if i cant even get to 4 to get me safe, well, i think its clear.
realizing, that to catch this momentum, i need a trigger that i can rely on.macd.used it for so long, but, as is the case, with all the others, had to use it incorrectly, to realize the simplicity of its usefulness..
i use the 5min for a backdrop, and the CL is pretty good with sup/res/pivot points.the macd is really good at pointing out divergence, also
after doin a quick backtest, honestly, this might be the mostr simple strategy yet, and i like that
basically, base my entries on the macd cross of the zero line.this usually coincides with a 1,2,3 plot of my ross hook, which my good friend ray burke turned me onto.incidently, we dont need the ross hook (1,2,3) to plot, to take the trade.also, when price reaches a point that we expoect a turn, i look for this setup.also, when we have decent ranges, it works real nice too!
ok trade 1) you see the red line, that is my entry bs(buy stop)got a gift fill, you see the 1,2,3, plot. out +6
trade2)baaddd fill, should have flattened, -6 startin to chop a little here
trade 3)man, slow fill..still worked, +6 another good thing, is 3 ma over 14 ma for long, macd cross, and hist ogram getting larger
i feel good about this change..regardless, ill leave it for 2 weeks.i also got rid of the 40 ma.the only thing i might add is better vol, to see if it is helpful, but not to base trades
this is less stressful, because it is so simple to me
well, we lost $ for one thing, but still simulating, thank god!!
the trades earlier in the week, were garbage.if i put them up with the macd, most werent even trades.i realize , that to place so much emphasis on an indicator,, might turn some people off.however, for me, i need a trigger, and this is it.we will see in 2 weeks
i have my boys home today, kids are home sick today, got off this one, premarket,
i like the setup, macd gave great diverg on doub bottom..ross hook plotted, i allready had a buystop in .trade went 5 ticks, and stopped me out at +2, which is my stop loss strategy.only shooting for 6 ticks
i am very happy with this entry method..funny thing, is, i have used the macd for entries in the past, but , now , the difference is, i am putting the entries together differently.i feel they are stronger entries, as opposed to just a macd cross of the zero line.i use the 5 min, for trend, sup/res, then i look for a setup on 4 rng.pretty simple
Last edited by bobarian; April 4th, 2011 at 12:08 PM.
Reason: add pic
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real choppy today, found myself cancelling alot of orders
trade 1)didnt take, bad job, i had a sell stop , and cancelled.price doub topped off 2oo ma with a diverg on macd.i was lulled into doubt by the chop.bad job
trade 2)macd was iffy, i just pulled trigger too
early.the pullbacks are still dipping below 14 ma, even tho 3 ma is above 14, i would have been happier with the trade, if price didnt penetrate the 14.honestly, i should have passed on this trade alltogether, regardless of timing
things to work on
dont hesitate, trade 1 waqs pretty much everything i like to see.saying to myself " i just wasnt feeling it today" is bs ..if thats the case , walk away..
well, today was a chopfest, and chop is my mortal enemy.range days are ok, but the ranges need to be bigger, thatsd all.even tho i took a -8 stop, thats not going to kill me
today, seemed to be just choppin around, grindy
mushy lines on the macd
one thing i notice with the CL, is it tends to pay attention to sup/res pivots pretty well
realizing this, i find myself trying to be active when these pivots are hit
i guess that makes me a countertrend trader.hmmm..i worked very hard to change that in the past.my method is much more specific now, so i wont just do a comparison of one vs the other.anyway, one thing roger felton mentioned, in his webinar, rang true to me.at these pivots, volume tends to come inits as simple as that..vol gives volatility.my setup tends to work very well .one thing i keep telling myself is, dont get lulled into complacency when the market is grinding and slow. keep assessing the setups, and stay sharp.i only trade the CL 2 1/2 hours max..
also, focus..no tv, no laptop,no texting, and no chatroom until i have proven i can focus.typing on a keyboard taked my eyes off the screen,its as simple as that
trade1) price came down to sup on the 5 min, so i was prepared for a longi set my bs , and it was hit.sluggish reaction, which doesnt make me happy..the 14 ma held, and i had plenty of room to the 200ma.
focus was good today.
i seem to have finally come up with a way to logically and usefully use the 5 min.this helps, and , there are times, when i just wont fight it..smarter..if price takes off, they can have it
things to work on.
as always, focus,
i am realizing, that when price hits important pivots, that my setups arent always perfect, but the volatility tends to be there, and all im lookin for right now is 6 ticks
attitude..this is a biggie..i find myself just thinkin, man, is this gonna happen?my method seems very good, my focus gets better avery day..but, that cloud seems to try to push into my thoughts: "its been 2 years, im back to simming, and i really would like to just be at the next level allready." then, the voice of reason "yes, and so would alot of others...just remember, you didnt get your butt kicked these 2 years, and you learned so much, the consistency is definately better, just be patient"ok , im done talkin to myself for now
trade 2) pretty similar to trade 1, price came down to pivot on 5 min
big differnce tho, in the fact that the macd was far from crossing, and for that matter, never did...volatility was there tho, all those shorts covering, and like i said , only lookin for 6 ticks and all
Last edited by bobarian; April 7th, 2011 at 10:46 AM.
Reason: add trade 2
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got roasted pretty good today, the funny thing, is i didnt hate any of the trades, they all had room, to a logical pivot,
all 5 trades on CL
trade 1)typical macd cross, follow thru +6
2)got a short quicly after, had room to bot of channel, -7
3) with this long, i pulled the trigger early, however, the macd cross which ilike, i anticipated..i find , with the cl, if u wait, you miss....-7
4basically, took trade for same reason as trade 3, -7
5) )i liked this setupbut price came up and stopped me out , barely.basically, price came back tol 200 ma, and fell -8
good things about today
taking the signals, with little hesitation
things to work on
well, for the am, the trend was clearly down, but the longs i took had enough room
focus was ok today
i think today was just one of those days, where the follow thru wasnt going to happen.i do need to focus, as in the past, to the retracements to the 14 ma, when the 3ma and 14 ma are trending
the week.......... 9 trades
-18 ticks see below
-$225 after commiss
well, the cl really picked up, so i took 2 more,
trade 6]simple pullback to 14ma, short under candle +6
trade 7 ) passed on a valid , good setup..bad boy
trade 8)bounced off good support, threw the signal +6
7 trades,,,,,-12 ticks
-$155 after commiss
rev total for week
-$115 for week
Last edited by bobarian; April 8th, 2011 at 11:57 AM.
Reason: 2 more trades
got the kids home for 2 weeks.,, so ill do my best to trade
trade1)had a diverg doub bot at 200ma sup, entered upon 1,2.3 ross hook..too slow, bailed at be.doesnt matter that it worked , i made the choice
trade2)price had bottomed here previously.gave 1,2,3.........+6
trade 3)had room to the top of channel, got the 1,2,3, and my 5+2 stop gain activated.....+2
trade4)gave diverg doub bot at lod, 1,2,3, and 5+2 stop gain again.....+2
sooo many trades today, but just too distraccted with the boys
summarize..my entries feel like they are getting better, i try to gauge the chop, and stay out.realizing, that 1 stop at -8 gives me break even for the day, i can understand why some would question only going for +6 on each trade.its very simple, imo, for me, and my risk tolerance, with only 1 contract, if i cant get consistently get 6 ticks , i need to assess what i am looking at for entries.usually, my bad days, are because i take trades in chop, a typical mistake.ther foundation i am building, will hopefully instill the confidence i will need , to in the future, go to 2 , or evn 3 contracts.that will enable me to catch the runners,.for now, though, i only focus on the present, which is to be consistent with 1 contract....until i earn the right to trade 2.and for that matter, i need to go to cash first, which, i hope is in nea future.peace.
by the way, the webinar mike gave, was huge....stop changing charts and method...no method works every single day
look at the 4th pic, which is same as 1st.i think this will keep me out of some trouble.when the CL has a straight drop like that to a pivot, traders are not going to ignore this, .the 2nd trade was much cleaner, and, we should expect more from it.if it continues down, i still like the long, atleast for my 6 ticks
oops, the 4th chart(not there) actually replaced 1st chart
Last edited by bobarian; April 11th, 2011 at 06:18 PM.
took 9 trades today.im not going to post the pics for them.the cl was a beast today, i found myself getting pushed around, and wisely, took a break.
today 9 trades
8 cl...-9 ticks...-$90
1 6b...+8 ticks+$50
total........9 trades -$85
the pic i am posting, is somrthing that has been on my mind for so long...trading with the trend...i really want to cherry pick those counter trend entries, and focus on trend trades..look at the pic
oh, thanks Ray Burke, for pointing out the obvious once again
have the kids this week, trading has been limited
kind of a bummer, as i want to work on the method, and it feels pretty good
i still make some mistakes.worst of all...trading in chop
today, amazingly, i had 12 trades
1) missed original nice entry, my 5 +2 activated +2
2)nice sig off pb from 200, waqs missed..the trade i took was a pb to the 14 ma and tct overlap +6
3)nice macd cross,123 buy +6
4)nicer macd cross 123 +6
5)bad entry, it eventually fell, these aRE HARD TO TIME, trying to figure when a grind ends..i hate these -8
6)123 , i got impulsive, horrible fill, all the way down there got out lucky be
7)used market buy in chop zone ..ooyyy -8 at this point , i should have stopped thats 2 full stops in chop zone
8)price fell below chop zone, and rallied, 123 +6
9)another attempt to get the top, no need, i only want 6 ticks had 123 -7
10)diverg doub top..it worked , but i bailed -2, i fely like i was done at this point, having giving $back with crap trades +9 still, up $40 after commiss
11)real movement came in, with volmomentum and follow thru pos slip +8
12)123 short , with macd cross, fast..pos slip +8 im done
total +25 ticks
today i got burned by trading into a grind,..there were some good trades, some bad..atleast i perked up on 11 and 12 when market was good, in the past , i would be mentally out of it..this is when we get the follow thru
also, the reintroduction of the tct trendline.i used this forever.the idea, is to take the 123 ross hooks when in agreement with the tct trendline..this is a good filter, and i am happy with it, as taking every 123 will get me killed.in combination with the 5min, which i use for trend and pivots, i feel i am inching towards my goal.hopefully, next month , i can get some full weeks of trading in, so i can continue to practice, and gain confidence