I have reached a level of pretty mediocre success, I am able to bring in around 100 a day, but still end up hitting a negative 200 day about once every 2 weeks, which means on average I get about 400 a week. Not anything great, but early on I suppose its all about preserving capital and making sure you dont break your trading account and have to start over from scratch.
The strategy I use for trading probably has tons of room for improvement.
so any advice that can be passed along to me will be appreciated.
I use a lot of indicators I found on this site, chiefly stuff from Fattails but also some stuff from the wizard.
So I put up two charts (I use two monitors) one for 4 range and 9 range, and I trade NQ
On these charts I tend to give the most weight to the indicator on the chart marked as ADXCMAforEmily28
generally when I see a short signal sent on the 9 range, I allow myself to take the short signal on the 4 Range when its sent. So one chart supports the other. When 9 range indicates a short I take a short on the next short signal received from 4 Range. vice versa for longs.
This however isn't flawless and I have bad days occasionally.
the other indicators on the chart are there for confirmation mainly of the ADXVMA.
How can I improve this set up, oh also I trade one contract typically with a 12 stop and 12 profit.
the areas that could be improved are the way i take signals, how to filter out bad indicators, maybe I need to change the trading strategy of 12 stop and 12 profit, maybe I need to trade two contracts at once which that is an option I just choose to trade safely with 1 contract.
I will attach some screen captures of my chart and the indicators I use.