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What is it they say about making sausage..... you wouldn't eat it if you saw how they made it. Well..... I afraid that's how today was. It ain't pretty. However,....... a green day is a green day. Up $205 trading a 2 lot. Terrible choppy day. Lack of disciple.... not even following my own signals.... making stuff up..... using the reversal button several times, over trading. You name it I did it. But like they say about airplane landings......any landing you can walk away from is a good one.
I think this is just a tough time of year to trade. After Labor Day will be better I think.
I finished the morning with +$41. I was doing it seriously. I did the last 90 minutes on sim (morning was sim too) and there was so much chop I decided to play around. I finished -$877!!!! Just goes to show the importance of avoiding chop. and if you want to trade chop, do it on sim.
Yeah I love the simplicity of the system. I pulled everything off my charts and I just move around s/r lines to set up the trades. The only thing I added back on was OnBalanceVolume to confirm the breakouts. I've been using it on 6J, 6E, 6B and CL on 150 tick charts.
Do we buy/sell a pullback without seeing evidence that the trend is resuming? ( Or are we waiting for the bus to start leaving the station before we decide to get on..... or does this leave too much money on the table?)
If we wait to "jump on the bus once we see it's definately leaving the station" do we run the risk of being too late and running out of gas before we reach our destination? (target)
Can we assess trend strength and therefore increase the probability that our trade will reach our objective? (market breadth, ticks, ADX)
These are questions that I am trying to answer for my self and would be interested to hear what you have found to be true in your trading.