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this is 30 MIN swing chart - we closed this trade today at 4:09 up @ 1409
we banked 16 points this week and all of it was today -
that makes 42 % gain in 5 weeks or 10,000 has increased to 14,200 .
the reason i flattened the trade was due to the fact it pressed up to the flat line again - we will start again very soon on this pattern -
we chose to use discretionary methods this week ,instead of trading every signal do to past experiance with flatlines -if we had traded every signal we would have added another 2 points to our weekly total .
:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
I just realized that I remember a successful trader saying that the market never goes anywhere really in August. It moves up and down but doesn't really make any progress in a single direction.
I think I just need to remember that because I think I was getting toasted earlier in the month on my spreads.
So I went back and re-did all my chart configs to try and get something that will work better for me. I'm using three charts, a weekly, a daily, and a 2h chart.
My thought process is that I want the weekly and daily to both be in the "bullish" state as far as the system goes. Then when the 2h breaks up into a bullish state, that is the entry signal.
One thing you have mentioned is something that had already moved a lot in a direction. I think you're referring to it being over extended and ready for a pullback of sorts. I think thats what you were referring to, please tell me if I'm wrong on that assumption.
So I was think about adding some sort of study that would allow me to see over bought and oversold situations so that even though the weekly and daily are in a "bullish" state in the system, they both may be very over bought and taking a long signal on the 2h could be a setup for a losing trade.
What do you think about that?
Here is my chart config now and I've commented on the chart as well to give you an idea how I would look at it if I was going to trade it as it is here.
WOW- i could not be any more impressed with your thought process in perfecting your trading stratigy --
well done
i agree with all your thoughts and your process -
i will give a charting segment sunday for the other stocks you are playing , using the same ma's ,we used on aapl -
after the aapl move after hours - we had no idea they were in a legal battle ,as our system is based purely on floating ma's - we check news briefs only only on a daily trading basis -
again very class act process and job -my hat is off to you
:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005