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Thanks for sharing. I noticed that you are using range charts as opposed to time charts and that makes a huge difference with data. Have you looked at both and decided on range charts? I use a 5 min chart and the market has been completely sideways all morning until about 10:55 where I took a short for +10 +20. It maybe a good idea for me to look at both. What is your take on that idea?
I ran out of patience on time charts about a year ago. I get why they are used but honestly, range charts make so much more sense to me. I can "sense" the rhythm of the market better than with time charts. IF I was to go back to time charts it would be a 1 minute chart. But unless someone can show me in a way my simple mind can understand why I should go back to time charts, I doubt I ever will. My biggest problem on time charts was I never understood where to enter. The exits were no problem but the entries eluded me...still does.
However, if your set up works on time charts, don't change just because I got some winners on a range chart today. Tomorrow it could be a different story altogether.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
No, no, my interest is purely for trade capabilities. Like I had mentioned, I had no setups until close to 11:00 AM which is 1 1/2 hrs after market opened this morning. I know this may sound like I'm inpatient but if most of the day ends up that way I would maybe rather look at a range chart. Just something for me to consider, not a must do or anything to that extent.
One thing I plan to do once I have a complete and final trading plan is to take note of my trades as they happen, marking on the journal which was the MFE until it hit my stop level or entry level.....this way u can collect data to have statistical evidence in the future of the potential of the trades you actually took.
Of course u can do this with more rules, like trailing your stop, etc which will add complexity but with some month of data I guess u can take nice conclusions if u need to modify your targets.
Tough day for my system with lots of signals but no follow through. 9 Trades total, net +13 ticks. I saw a couple of trades set up that ended up being real good signals but I was positive for the day after having been back and forth a few times and decided to end the day with a win and not take any chances.
Instead, I chose to treat those trades as my "practice trades" for my new challenge and of course those trades were the really nice ones. No regrets though. I made money on a hard to trade morning even though I was stopped out 5 out of 9 times. I did tighten my stop up on two of the trades. These were both hit for less than the max loss. I then checked to see if the normal stop would have been hit and the answer was yes. Since I was trading in a narrow range at that point, tightening up was not a bad thing.
My four winners were +10, +20, +10, +20 and the stops were -10 or less. So managed to end the morning profitable.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
I use microsoft one note for my journal and I also keep my spreadsheets there as well. It keeps saying there were files not syncing. And today, my trade tracking spreadsheet just disappeared. It has months of work on it and I cannot find it anywhere. Does anyone have any idea of how to get it back? Its not in the recycle bin, there is an older copy of it in my documents but all the changes I've made to it since July are gone.
I am really desperate here as I cannot recreate it.
Any ideas???????????? I am thinking of restarting in safe mode. would that work?
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris