A question about systems. Does anyone know or recommend a good
site where a decent system can be bought or a more active trading
site? I use spy pro but am looking for something similar to the es
system.
Posted by stevieb294 on 30th of Jan 2018 at 09:51 am
Why would you think the ES system takes different/more signals
than the SPY pro? The ES is merely a derivative of the SPX as is
the SPY, so their signals would not be all that different. And I
can tell you by trading both that that is true from experience as
well. If it is merely leverage you are looking for, then trade the
SPY Pro system using the ES. Just M.O.
With all my enormous respect to Matt and Steve, this is a
technical analysis site and hardly a trading site. Matt and Steve
should provide trading suggestions to ride established trends from
the initial entry to an exit point for the audience they want to
focus on. There is no focus here, there is no specific audience in
question. They gear this information for daytraders, which excludes
pretty much everybody except for very few. I cannot day trade
myself as I have a day job.
One could look for something one likes on
insidefutures.com, for example.
There are too many services who want to tout their subscription
without much benefit to the subscribers. Trading systems are
expensive, they start from about $200 per month. If you are willing
to have something that works well, you should be willing to pay
that amount of money. For the amount that BPT charges -- about $50
a month -- one cannot get much except technical analysis or trading
recommendations for a single instrument such as ES.
I have had success with systems based on COT data, which is
based on fundamentals. Fundamentals are different from technicals,
and neither one alone is enough. Good luck to you!
One site that I consult on on long-term picture is
armstrongeconomics.com. But
that site is geared for institutional traders, and their fees are
really steep. But that's a real deal. Their service for investors
is $15/month, and that is based on monthly charts. Still one could
get a good picture. And that site does not have a trading system,
but the information on it will keep you on the right side of
market.
Posted by caddpro123 on 30th of Jan 2018 at 09:53 am
I have to humbly disagree that this is not a trading site (for
retail investors) or that there is no focus. Starting with their
very informative and consistent News Letters, which culminate with
their Weekend General Market and Commodities letters they manage
quite nicely to cover both the overall market as well as focusing
in on specific sectors as market conditions warrant. I was an
active day trader from 1997-2001. I made a fair piece of
change, and lost almost as much. If I had had the benefit of
the information and insight that is offered by Break Point Trades
today, I almost certainly would have retired a wealthy man. And
that is no exaggeration.
I am in fact retired now and focus primarily on precious metals.
To date, I have found no service offering better insight on
this market than Matt and Steve. I have been with them for years
and now focus primarily on swing trading. As a result, I have
made relatively small but consistent profits almost every year.
Breakpoint uses COT as part of their analysis on a routine basis.
They also consider outside forces on the market(s), again on a
routine basis. To suggest that all they offer is "technical
analysis" simply isn't the case. Are they infallible?
No. But they make no such claims.
I get the impression you are still searching for "the system" to
end all systems. I don't believe there will ever be one
"system" that can encompass all the variable in the markets and
make money consistently. Frankly, anyone that is touting they
have such a system to sell is a liar. If such a system where
in the possession of an individual or institution, common sense and
plain old fashioned greed tells us it would never see the
light of day. But for those willing to take the time and do
their daily due diligence, Breakpoint does a great job of providing
a sold foundation to make money. While they cannot possibly
be expected to provide daily in depth coverage of every market,
industry, equity and player on wall street. they do a fantastic job
of highlighting potential money makers, up to and including
specific recommendations. And if you like "systems" theirs has had
a pretty good track record and it holds your hand pretty much from
start to finish. And for the record: what they charge a year
considering what they offer, is a true bargain.......
This is a trading site which combines technical analysis and
trading. Why the member took it upon himself to say "this is hardly
a trading site" is beyond me. Matt and Steve give the big picture
and always say members should trade according to their own
objectives. Someone that day trades can get valuable info from here
as well as someone who only trades on a sporadic basis, so to
say this site is only geared to day traders couldn't be more
wrong.
I have used many different services many costing far more than
this site and very few have given the wealth of info and big
picture Matt and Steve do. I have also subscribed to
Armstrongeconomics and found it to be virtually worthless. Lots of
long rambling newsletters which never get that specific. On many
occasions Armstrong would backtrack and switch his recommendations,
maybe it works for some but not for me.
They have said repeatedly in recent newsletters that
commodities should outperform the market this year. Just
concentrate on that area if you are a longer term trader.
The site not only called the bottom in gdx about two year ago,
but also said it would likely pull back and form a IHS on monthly.
So far that is playing out perfectly.
Retail investors were slaughtered during 2008-2009 period. I
lost over $40K in 2008. Well, this year volatility will pick up on
both sides and these retail folks will be slaughtered again.
Positions must be managed well, and I personally need definite
guidance on important levels. Otherwise, trading is not profitable.
Yes, this site is not for me for this reason. I have only 3 hours
after work for everything to live, and the last thing I wwant to do
is to draw my own chart. Farewell.
Posted by stevieb294 on 30th of Jan 2018 at 09:38 am
If you lost only 40 K in 2008, consider yourself lucky vs. the
ordinary buy and hold "investor."
Not sure how you are using this site, but there are plenty of
swing trade opportunities here, too. You just need to do your own
work as well. You can't be a serious trader and expect somebody to
lead you by the hand.
Sorry, I am busy at work. And I lost $40K, which was all I had
at the time. I lost everything and did not have money to trade for
3 years afterwards. There are so many people who are in the same
position as myself.
It is very ironic that Matt has developed so many trading
systems which beats everything I have seen on ES, yet this site is
not about trading futures. Indexes are only one 5th of what is out
there. Currencies, metals, bonds, agriculture, softs are others.
There are fantastic swing opportunities on those, if one looks
ahead. I mean no ill to Matt or Steve, but they do not provide with
a forward insight. I get very little from being told what has
already happened, and what I can see on the chart myself. Sorry,
perhaps it is just me who is weird this way.
Posted by bpozdoll on 30th of Jan 2018 at 12:29 pm
Aragon, dropping $40k is very painful. I've had some
large losses in the past as well. But count your blessings.
You've stumbled on a site with 90% winners with the SPY
system. Be patient and wait for the trades. Then take them.
Trust me you will see the results. Try that for a year
(SPY trades only) and see where you land up. Don't try the
other trades. This will give you confidence in the
system/site and then you can branch out. It's what I've done.
Good luck.
Posted by stevieb294 on 30th of Jan 2018 at 12:09 pm
And as you can see from Matt's posts alone, there are a mind
boggling number of ways to look at/trade the markets. As for
blowing out your account, I am not with tradeit007, that "it
saddens me." Some of the greatest traders of all time have blown
out their accounts along the way - it doesn't mean you can't
succeed. I never have, but Jessee Livermore - one of the all
time greats, did it a few times, as did many in the Market Wizard
interviews. You just need to work, work, work to find a STYLE
that works for you, and not think you can buy a "system' that
solves all your problems.
aragon - trading futures is something that one has to define,
for example I have quasi day trade systems however they are just
not for 99% of the people. You have to sit here and look at
the charts intently for hrs, it takes a lot of concentration and
focus and is not something most people will do. I've thought
about many times starting a real time chat room where I show my
charts and call out trades in real time and it's something I still
want to try my hand at one day, but honestly I just don't have the
time right now. I have so many irons in the fire, I can't even keep
up with my emails, and my wife already bitches that she wish many
times her husband had a normal job so that he could spend more time
with the family, I'm always working. One of my goals is to get some
balance this year vs 100% work all the time. But as most of
the awesome members here have replied back to you, our value is not
so much telling you when to enter and exit but giving you the tools
to do it on your own, figure out your own systems with the tools we
teach. like these Renko and Range bar charts I've been
posting, I put out a vdieo on the technique that I use and I plan
to make other videos. Heck a lot of sites would charge you
for those. But again for day trading there's so many
techniques, you have to personally experiment with what you fits
you. Maybe the Range bars fit your style, maybe renko, or
maybe you find that you like trading a combination of a 1 min
and a 5 min chart, or maybe you like trading a 60 min chart, you
have to experiment.
Otherwise regarding the other daily systems which have been flat
for a bit, as you know I'm always working on stuff, I'm always
adapting, trying to bring new thins to the table. I've even
stated earlier that I would like to bring a basket of ETF's like
not just SPY but QQQ, IWM, DIA etc. That combination would
provide more trades.
Anyway you also have to define what you want. Calling out
intra day ES trades can not work for email notifications and for
folks who work, which is the majority here. The majority here
are not day traders, that's why daily systems are focused on.
Intra day trades are only suitable for chat rooms etc, which
I already described above.
anyway I suggest you to focus, calm the emotion a bit.
It's funny but the thing I've noticed that tends to get
people the most emotional is impatience and and feeling like
they are missing trades. I find that people are much less
concerned with managing risk and more concerned about missing a
trade.
did you buy any SQQQ yesterday? I thought that looked decent.
Today at the lows there was some nice intra day divergence, did
you buy ES? You can see the divergence with the tools we use?
Again you have plenty of tools at your disposal, take time
and try to put something together that fits your style. I can
give feedback and help you with questions.
Trading is also one of the toughest things to manage.
PS. Matt, in my humble opinion you want to cover too much
territory but shallowly. Automated systems can do better than
humans most of the time. I cannot beat your ES system, for example.
I would stick with indexes, bonds and perhaps precious metals and
do that thoroughly, if I were you. Individual stocks are a much
larger beast, and a lot more risky when volatility picks up. IMO. I
wish you well and thanks for your excellent work, Matt!
I took a long on GC (your system no 3, LE ST took a long
yesterday), but I am out of that trade now. Profit target of 2.90
is not good enough, and that's all I could get to achieve by
optimizing your settings.
I am getting a trend trade entry on wheat and corn today.
FWIW.
One thing I will be experimenting this year with is custom time
sessions. Right now the ES and SPY systems are of course
daily systems, SPY confirms trades at 4 pm EST, while ES confirms
trades at 5 pm. In Tradestation I can make custom time
sessions using a 1440 min chart, there are 1440 minutes in a day
therefore a 1440 min chart is basically the dame as a daily chart.
However with a 1440 min chart, I can create custom time
sessions. For example here's the ES exhaustion short, on a
normal daily bar it didn't trigger, however if I set a custom
session to close at 12:30 notice that the system would have entered
an exahuastion short last Friday, nice trade. Same thing for
SPY system, it would have shorted, whereas the standard time close
system would have missed.
I've also experimented with some intra day time frames like 2hr
views: here's an example where the breakout system would have
caught 3 nice trades in Jan on a 2hr time frame however the daily
missed it.
So again there's a LOT for me to experiment with this year that
could provide us with more opportunity and more trades, be patient
please, try to keep your emotion at bay
That would be a great addition, Matt! Gold, silver, bonds close
at 2:40pm and not at 5pm.
I have managed to optimize some of the your long systems for GC,
for example. I will share the settings when I have finished all of
them. GC trends like nothing else, it should be the easiest market
to trade with proper entry points. Your system logic works well on
GC with optimizations.
ES system is flat. Matt's ES systems are reversion to the mean.
For trending markets different systems are used.
Btw, I am getting a long entry on GC today for a trend-trade
reversion to the mean system. Swing systems that I know of, are
long GC above 1327. For a discretionary trade, one should be short.
My account is flat on GC, waiting for a higher low. FWIW.
Posted by tradeit007 on 30th of Jan 2018 at 10:34 am
It always saddens me to hear of reports like yours where
trader has busted out. We have all been there in our own
personal circumstance. However, I have to say that if you lost it
all WHILE subscribing to this website you should not be trading at
all. This site will not tell you what to do, but they will
provide you with valuable information you will need to make your
own informed decision on what to buy and when, and what to sell and
when. I now trade for a living and it has taken me 30 years to get
to this place. I can tell you that there is no better service that
you can subscribe to - NONE. These guys do more hard work than any
service I know, and I have tried most of them. Prove to yourself
that the information they provide has value. I challenge you to do
nothing but track their trade ideas for one month. Follow them.
Categorize their ideas: bullish, bearish, pennants, breakouts,
penny stocks, big boys, commodities. Why not even track Matt vs
Steve within these categories? Do some research. Find out for
yourself how good or how bad they are.
What I value the most is the shear number of charts they
provide. These guys are the best. Best of luck to you. Be humble.
Be smart.
Posted by stevieb294 on 30th of Jan 2018 at 10:18 am
Just my opinion: but you need to either learn to trade in a
style consistent with your personality and your time limitations.
(It took my 20 years to find this and I lost a lot more than 40K.)
Or pay somebody to do it for you.
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A question about systems. Does
Posted by torvix on 30th of Jan 2018 at 02:34 am
A question about systems. Does anyone know or recommend a good site where a decent system can be bought or a more active trading site? I use spy pro but am looking for something similar to the es system.
Why would you think the
Posted by stevieb294 on 30th of Jan 2018 at 09:51 am
Why would you think the ES system takes different/more signals than the SPY pro? The ES is merely a derivative of the SPX as is the SPY, so their signals would not be all that different. And I can tell you by trading both that that is true from experience as well. If it is merely leverage you are looking for, then trade the SPY Pro system using the ES. Just M.O.
The es system is daily
Posted by torvix on 30th of Jan 2018 at 12:19 pm
The es system is daily and long and short. Also I understand it trades off the 60 min timeframe.
On the accounts of trading (my own work) I lost 570k through trading in total. Tragic.
Matt's 60-minute systems on ES
Posted by aragon on 30th of Jan 2018 at 12:33 pm
Matt's 60-minute systems on ES were not profitable. Stick with daily systems.
I am sorry for your huge loss.
Just to clarify some comments
Posted by steve on 30th of Jan 2018 at 01:06 pm
Just to clarify some comments below, Torvix losses had nothing to do with any of our systems.
Yes it was devastating. I
Posted by torvix on 30th of Jan 2018 at 12:46 pm
Yes it was devastating. I only want to use unemotional systems now.
ES trades 23 hours versus
Posted by aragon on 30th of Jan 2018 at 09:57 am
ES trades 23 hours versus GDX that trades only 7.5. Most of the gains occur out of hours.
I review trades between 5 and 6pm, and enter at 6pm. This works for me. Doing it before 4pm could get me fired from my job. Sorry, that is real.
With all my enormous respect
Posted by aragon on 30th of Jan 2018 at 08:50 am
With all my enormous respect to Matt and Steve, this is a technical analysis site and hardly a trading site. Matt and Steve should provide trading suggestions to ride established trends from the initial entry to an exit point for the audience they want to focus on. There is no focus here, there is no specific audience in question. They gear this information for daytraders, which excludes pretty much everybody except for very few. I cannot day trade myself as I have a day job.
One could look for something one likes on insidefutures.com, for example. There are too many services who want to tout their subscription without much benefit to the subscribers. Trading systems are expensive, they start from about $200 per month. If you are willing to have something that works well, you should be willing to pay that amount of money. For the amount that BPT charges -- about $50 a month -- one cannot get much except technical analysis or trading recommendations for a single instrument such as ES.
I have had success with systems based on COT data, which is based on fundamentals. Fundamentals are different from technicals, and neither one alone is enough. Good luck to you!
One site that I consult on on long-term picture is armstrongeconomics.com. But that site is geared for institutional traders, and their fees are really steep. But that's a real deal. Their service for investors is $15/month, and that is based on monthly charts. Still one could get a good picture. And that site does not have a trading system, but the information on it will keep you on the right side of market.
I have to humbly disagree
Posted by caddpro123 on 30th of Jan 2018 at 09:53 am
I have to humbly disagree that this is not a trading site (for retail investors) or that there is no focus. Starting with their very informative and consistent News Letters, which culminate with their Weekend General Market and Commodities letters they manage quite nicely to cover both the overall market as well as focusing in on specific sectors as market conditions warrant. I was an active day trader from 1997-2001. I made a fair piece of change, and lost almost as much. If I had had the benefit of the information and insight that is offered by Break Point Trades today, I almost certainly would have retired a wealthy man. And that is no exaggeration.
I am in fact retired now and focus primarily on precious metals. To date, I have found no service offering better insight on this market than Matt and Steve. I have been with them for years and now focus primarily on swing trading. As a result, I have made relatively small but consistent profits almost every year. Breakpoint uses COT as part of their analysis on a routine basis. They also consider outside forces on the market(s), again on a routine basis. To suggest that all they offer is "technical analysis" simply isn't the case. Are they infallible? No. But they make no such claims.
I get the impression you are still searching for "the system" to end all systems. I don't believe there will ever be one "system" that can encompass all the variable in the markets and make money consistently. Frankly, anyone that is touting they have such a system to sell is a liar. If such a system where in the possession of an individual or institution, common sense and plain old fashioned greed tells us it would never see the light of day. But for those willing to take the time and do their daily due diligence, Breakpoint does a great job of providing a sold foundation to make money. While they cannot possibly be expected to provide daily in depth coverage of every market, industry, equity and player on wall street. they do a fantastic job of highlighting potential money makers, up to and including specific recommendations. And if you like "systems" theirs has had a pretty good track record and it holds your hand pretty much from start to finish. And for the record: what they charge a year considering what they offer, is a true bargain.......
This is a trading site
Posted by victorh on 30th of Jan 2018 at 09:17 am
This is a trading site which combines technical analysis and trading. Why the member took it upon himself to say "this is hardly a trading site" is beyond me. Matt and Steve give the big picture and always say members should trade according to their own objectives. Someone that day trades can get valuable info from here as well as someone who only trades on a sporadic basis, so to say this site is only geared to day traders couldn't be more wrong.
I have used many different services many costing far more than this site and very few have given the wealth of info and big picture Matt and Steve do. I have also subscribed to Armstrongeconomics and found it to be virtually worthless. Lots of long rambling newsletters which never get that specific. On many occasions Armstrong would backtrack and switch his recommendations, maybe it works for some but not for me.
They have said repeatedly in
Posted by oatdust on 30th of Jan 2018 at 09:39 am
They have said repeatedly in recent newsletters that commodities should outperform the market this year. Just concentrate on that area if you are a longer term trader.
The site not only called the bottom in gdx about two year ago, but also said it would likely pull back and form a IHS on monthly. So far that is playing out perfectly.
That insite alone is worth the subscription.
I agree . The only
Posted by ducati on 30th of Jan 2018 at 09:07 am
I agree . The only reason I subscribe is for the charting. This site mostly benefits day traders
Retail investors were slaughtered during
Posted by aragon on 30th of Jan 2018 at 09:15 am
Retail investors were slaughtered during 2008-2009 period. I lost over $40K in 2008. Well, this year volatility will pick up on both sides and these retail folks will be slaughtered again. Positions must be managed well, and I personally need definite guidance on important levels. Otherwise, trading is not profitable. Yes, this site is not for me for this reason. I have only 3 hours after work for everything to live, and the last thing I wwant to do is to draw my own chart. Farewell.
If you lost only 40
Posted by stevieb294 on 30th of Jan 2018 at 09:38 am
If you lost only 40 K in 2008, consider yourself lucky vs. the ordinary buy and hold "investor."
Not sure how you are using this site, but there are plenty of swing trade opportunities here, too. You just need to do your own work as well. You can't be a serious trader and expect somebody to lead you by the hand.
Sorry, I am busy at
Posted by aragon on 30th of Jan 2018 at 10:03 am
Sorry, I am busy at work. And I lost $40K, which was all I had at the time. I lost everything and did not have money to trade for 3 years afterwards. There are so many people who are in the same position as myself.
It is very ironic that Matt has developed so many trading systems which beats everything I have seen on ES, yet this site is not about trading futures. Indexes are only one 5th of what is out there. Currencies, metals, bonds, agriculture, softs are others. There are fantastic swing opportunities on those, if one looks ahead. I mean no ill to Matt or Steve, but they do not provide with a forward insight. I get very little from being told what has already happened, and what I can see on the chart myself. Sorry, perhaps it is just me who is weird this way.
Aragon, dropping $40k is very
Posted by bpozdoll on 30th of Jan 2018 at 12:29 pm
Aragon, dropping $40k is very painful. I've had some large losses in the past as well. But count your blessings. You've stumbled on a site with 90% winners with the SPY system. Be patient and wait for the trades. Then take them. Trust me you will see the results. Try that for a year (SPY trades only) and see where you land up. Don't try the other trades. This will give you confidence in the system/site and then you can branch out. It's what I've done. Good luck.
And as you can see
Posted by stevieb294 on 30th of Jan 2018 at 12:09 pm
And as you can see from Matt's posts alone, there are a mind boggling number of ways to look at/trade the markets. As for blowing out your account, I am not with tradeit007, that "it saddens me." Some of the greatest traders of all time have blown out their accounts along the way - it doesn't mean you can't succeed. I never have, but Jessee Livermore - one of the all time greats, did it a few times, as did many in the Market Wizard interviews. You just need to work, work, work to find a STYLE that works for you, and not think you can buy a "system' that solves all your problems.
aragon - trading futures is
Posted by matt on 30th of Jan 2018 at 11:20 am
aragon - trading futures is something that one has to define, for example I have quasi day trade systems however they are just not for 99% of the people. You have to sit here and look at the charts intently for hrs, it takes a lot of concentration and focus and is not something most people will do. I've thought about many times starting a real time chat room where I show my charts and call out trades in real time and it's something I still want to try my hand at one day, but honestly I just don't have the time right now. I have so many irons in the fire, I can't even keep up with my emails, and my wife already bitches that she wish many times her husband had a normal job so that he could spend more time with the family, I'm always working. One of my goals is to get some balance this year vs 100% work all the time. But as most of the awesome members here have replied back to you, our value is not so much telling you when to enter and exit but giving you the tools to do it on your own, figure out your own systems with the tools we teach. like these Renko and Range bar charts I've been posting, I put out a vdieo on the technique that I use and I plan to make other videos. Heck a lot of sites would charge you for those. But again for day trading there's so many techniques, you have to personally experiment with what you fits you. Maybe the Range bars fit your style, maybe renko, or maybe you find that you like trading a combination of a 1 min and a 5 min chart, or maybe you like trading a 60 min chart, you have to experiment.
Otherwise regarding the other daily systems which have been flat for a bit, as you know I'm always working on stuff, I'm always adapting, trying to bring new thins to the table. I've even stated earlier that I would like to bring a basket of ETF's like not just SPY but QQQ, IWM, DIA etc. That combination would provide more trades.
Anyway you also have to define what you want. Calling out intra day ES trades can not work for email notifications and for folks who work, which is the majority here. The majority here are not day traders, that's why daily systems are focused on. Intra day trades are only suitable for chat rooms etc, which I already described above.
anyway I suggest you to focus, calm the emotion a bit. It's funny but the thing I've noticed that tends to get people the most emotional is impatience and and feeling like they are missing trades. I find that people are much less concerned with managing risk and more concerned about missing a trade.
did you buy any SQQQ yesterday? I thought that looked decent.
Today at the lows there was some nice intra day divergence, did you buy ES? You can see the divergence with the tools we use? Again you have plenty of tools at your disposal, take time and try to put something together that fits your style. I can give feedback and help you with questions.
Trading is also one of the toughest things to manage.
PS. Matt, in my humble
Posted by aragon on 30th of Jan 2018 at 12:45 pm
PS. Matt, in my humble opinion you want to cover too much territory but shallowly. Automated systems can do better than humans most of the time. I cannot beat your ES system, for example. I would stick with indexes, bonds and perhaps precious metals and do that thoroughly, if I were you. Individual stocks are a much larger beast, and a lot more risky when volatility picks up. IMO. I wish you well and thanks for your excellent work, Matt!
Matt, to answer your questions: re:
Posted by aragon on 30th of Jan 2018 at 12:30 pm
Matt, to answer your questions:
re: SQQQ. No, I would rather short TF. Shorts have not worked at all for a long time. so no trade.
re: ES. I had a buy target of 2830 but no idea for the stop, so I did not take the trade. https://www.insidefutures.com/article/2117340/It%20is%20going%20to%20be%20a%20busy%20week%20in%20the%20ES%20and%20ZB%20futures.htmlgave some numbers for support and resistance.
I took a long on GC (your system no 3, LE ST took a long yesterday), but I am out of that trade now. Profit target of 2.90 is not good enough, and that's all I could get to achieve by optimizing your settings.
I am getting a trend trade entry on wheat and corn today. FWIW.
One thing I will be
Posted by matt on 30th of Jan 2018 at 11:36 am
One thing I will be experimenting this year with is custom time sessions. Right now the ES and SPY systems are of course daily systems, SPY confirms trades at 4 pm EST, while ES confirms trades at 5 pm. In Tradestation I can make custom time sessions using a 1440 min chart, there are 1440 minutes in a day therefore a 1440 min chart is basically the dame as a daily chart. However with a 1440 min chart, I can create custom time sessions. For example here's the ES exhaustion short, on a normal daily bar it didn't trigger, however if I set a custom session to close at 12:30 notice that the system would have entered an exahuastion short last Friday, nice trade. Same thing for SPY system, it would have shorted, whereas the standard time close system would have missed.
I've also experimented with some intra day time frames like 2hr views: here's an example where the breakout system would have caught 3 nice trades in Jan on a 2hr time frame however the daily missed it.
So again there's a LOT for me to experiment with this year that could provide us with more opportunity and more trades, be patient please, try to keep your emotion at bay
That would be a great
Posted by aragon on 30th of Jan 2018 at 12:13 pm
That would be a great addition, Matt! Gold, silver, bonds close at 2:40pm and not at 5pm.
I have managed to optimize some of the your long systems for GC, for example. I will share the settings when I have finished all of them. GC trends like nothing else, it should be the easiest market to trade with proper entry points. Your system logic works well on GC with optimizations.
Is es long or short
Posted by torvix on 30th of Jan 2018 at 12:06 pm
Is es long or short here?
ES system is flat. Matt's
Posted by aragon on 30th of Jan 2018 at 12:19 pm
ES system is flat. Matt's ES systems are reversion to the mean. For trending markets different systems are used.
Btw, I am getting a long entry on GC today for a trend-trade reversion to the mean system. Swing systems that I know of, are long GC above 1327. For a discretionary trade, one should be short. My account is flat on GC, waiting for a higher low. FWIW.
It always saddens me to
Posted by tradeit007 on 30th of Jan 2018 at 10:34 am
It always saddens me to hear of reports like yours where trader has busted out. We have all been there in our own personal circumstance. However, I have to say that if you lost it all WHILE subscribing to this website you should not be trading at all. This site will not tell you what to do, but they will provide you with valuable information you will need to make your own informed decision on what to buy and when, and what to sell and when. I now trade for a living and it has taken me 30 years to get to this place. I can tell you that there is no better service that you can subscribe to - NONE. These guys do more hard work than any service I know, and I have tried most of them. Prove to yourself that the information they provide has value. I challenge you to do nothing but track their trade ideas for one month. Follow them. Categorize their ideas: bullish, bearish, pennants, breakouts, penny stocks, big boys, commodities. Why not even track Matt vs Steve within these categories? Do some research. Find out for yourself how good or how bad they are.
What I value the most is the shear number of charts they provide. These guys are the best. Best of luck to you. Be humble. Be smart.
amen to that
Posted by pep8261 on 30th of Jan 2018 at 10:52 am
amen to that
Just my opinion: but you
Posted by stevieb294 on 30th of Jan 2018 at 10:18 am
Just my opinion: but you need to either learn to trade in a style consistent with your personality and your time limitations. (It took my 20 years to find this and I lost a lot more than 40K.) Or pay somebody to do it for you.