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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Retail investors were slaughtered during
A question about systems. Does anyone know or recommend a ...
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.