JETS - Chart Link - triggered last week
over the doji, by the system you would have stayed in because your
initial stop goes at the low of the doji's on those, anyway tagging
9 EMA
this one from Mar 17th right? okay so you would have stopped out
on the opening of the next day, then triggered again, and made that
up. You do the trade again if it sets up, that's how trading
is
When Steve and I did those market webinar's years ago showing
symmetry and some triggers off dojis - there were multiple times
you might have triggered in a case, then stopped out, and you then
triggered later after a second one. that's life
listen man trading is tough, and very very emotional especially
in this environment, trust me I've made every mistake in the book,
we all have.
I posted those examples not to bug you, it's more for others and
all of us really. That specific type of reversion to mean trades
MUST be traded very methodically for it to work in the long run,
that meas a well defined doji on the daily, and 60 min MACD
divergence, if you don't have the 60 min MACD divergence you
ignore. Trigger on the daily is 1 penny above the doji high, stop
is 1 penny below the doji low, which you have to adhere to. I take
50% off at the 5 EMA then more off at the 9 EMA. If I'm
stopped out I will do the setup again even on the same stock if the
setup appears again. The rules on these type of trades have
to be followed to a tee since they are not typically big running
trades, mostly bounce back to the 9 EMA's. Most will work out
but you will the occasional stop out or two but if the rules are
followed to a tee the stats will work out in the long run
I thought I had a webpage on these, I have one on ES futures
though, basically the same thing really, don't bother focusing on
the MACD BB indicator, can't use that on STockcharts
here's an example of the CCI reversion to mean setup trade EQT,
you stop out on the original, then it sets up and you do it
again
and sometimes you get multiple setups that don't trigger but you
keep watching and one finally goes like this second one
and hopefully most of time hey are easy like MIK and DATK one
and done
trading is like that not just on these type of setups, but you
might draw a trendline or a pattern, trigger and get stopped out,
then re draw the pattern after it fleshes out and you try a second
trigger after you've re dawn it and get a trigger
anyway it sucks, crap like that happens from time to time,
JETS ETF follow up target hit
Posted by matt on 24th of Mar 2020 at 10:44 am
JETS - Chart Link - triggered last week over the doji, by the system you would have stayed in because your initial stop goes at the low of the doji's on those, anyway tagging 9 EMA
TRUE, but original entry on
Posted by retirefire on 24th of Mar 2020 at 10:51 am
TRUE, but original entry on doji above was a loss.
this one from Mar 17th
Posted by matt on 24th of Mar 2020 at 11:01 am
this one from Mar 17th right? okay so you would have stopped out on the opening of the next day, then triggered again, and made that up. You do the trade again if it sets up, that's how trading is
When Steve and I did those market webinar's years ago showing symmetry and some triggers off dojis - there were multiple times you might have triggered in a case, then stopped out, and you then triggered later after a second one. that's life
for sure, thanks for explaining.
Posted by retirefire on 24th of Mar 2020 at 11:10 am
for sure, thanks for explaining. My 1st year mulligan. I think I got caught in the mrkt gap down and let it ride below the stop. MY ERROR.
listen man trading is tough,
Posted by matt on 24th of Mar 2020 at 11:19 am
listen man trading is tough, and very very emotional especially in this environment, trust me I've made every mistake in the book, we all have.
I posted those examples not to bug you, it's more for others and all of us really. That specific type of reversion to mean trades MUST be traded very methodically for it to work in the long run, that meas a well defined doji on the daily, and 60 min MACD divergence, if you don't have the 60 min MACD divergence you ignore. Trigger on the daily is 1 penny above the doji high, stop is 1 penny below the doji low, which you have to adhere to. I take 50% off at the 5 EMA then more off at the 9 EMA. If I'm stopped out I will do the setup again even on the same stock if the setup appears again. The rules on these type of trades have to be followed to a tee since they are not typically big running trades, mostly bounce back to the 9 EMA's. Most will work out but you will the occasional stop out or two but if the rules are followed to a tee the stats will work out in the long run
I thought I had a webpage on these, I have one on ES futures though, basically the same thing really, don't bother focusing on the MACD BB indicator, can't use that on STockcharts
https://breakpointtrades.com/education/legacy/?nl_id=3285
Thanks, I never considered the
Posted by retirefire on 24th of Mar 2020 at 11:25 am
Thanks, I never considered the post was to bug me but help.
here's an example of the
Posted by matt on 24th of Mar 2020 at 11:08 am
here's an example of the CCI reversion to mean setup trade EQT, you stop out on the original, then it sets up and you do it again
and sometimes you get multiple setups that don't trigger but you keep watching and one finally goes like this second one
and hopefully most of time hey are easy like MIK and DATK one and done
trading is like that not just on these type of setups, but you might draw a trendline or a pattern, trigger and get stopped out, then re draw the pattern after it fleshes out and you try a second trigger after you've re dawn it and get a trigger
anyway it sucks, crap like that happens from time to time,
ah yes you are correct
Posted by morton7 on 24th of Mar 2020 at 11:06 am
ah yes you are correct but I still held (shame on me) so still have a loss....thx
nice call matt, i had
Posted by morton7 on 24th of Mar 2020 at 10:48 am
nice call matt, i had a sliver of inv, so thanks.