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
listen man trading is tough,
JETS ETF follow up target hit
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.