Hello again,
Well: if I had a dime (not EVEN a dollar) for every time I MYSELF thought that all the 'missing pieces' had been found then this would be a purely 'academic conversation' and I, and quite a few other people, would be 'pretty well off' by now!!! LOL!!! That said: this simple little system appears (SO FAR) to be the most consistently profitable of ANYTHING I've tried so far so yes: keep wishing me luck!!! At this point I need every little bit of help I can get!!!
I must say though: that 'keep it simple stupid' ('KISS') saying really is 'the ticket' in this business I believe!!! I've always believe that the more complicated a system is: the better it would (should???) perform. Evidently I was wrong!!! I think that this is what attracted to me Wilder in the first place (well other than the fact that he is one of the 'originals' as it were). Only when I realised that a 12 period EMA (shifted) (Bill Williams' 'Alligator Jaw' / 'Balance Line') generated the identical signals as Wilder's ADX (and we ALL know the sheer complexity of the ADX calculations) did I start to think 'out of the Wilder box'!!! Even THEN, however, I was STILL moving between HUGE gains and HUGE losses and then started to think: there is no way that professional traders and the like would sit on a KAJILLION dollars of profit at 10h00 in the morning and then wait for that profit to turn in a KAJILLION x 2 dollars of losses!!! This has been my problem all along. Last year, when everything was going 'pear shaped' in the financial markets, it was not that difficult to be on the 'winning side' of a trend UNTIL those trends started to come to an end around October / November!!! THIS is when the 'boys' were seperated from the 'men'!!! Unfortuanately: I am (was???) still a 'boy'!!!
Anyway, the long and short of it all, really, is this: JUST ABOUT every single system I've traded has always turned to profits almost immediately (this very thread is littered with comments about this) but it's KEEPING those profits that counts!!! That, and risk management i.e. losing NOT A PENNY MORE than a certain percentage (be it 1%, 2%, or 5% or whatever your 'poison'). Calculate this BEFORE you open a trade you're 'good to go'. Take another look at some of Chuck Le Beau's work with ATR exits / stop placement and you should be 'well on your way'!!!
Take care and stay in touch (if, on the very odd occasion that I actually login to YM, I'll 'give you a shout')!!!
Regards,
Dale.
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