Alright…I have been thinking about this over the last week also and I know were you are coming from…People might think I am crazy but I can’t wait until we start going back up and have a long up move…I am excited to put my plan to the test when all the big boys are doing is buy, buy, buy…but all I will be doing is looking for sell, sell, sell…I want to see how well I can do in this kind of an environment because i know this will be the true test with this system…I mean seriously anyone could sell during London Open on these kind of moves and just hold and make money…the market is dropping like a rock which makes this system extremely easy to use…again the true test will be when the market reverses and we start going the other way…
TalonD, please be patient with me and I will have some screenshots for you to look at on how we could use my rules in reverse to have captured some good buy signals and profited on the other side of the trades…This weekend I am going to be backtesting this from 4/30/2012 until today’s date…So check back probably on Sunday to see the results…I will be trying to do this as precisely as I can with being true to the trades if I got stopped out or if I would of made money…It’s going to be kind of hindsight, but this is the only way to pull examples out and learn from them…
Looks like I ran out of time this weekend, been very busy so I never got around to back testing…
TalonD, one thing I have picked up from this trading if we are against the trend the Key levels ICT posts on his daily reviews come in really handy and against the trend I find that if you stick to these levels it will provide you a bounce of around 20 to 30 pips to get a good trade on…if you apply them with time and price theory…Keep checking back I will have some example for you and will explain them in as great of detail as I can.
glad to see you still in the game and with a plan. All I can say is stick with it. Only looking for shorts can make money even when the market is going up. You will also lose trades by shorting when markets are going down. Its not perfect but it does help keep your mind set in the game. Best of trading to you
Sorry for the late reply…I have not had time to keep up with this thread as of late because of my work schedule.
Everything should be back to normal soon and I will resume this thread…
I have been trading tho, but I have switch gears briefly to longs, using my same preflight checklist but in reverse. After hours and hours, days and days of studying my plan I have started to become custom to it and I’m starting to see how it works. I am excited to get back in the swing of things and start trading this plan with weekly trade updates.
Hey Piphanger, hope your’e still trading and things are going well. I saw this trade on the Fiber today and thought of you.
It seems to meet all your criteria and at the moment you would have got to first profit and moved your stop to break even, hopefully it will go lower and you would have been able to get some more pips by LC.
Here is my analysis of the trade.
Its Thursday (one of the days you are allowed to trade)
At a key level, 1.2150
Over bought on the Williams %R
Judas Swing up into the key resistence
It was Asian range low and above
It was above central pivot point
For your entry i would have used the last swing for an OTE on a 15 min chart.
The chart below has the Fib drawn, and the blue line represents the judas. The red line shows the key level.
hope this is a good example of a trade that follows your trading plan, hope to hear of your progress soon.
Very nice and simple looking system. Cool for a newb like me I hope you keep up with it, because I really like what I’ve seen here so far and would love to see it working out for you longer term.
I hope you keep up with it, because I really like what I’ve seen here so far and would love to see it working out for you longer term.