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SimonPB
Valued Contributor
runbird, for sure - but ouch that's a hard way to earn a living or make a profit? further, if we're talking short term - in the last 24 hours the top40 has added some 300 points odd.
But my point is one I have made before (albeit better then I have today). People tend to have an overall bias as to where they think the market is (should be) going. This bias can be based on absolutely anything and everything and I am not saying that the bias is wrong (one can paint a very convincing bearish picture for world markets and others a bullish picture and only one can be right?). BUT this assumes that markets are logical, which they are not. So as a trader (regardless of tiem frame we trade in) one needs to toss the bias aside, reduce the amount of info we take in and simple trade the price - nothing more and nothing less. My trading profits went up some 4 fold when I started just using moving averages to time entries - everything else I ignored as noise and just responded to price and its relationship to the MA. So turn off the TV, ditch the newspaper, switch off the PC and once a day download EOD data and check the price - and then respond accordingly. This then leaves time for living ???
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Runbird
Contributor
Well put, Simon, and I have to agree. I am trading the price, but doing it intraday and you're right, time for living seems to go out the window... Initially I lost a lot of money, but have been doing well recently and what I am trying to do now is to accumulate some more trading funds and then get into longer term trades using EOD.
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SimonPB
Valued Contributor
ya an in theory a trading system that works can be put to any time frame from minute charts to monthly charts with the ony difference being the speed required for entry. Certainly lazy trading made me stax more money then hectic trading.
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peekay
Frequent Contributor
So, Simon, you only use MA? So you say that TA and Fundamentals are for the birds? Only noise?
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SimonPB
Valued Contributor
in short term trading fundamentals add no value as it looks to far forward and anyways we can't know how the market will respond. TA is fine, but I decided I really like simple hence MA only, even my full TA system only uses trend lines & fib. But still the MA system out performs it. Now this may be because the MA system is fully mechanical, in that I make no decisions - I just do as it says?
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DCTrader
Super Contributor
And that is when you get crossovers using the 45 day and a shorter period like 9 day MA? So you basically a fan of MACD?
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SimonPB
Valued Contributor
yes I do like macd, but my system has 6 EMA's on the longer trend and then just one on the short, so a little different.
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DCTrader
Super Contributor
How you show more than 2 MA's on a single graph? Which periods you use?
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SimonPB
Valued Contributor
you can't on this site. I use MM X-Ec. Primary trend is EMA30, 35, 40, 45, 50, 60 and this determines primary trend. Short term trend is EMA15 and when price line crosses up through (AND primary is also up), then buy if the next EOD is green. So I get teh signal at night and then check confirmation at 4.30 and if it is confirming by being green I go long. Of course reverse for shorts and DISCLAIEMR. This sytem has not tarded through a full cycle and as such is still BETA. I cover it more in my traqding skilsl course.
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peekay
Frequent Contributor
Do you have a typing skills course as well? Only joking, thank you for your valued contributions
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liquid
Contributor
Simon, trading skills course? When is your next course + how do I register? Is it the advanced SB TA course (I'm already registered for the May josie course)? You've spoken abourt your EMA entry, what do you employ as an exit strtegy? Also - what is your position sizing strategy here? What is the expectancy of the system expressed as a factor of the initial risk? What is the stop? Are you a fan of fixed stops - like a 10% or 15% stop of the position or do you look at the average true range at all?
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Wizard
Super Contributor
All the data is good today
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peekay
Frequent Contributor
Just a stupid question: A 15 day MA, is that based on 15 TRADING days, or CALENDER days?
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kr_pto
Super Contributor
Am busy reading Trading in the Zone by Mark Douglas. Recommend it for all to get your heads right. Bit phsyco babble-ish, but that is the point, that a lot of what makes us fail or succeed is in our attitudes and our minds.
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SimonPB
Valued Contributor
Trading in the zone = best trading book. Sure is phsyco babble, but trading is 90% psychology.

15 day = 15 trading days so 3 weeks.

liquid, on the menu under help and education under face to face look for The Truths of the Market and Trading Skills course - we start again in late April. Exit; initially trailing stop of 20% on warrant/wave and then when that reaches entry point I use a lower low on the EOD index (but will always enter at entry point after trailing has matched). Position size is currently a small wad as it is in beta, but ignoring that full trade size unless the 6 primary EMA's become knotted then 50% trade size. Fixed stop, not with trading, always trailing. ATR - nope.
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DCTrader
Super Contributor
Busy reading Trading in the Zone at the moment... Tempted to put it down after the first 3 chapters cos of all the psycho babble circle talking... But I guess I must just push through. He seems to struggle to get his point across and then rambles on and on... but maybe he's just trying to drive home the message?
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liquid
Contributor
DC I've read it 3 times already and there is always something new that I didn't pick up from the previous read that suddenly snaps into place and becomes a "a-ha" moment. Changing your beliefs and perceptions about money and the markets takes some time and doing. Go aheas and finish it, it's worth it!
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YNWA
Super Contributor
Hiya Liquid.....DC like the man said 3+ times....then backwards, you know how the church thought if you played the rolling stones music backwards it had a hidden devil message.
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liquid
Contributor
yeah maybe the hidden order of the market universe suddenly appears - we could write a book of our own similar to the "bible code" or newly released "egypt code". people are always trying to look for the deeper meaning in things while ignoring what is right in front of their eyes...
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YNWA
Super Contributor
yep, you right....& somebody always seems to be making the moolah out of all this "insight" ....in the end its all about k.i.s.s.....keep it simple stupid....pretty much like Simons tarding strategy.
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