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alsi friday-19

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Super Contributor
is this a harami candle on the 15 min chart-11.30 and 11.45- time to go long using Simon system or do i stay short seeing that the 7 day is below the 21 MA
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Frequent Contributor
Be carefull with your shorts now, alsi seems to be bottoming out on shorter time scales.
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Valued Contributor
no idea what a harami is .. but I would only have gone short as 7 was below 21 so trend was down and I only ever trade in direction of trend ..
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Super Contributor
Simon where would your entry be for a long or short- and what profit target
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Not applicable
Today was a bad day. The enrty only came on the 15:45 candle. The trend was down (7 under 21 = short) thus you were looking for a red candle swallowing a green. 15:45 swallowed 15:30 lock-stock and two smoking barrels!
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Super Contributor
Very disappointing - hope for a better week coming, before Dec.
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Super Contributor
Snakepit -was that the the right time to go short. According to my understanding of Simon system there was no entry as the the canlesticks were all trading on the 7ma - a bit of consolidation and indecision perhaps.
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Not applicable
Simon's system and I think Asylum confirmed that these are simple non-complicated systems. Don't over analyze. Test yourself for one or two weeks. Don't trade at all. Just monitor the candles and try to call the entry candle. Today the entry candle for me was at 12:30. The 7 crashed through the 21 just after that candle in a downward spiral like a kamakazi plane shot down bringing all red candles into play. From there everything just bombed out and went red. I don't know what caused it. I don't know anything else. I don't know any other candles or trades. All I know is this one trade strategy and for the last 10 trading days, I think there have only been 3 days that I could not see an entry candle. I think we must call it the shark. It eats other candles and was created by a shark supporter-Simon! I did not trade on Friday. It just did not feel right that late in the day and on a Friday. After lunch you get in a relaxing mood so I did not trade that candle.
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Super Contributor
What's the exit strategy?
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Not applicable
50 point trailing stop (this you set when you enter the trade and forget - you could say that this is a trading strategy for the working man that can't keep an eye on the systems all the time) with one solid rule, 17:00 you exit, come hell or high water.
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Regular Contributor
Violent short was gap close...
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