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unclemike

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Everything posted by unclemike

  1. unclemike
    Well very interesting here... I have been teaching all my life and you need to find a fit between your coach/mentor and yourself. I have just started posting to my blog the Live Results of trading 1 contract as that is what most beginners can trade and even with that, they are over leveraged in most cases. It is difficult to make a living trading 1 contract but one must crawl before walking. I do not take on every trader who wishes to be in my program and in the end it is what the trader learns and applies and is accoutable to him/herself that is the key. I agree with comments here that many "Educators" are just BS'ing and want to grab your money and run leaving you the trader no better off than when you started. On the other hand I find that most traders who want to learn, do not want to hear the Cold Hard Facts and are drawn to the BS and pie in the sky promises or illustions noted by many providers of indicators, systems, programs ect. I can tell you from years of experience that many traders who I have spoken with do not want to hear it when I say that they Can Not make a living with an account of $2500 but there are many other providers who will imply they can so they gravitate and pay them instead of listening to me. I tell them that they should trade in SIM, find a coach who will help them understand the REAL facts of trading even if it is not what they want to hear. They can certaintly learn to trade, build their account and become successful traders but it can be a hard road. Hope this helps a bit Uncle Mike
  2. unclemike
    It is imperative to not get shaken out of a market when you are in a draw down. You need not follow blindly forever, and may need to back test again. There have been many traders that have had a good trading system and were well-funded still loss due to lack of trading discipline. You need to practice discipline and staying power when in a draw down. This is difficult emotionally for most traders. What happens is a trader will start trading a system after they watch it go up and make a lot of money. The problem is that all modes of trading will pull back after going up. Many will second guess their trading and pull out of the markets after seeing draw down. While it may be ok to second guess, if you do second guess, do not abandoned the system, go back to back testing to see if it is still relevant or if there are other issues that emerge as better traders in the current market. Here is a breakout trade from 2 days ago.... Yours in Trading, Uncle Mike
  3. unclemike
    In addition to having both a good trading strategy and being adequately capitalized to trade you must have the discipline to follow your system in good times and bad. Most new traders or inexperienced traders will cherry pick trades. They watch a variety of markets and pick and choose what may or may not be a good trade. Even worse a trader will see a winning trade and want to take those profits off the table too soon or even worse take a losing trade and let it go only hoping it will come back to break even. Let your winners run and cut your losses. This is where an disciplined trading system can be of great help. MORE tomorrow..... chart and video of a couple trades today See video here
  4. unclemike
    I would like to have you send me the fivetictrading plan, thank you in advace for your kindness. Mike unclemiketrader@yahoo.com
  5. unclemike
    I was looking for the bands as well, will be watching to see if anyone comes up with it thanks
  6. unclemike
    could you send me the elds for ninja for the DDF and valuechart. Great post and keep up the good work for us non programmers. Uncle MIke
  7. unclemike
    can you post that study or do you have the code or eld. Thanks, I would love to look at this Uncle Mike
  8. unclemike
    can you share and eld that I could try this or send me the code? Thanks Mike
  9. unclemike
    Would love to know these for metatstock also as I use it for backtesting ect... any of the formulas you ccould send me would be greatly appreciated. Uncle Mike
  10. unclemike
    would like some info on the ACD method thanks rocheleaum@metrocast.net
  11. unclemike
    has anyone done an ELD for the Wolfe Wave? I would like to take a look at it in TS. Thanks in advance for anyone who is kind enough to post it. Uncle Mike
  12. unclemike
    Yes saw that daytradetowin site also. The major problem I see is that he uses 6 point stops with a 2 point target for most. He does use take off half at 2 points and then the rest at 4 points. No rules that I can determine either. today it looked like he took the signal twice and lost. He does not tell you how long to stay in the que. The signal today was generated early and he still took it at 11:15, about an hour later
  13. unclemike
    just checking to make sure this was posted
  14. unclemike
    I look forward to contributing and accessing the great talent here. Uncle Mike
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