Optiontimer's Project

[russellhq 10]

Yes, it finally came unstuck today, and sitting on an open profit of about $1400. It could be gone before the pit opens on MOnday, but without patience to endure its waffling about, I wouldn't have had the chance to be along for the ride.

 

 

Wheat triggered short today, but I did not take it in this account.

 

I'll check the charts and post potential trades, if any, over the weekend.

 

-optiontimer

 

 

I have the 10yr Note trade open, would it be possible to describe the exit strategy for this trade?

[peterbee77 10]

Thanks O/Timer,

for your helpful thoughts in post #151 (page 19) responding to my post #146, re applying your method to stocks. Your comments have crystallised some trends I sensed in my preliminary backtesting.

 

The list you choose will be of paramount importance - you need to find something similar to the IBD 50, for example - think high momentum, strong trend. AAPL, NFLX, CMG have all given easy to spot entries.

-OT

 

Applying your method to stocks, one really does need to filter out A LOT of stocks, as you suggest. Luckily my scanning software allows detailed filtering - my scan selected for stocks meeting the following criteria: EMA65>EMA21 (ie I focussed on long trades only); price above EMA65; StochRSI<50% (ie approaching oversold); filter for higher beta; filter for high average daily liquidity. This gave me a “shortlist” of 80 stocks out of the 2,500 Oz stocks which I followed until they triggered . I will look at incorporating some fundamental scan criteria as well, maybe similar to the IBD-50 (which applies the CANSLIM criteria I think).

 

One thing I didn’t mention in my earlier post was, I am using a random-number generator to select dates for my backtesting, and the first date it selected was Feb-18-2011. When I looked at a chart of the indexes today (see thumbnails), I see that some of my "shortlist" did OK relatively. Feb-18 was near an intermediate top: it was followed by a mild decline; then a levelling out (during which time half of my shortlist triggered an entry under the OT criteria); followed by a steep decline into the mid-March bottom.

 

Actually the charts of many stocks were reminiscent of your chart of the AD contract (AUDUSD) in your post #75 on page 10. There, the EMAs met the entry criteria on 9 occasions in that the fast-EMA was above the slow-EMA the whole time, and the sRSI rose from oversold, and the price action triggered an entry. However, as you stated the price kept on steadily making lower lows and lower highs.

 

The first chart is of the September 2011 Australian Dollar futures contract. This market is uptrending based upon out EMA criteria, but price action has proven to be far from uptrending. The trend has been largely sideways, with a bias to the down side as lower lows & lower highs have been the pattern since the April highs. This is a difficult market to time long entries with reasonable stops, as after each entry, the market has managed to work itself lower. This situation will have to be addressed. We would not want to make nine consecutive losing trades in one market. With proper position sizing, we could survive it, but it would no doubt take quite a psychological toll:

optiontimer

 

The parallels between my stock charts and the AD arises from the fact that the Ozzie (I'm using the phonetic spelling rather than "Aussie") is a commodity currency and when there is a “risk-off” mood then many assets sell off, whether they be the "risk" commodities, commodity currencies or stocks (global stocks underwent similar declines between April and June).

 

Question is, is there a way of translating that risk-on/risk-off mood into technical analytic terms? As you say OT, "This situation will have to be addressed."

 

Any ideas, anyone?

 

cheers, PB

[optiontimer 10]

I have the 10yr Note trade open, would it be possible to describe the exit strategy for this trade?

 

The stop is for now one tick below the 7/21 low. If the trend becomes our friend and the bull move continues, then exit will be on a settlement below the 65 ema. Should this position still be open in five weeks, then there will be a need to roll the position into the September contract.

 

-OT

[optiontimer 10]

Question is, is there a way of translating that risk-on/risk-off mood into technical analytic terms? As you say OT, "This situation will have to be addressed."

 

Any ideas, anyone?

 

cheers, PB

 

 

First, PB, may I suggest that you not use "risk on/risk off" as an organizing principle. It truly is nothing more than the financial media catch phrase of the day (or the last 3650 days).

 

Risk is always on.

 

Bull markets change, bear markets change. What works during the 2000-201x period did not work 1987-2000 and will not work 201x- 203x or whatever. We will no doubt see a period of time where the AUD and CAD trend opposite of various commodities. We will see, eventually, a commodity bull run with a USD bull. We will eventually see new all time highs on the S&P 500 while energy stocks are underperforming badly. I have seen US stocks trned higher with a higher USD and trend higher with a falling USD.

 

Risk, brother, is always on. Don't allow yourself to think otherwise, and do not allow yourself to think that it will always look the same (unless you are interested in a position as a CNBC anchor or a FED official).

 

For stocks, I have found that it is best to use price and volume action on a daily & weekly basis to track the accumulation and distribution by institutions within price action. You can apply this to both individual stocks as well as the general market. Stay long biased so long as price and volume action indicate accumulation and higher prices ahead. When you start to see a number of down closes on higher volume than the prior session, then suspect institutional distribution of stocks, and refrain from taking long siganls until the general market again signals it is being accumulated by institutions by a collection of days with rising closes on higher volume. I think you will find this concept covered in WIlliam O'Neil's book on CANSLIM under the chapter heading "M" for Market, i.e. general market.

 

As for futures and foreign exchange, I have not addressed this issue here, which I raised in the post you quoted concerning the AUDUSD. I first wanted to prevent adding any more complexity to the thread and the system than we already have until I see that most participants are properly using the indicators in the limited and strict manner outlined in post #8.

 

However, my suggestion for preventing successive whipsaws in the same market would be to take two entries. If both are stopped out, then no futher entry until price tests a clearly significant prior resistance level as support, and price then rallies to a high abopve the last reaction high, and then pulls back.

 

Here is a daily continuation chart of the "Ozzie"dollar futures on which I try to explain how one would approach this "screening" process.

 

 

 

As always, I have tried to keep it simple.

 

Our system now reads as thus (I have coloredred the appended section addressing the issue of multiple stop outs in the same market):

 

Here is our system. I would think it should need very little tweaking. I have tried to make it easy and clear to follow. Please, if you have questions, and if anything seems unclear to you, let me know here. As I said in the previous poll threads, I have two goals with this project - 1) Not to lose too much, and 2) to keep it simple, very, very simple.

 

When the 21 EMA is above the 65 EMA, we do not want to be short, and we may be looking for a long entry signal. Only oversold readings of the stochRSI are relevant, and they are relevant if and only if price has retraced back to a level between the EMA's or even slightly below. A long entry is signaled when stochRSI has turned up on a closing basis, and entry is made the next day if price makes a higher high than the prior day.

 

When the 21 EMA is below the 65 EMA, we do not want to be long, and we may be looking for a short entry. Only overbought readings of the stochRSI are relevant, and they are relevant if and only if price has retraced back to a level between the EMA's or even slightly above. A short entry is signaled when stochRSI has turned down on a closing basis, and entry is made the next day if price makes a lower low than the prior day

 

When this system issues two consecutive losses, then no further trades will be taken until one of the following three criteria are met:

 

1) Price must retest the last signficant resistance level as support or last signficant support level as resistance. These levels should be clearly visible, easily identifiable areas from where price has previously "broken out" in the direction of the major trend. OR,

 

2) Or price trades higher than the high of the second losing long trade, or trades lower than than the low of the second losing short trade, then pulls back, then issues a new signal. OR

 

3) Our EMA's signal that the major trend has changed from the direction of the two previous consecutive losing trades.

 

Thanks for listening,

 

-optiontimer

 

"...the issue here, and IMHO the mistake was in the premature exit based on trying to eliminate anxiety after the worst part of the anxiety had passed..." - SIUYA

Edited July 31, 2011 by optiontimer

[optiontimer 10]

The only set up I have come up with for the open is long 6E/EURUSD.

 

If anyone else has anything to share, let's do it before the fact rather than after...

 

 

 

 

-optiontimer

[russellhq 10]

The stop is for now one tick below the 7/21 low. If the trend becomes our friend and the bull move continues, then exit will be on a settlement below the 65 ema. Should this position still be open in five weeks, then there will be a need to roll the position into the September contract.

 

-OT

 

At what point would you consider moving the stop to our entry price? Or is that something you are not considering for this strategy?

 

P.S.

 

No set-ups from me this weekend. But the following look like they could signal tomorrow for entry Tuesday:

 

Canadian Dollar ($1000ish ATR10 range)

Euro FX ($2100ish ATR10 range)

Heating Oil ($2300ish ATR10 range)

E-mini Nasdaq ($900ish ATR10 range)

[iwshares 10]

Yeah I'd also be interested to hear how you're getting on developing the exit strategy, it's something I'm working on at the moment with my own plan and would be interested in your perspective on exits

[Ingot54 13]

The only set up I have come up with for the open is long 6E/EURUSD.

 

If anyone else has anything to share, let's do it before the fact rather than after...

 

-optiontimer

I have just found the USDCAD and it lookes like a setup to me.

 

I will be going short from 0.9507 immediately. The new candle has been open for 37 minutes at time of posting.

 

Best wishes

 

Ingot

Edited August 1, 2011 by Ingot54

[Ingot54 13]

EURUSD also fits the entry criteria:

 

Long from 1.4386

 

I am taking these on sim (demo) this week. When trading live I will not be taking as many trades, based on (because of) my a/c size and money management.

 

My purpose in posting these this morning is two-fold:

 

1) To get feedback on what I am seeing

2) To alert others that there may be tradeable setups occurring if they agree with the rules

 

I can see some other potential trades setting up this week, but not yet.

 

I will be watching closely for GBPJPY and GBPCHF and (perhaps) GBPAUD, USDCHF, USDJPY (looking promising for a few days hence perhaps), and finally Gold and Silver.

 

Depending on the size of the account I trade, I will most likely be limiting the live action to 2 open trades at a time. But as I mentioned, I will be opening ANY setups in sim purely for the practice and experience

 

Don't be too hard on me

 

Below I post my EURUSD trade, as well as a couple of potentials for later this week. I hope the info is helpful.

[optiontimer 10]

At what point would you consider moving the stop to our entry price? Or is that something you are not considering for this strategy?

 

 

Well, if we were following Kroll strictly, once open profits equal initial margin requirement, we'd move the stop to breakeven.

 

I would prefer to wait until the 65 ema is at a level above our entry.

 

Each individual will ultimately have to choose how he or she will take profits. I have a colleague who is essentially a day trader whose trades last 1-3 days. He enters based upon situations similar to what we are looking at here, i.e. based upon price action viewed through the lens of daily bar price action. He sets a bracket order to take half of his position off at something like 100 pips and the second half at something like 300 pips. He moves his stop to break even if his first profit target is filled. I happen to prefer letting the trade roll and seeif I don't catch a real running profit. Very often, I am adding to my position when he is taking another trade, which he will be out of with his profits while I am awaiting a thrid opportunity to add.

 

Which of us is right? We both are. He trades as he wishes to trade, and I trade as I wish to trade. We have a similar P/L profile over time, as he trades much larger size on each trade, while I tend to achieve larger average profits/trade (over time).

 

He cannot cope with allowing a $1400/contract profit run to a $900 loss. I would much rather have that happen, than allow myself to get stopped at break even only to watch what had been a $1400 profit run to a $14000 profit without me.

 

So, everyone following along with us here will eventually have to design his application of this system to his own threshold of pain, so to speak. I would like, during the course of this thread, to focus as much as possible on allowing trades to run their course. I think we have already seen that cutting trades short is a common problem.

 

I am open to suggestions, as always. And I urge everyone here following along on their own, whether on paper or real money to share his or her experiences with our little system.

 

-OT

[Wyckoff Trader 10]

I have just found the USDCAD and it lookes like a setup to me.

 

I will be going short from 0.9507 immediately. The new candle has been open for 37 minutes at time of posting.

 

Best wishes

 

Ingot

 

 

If I were trading this ( or any "daily" bar method) then I would only use charts which dont have, (or I'd ignore) those small "Sunday" bars when looking for high/low breakouts

 

On my charts there would be no violation of the previous day(Fridays) low yet

 

 

Cheers

Edited August 1, 2011 by Wyckoff Trader

[Ingot54 13]

If I were trading this ( or any "daily" bar method) then I would only use charts which don't have, (or I'd ignore) those small "Sunday" bars when looking for high/low breakouts

 

On my charts there would be no violation of the previous day(Fridays) low yet

 

Cheers

Hi Wyckoff Trader

 

That may be a good strategy, and I accept it is more conservative. Why do you choose not to use that Sunday candle?

 

Optiontimer's strategy does not call for us to differentiate (as far as I am aware). Unless Optiontimer or Kroll are in agreement, I see the issue as a distraction. I have read elsewhere that the Sunday candle does not contain enough data to be classed as a "true" daily candle.

 

I haven't done research on it, but it is possible that "you win some- you lose some" and that providing you are consistent - either taking / ignoring that candle - the result over many months may be the same for an account.

 

If it could be demonstrated that the results are skewed heavily in favour of ignoring the Sunday candle, then I would certainly be foolish to ignore the research.

 

Introducing new rules means we no longer have Optiontimer's strategy, but a new strategy.

 

As my charts have that Sunday candle, I use it.

I don't think you are violating anything by not having that candle, or by ignoring it.

 

Best wishes

 

Ingot

[Wyckoff Trader 10]

Hi Wyckoff Trader

 

That may be a good strategy, and I accept it is more conservative. Why do you choose not to use that Sunday candle?

 

Optiontimer's strategy does not call for us to differentiate (as far as I am aware). Unless Optiontimer or Kroll are in agreement, I see the issue as a distraction. I have read elsewhere that the Sunday candle does not contain enough data to be classed as a "true" daily candle.

 

I haven't done research on it, but it is possible that "you win some- you lose some" and that providing you are consistent - either taking / ignoring that candle - the result over many months may be the same for an account.

 

If it could be demonstrated that the results are skewed heavily in favour of ignoring the Sunday candle, then I would certainly be foolish to ignore the research.

 

Introducing new rules means we no longer have Optiontimer's strategy, but a new strategy.

 

As my charts have that Sunday candle, I use it.

I don't think you are violating anything by not having that candle, or by ignoring it.

 

Best wishes

 

Ingot

 

Hi Ingot

 

I'm not trading this method so my intent is not the introduction of new rules, or speaking for Kroll/OT as to how many days in a week there are ...but I consider a trading week to be 5 days, not 6, and a "day" a period of time where all the participants have had a chance to voice their opinion on the market - especially if I'm considering a break of a previous day high/low

 

I don't consider a separate Sunday bar to have enough data/time to be a separate "day" - the price action of that period is incorporated into "Mondays" daily bar.

 

As you say, applied consistantly there may be no difference in the methods efficiency not/using a separate bar , my intent was just to highlight for those following that some signals will be "broker/chart dependent".

 

Cheers.

Edited August 1, 2011 by Wyckoff Trader

[Ingot54 13]

Hi Ingot

 

I'm not trading this method so my intent is not the introduction of new rules, or speaking for Kroll/OT as to how many days in a week there are ...but I consider a trading week to be 5 days, not 6, and a "day" a period of time where all the participants have had a chance to voice their opinion on the market - especially if I'm considering a break of a previous day high/low

 

I don't consider a separate Sunday bar to have enough data/time to be a separate "day" - the price action of that period is incorporated into "Mondays" daily bar.

 

As you say, applied consistantly there may be no difference in the methods efficiency not/using a separate bar , my intent was just to highlight for those following that some signals will be "broker/chart dependent".

 

Cheers.

That is a rational approach, Wyckoff Trader, and one that seems well-justified, going by the activity in both of my positions. Both have suffered draw-down over the past 22 hours.

I am not annoyed about being in loss, but I AM open to learn.

 

I will wait until Optiontimer comments. I didn't have much hesitation to enter those trades signaled because although there may "only be 3 hours data", traders who are strong enough to move the markets have also had 48 hours of thinking and meetings since the close of the Friday candle to make decisions at the opening of the week.

 

So, in effect, market movements may or may not still be the result of what has transpired fundamentally over the weekend.

 

I don't know - no one does, and I don't really need to know.

 

I, as a trader of a mechanical strategy, only need rules, not Fundamental or Technical Analysis. But there is nothing wrong with with a trader making his decision to ignore that candle and wait for a "full day" of trading, before acting.

 

At time of writing, my USDCAD is minus 53 pips, and my EURUSD is down 130 pips.

Both have been quite a lot worse than this overnight (it is 0856hrs Tuesday morning where I live) so we will wait and see.

 

Nice to have your feedback on this issue - and useful learning can be the only result of that.

 

Thank you

 

Ingot

[optiontimer 10]

I don't consider a separate Sunday bar to have enough data/time to be a separate "day" - the price action of that period is incorporated into "Mondays" daily bar.

 

I presume that this is how all the world except for foreign exchange bucket shops bundle the data.

 

Ingot, my suggestion is that if you are going to continue with your current bucket shop, then trade as you have been trading. However, you should keep records to indicate whether a trade that you have taken would have been triggered had Sunday & Monday's PA been bundled together as one, and track whether there is an adverse effect on your P/L by treating a few Sunday hours as a separate day of trading.

 

Also, many of my currency futures trades are filled at or near the Globex open on Sunday night, EDT/EST. So I am not suggesting that one not trade Sunday. However, my decision to do so is based upon Sundays's trading compared to Friday, not a few hours of Sunday artificially separated from "Monday." And do not forget to think of this: while you were looking at a "completed" Sunday bar, those on NY and London time were still watching ticks accumulate to their Sunday bars.

 

FWIW, Interactivebrokers does not print a separate Sunday bar.

 

FWIW v. 2, a few weeks ago, I had some difficulty with the MT4 version of stochRSI. From what I have been able to detrmine, my difficulties arose from the fact that Oanda prints a separate SUnday bar, rather than simply plotting one bar Sunday/Monday with the cumulative trade data from that period.

 

FWIW v. 3, my understanding of the foreign exchange world is that Institutional traders, no matter which money center they call home, all consider the forex day to be NY 5PM Eastern close to NY 5 PM Eastern close. Since those are the traders who move the market and create the trends we hope to profit by, it seems beneficial to align our data with theirs.

 

-OT

[optiontimer 10]

So, a question for the cash market forex traders among us: Was today the day of "The Great Shakeout"? Or did any of you manage to hang in there for some great favorable moves?

 

-optiontimer

[PWP 10]

position update from my phone:

Eur/Chf and Gbp/Chf shorts are still active-moved stops to BE

 

New order: short eur/cad 1.3600 stop 1.3800 -if I get stopped out that will be number two and I'll have to follow OT's rules for avoiding whipsaw.

 

Good luck trading - PWP

[optiontimer 10]

position update from my phone:

Eur/Chf and Gbp/Chf shorts are still active-moved stops to BE

 

New order: short eur/cad 1.3600 stop 1.3800 -if I get stopped out that will be number two and I'll have to follow OT's rules for avoiding whipsaw.

 

Good luck trading - PWP

 

 

Awesome!

 

I also see the EUR/CAD as well.

 

I had been expecting a long campaign to develop in the Dow or S&P, but more and more this has the look and feel of a new Bear market rather than a consolidation in an ongoing Bull. I'll have to keep an open mind and take what the market decides to give me.

 

Time to update my charts - I'll post any trades I come up with.

 

Great trading, PWP ... keep in mind that the profits you have built up on those two trades likely would have taken 12-18 months in Kroll's time to see a move of that extent.

 

Enjoy the volatility while it lasts!

 

-optiontimer

[Ingot54 13]

I presume that this is how all the world except for foreign exchange bucket shops bundle the data.

 

Ingot, my suggestion is that if you are going to continue with your current bucket shop, then trade as you have been trading. However, you should keep records to indicate whether a trade that you have taken would have been triggered had Sunday & Monday's PA been bundled together as one, and track whether there is an adverse effect on your P/L by treating a few Sunday hours as a separate day of trading.

 

Also, many of my currency futures trades are filled at or near the Globex open on Sunday night, EDT/EST. So I am not suggesting that one not trade Sunday. However, my decision to do so is based upon Sundays's trading compared to Friday, not a few hours of Sunday artificially separated from "Monday." And do not forget to think of this: while you were looking at a "completed" Sunday bar, those on NY and London time were still watching ticks accumulate to their Sunday bars.

 

FWIW, Interactivebrokers does not print a separate Sunday bar.

 

FWIW v. 2, a few weeks ago, I had some difficulty with the MT4 version of stochRSI. From what I have been able to detrmine, my difficulties arose from the fact that Oanda prints a separate SUnday bar, rather than simply plotting one bar Sunday/Monday with the cumulative trade data from that period.

 

FWIW v. 3, my understanding of the foreign exchange world is that Institutional traders, no matter which money center they call home, all consider the forex day to be NY 5PM Eastern close to NY 5 PM Eastern close. Since those are the traders who move the market and create the trends we hope to profit by, it seems beneficial to align our data with theirs.

 

-OT

Thanks for clearing that up.

 

best wishes

 

Ingot

[optiontimer 10]

Not to dis you, but using your reasoning, just about every thread on the site would land in the psych dept!

 

I have no desire to allow this thread to turn into page after page of trash talk like so many other threads do. I will respond to this point here just this once. If you or anyone else wishes to continue this discussion, then you are free to start a new and separate thread devoted to this topic. This will be my final response to this here:

 

There is no psychological pressure to discussing a dead & static chart with no money or no ego on the line, so very few discussions here at Traderslaboratory or at any trading forum would even know a "psych dept" existed.

 

From what I have seen, other than this thread and thalestrader's Reading Charts in Real Time thread, there have been less than a handful of threads where the participants make any attempt to show their hand in real time and before the market has already moved "according to their analysis."

 

So, no, using my reasoning, very, very, very, very few discussions at trading forums ever even have a hint that there is something human about trading. There is no psycholgical pressure, no ego at stake, if one is simply posting after the fact charts and saying, "see here the blah blah blah was waxing while the yada yada yada was waning. An easy trade to spot and makea ton of ca$h." Now, if instead the poster were to post a chart and say, "see here the blah blah blah is waxing while the yada yada yada is waning, I am therefore going short at $x, with a stop loss at $x+y, and a take profit order at $x-y," well, now that poster has, at the very least, the ego pressure of having made a puclic call, and thus has risked being "wrong" in the eys of his readers. And if he has actually traded it, he has the addition psychological pressure that most of us mortal feel when real money is on the line.

 

So, no, using my reasoning, very, very, very few discussions are even aware of the existence of the psych department, because very very very few posters are willing publically to risk his ego by posting a potentially losing trade. This one belongs right where it is because its explicit purpose is to provide a specific and easily understandable and replicable system which is meant to help actual people, if they so choose, place actual trades, with the hope or earning actual profits, or at least to prevent them from losing their actual shirts while working on the actual and real psychological and emotional pressure which, in my opinion, is the primary cause of trading failure.

 

-optiontimer

Edited August 2, 2011 by optiontimer

[NeoTrader 10]

Thanks O/Timer,

Luckily my scanning software allows detailed filtering - my scan selected for stocks meeting the following criteria: ...

 

I am intrigued by the ability to scan charts for criterion like that. Peterbee, or anyone else for that matter, can you tell me what software you are using?

 

Does anyone know if there is one available thats compatible with Ninja Trader perhaps?

 

Free would be great obviously, but I would pay for a tool that could filter through a stack of symbols for setups.

[Wyckoff Trader 10]

FWIW v. 3, my understanding of the foreign exchange world is that Institutional traders, no matter which money center they call home, all consider the forex day to be NY 5PM Eastern close to NY 5 PM Eastern close. Since those are the traders who move the market and create the trends we hope to profit by, it seems beneficial to align our data with theirs.

-OT

 

That was the case in the Banks I worked for (London)

 

Cheers

[phantom 16]

 

From what I have seen, other than this thread and thalestrader's Reading Charts in Real Time thread, there have been less than a handful of threads where the participants make any attempt to show their hand in real time and before the market has already moved "according to their analysis."

 

OT, I am a day trader. I am in and out of the market in the blink of an eye compared to what you do. I am not afforded the time to casually discuss the options of a trade as it is happening.

 

The reason I moved from position trading to day trading in the first place was primarily to reduce risk, and therefore to reduce psychological pressure.

 

My remarks were not to provoke OR prove that my ... is better than your ....

 

I think that what you are doing is marvelous. So don't take my remarks out of context and feel challenged by them.

 

I've got plenty of readers who like my stuff; if you do not, I couldn't care less.

 

But at least be honest with the newbies here. I'm not a trash talker and you "actually" know it.

 

 

Luv,

Phantom

[PWP 10]

Position Update:

 

Because I'm still in the small account world - I only add 1 unit when taking trades - I'll change that as soon as I can without overleveraging my account. Therefore my Eur/Chf & Gbp/Chf shorts I've looked at as 1 trade. So in following my take off 1/2 at 4:1 Risk Reward I took off my Gbp/Chf at +780 Pips (720 would have been 4:1) so a little better. My Eur/Chf trade will stay on and act as my other 1/2 which I will let run until stopped out. The stop is currently at BE and will only be moved lower along with the 65EMA. I'll update when that happens. My only other active trade is Eur/Cad short at 1.3600 with Stop at 1.3800 (Again only 1 unit). Kind of tough in the beginning when you can't have 2 units on to work with your trade plan accurately but the way this is going it shouldn't be long until I can have 2 on each trade.

 

I know I took off that trade during the middle of the day but thought it prudent to take my 1/2 prior to the end of the day due to the fact that it met my 4:1 rule. Otherwise I'm looking forward to my 5pm EST Trade decisions tonight.

 

Thanks again OT - Great Work! You've absolutely made a significant difference in my trading.

[optiontimer 10]

Thanks again OT - Great Work! You've absolutely made a significant difference in my trading.

 

The credit is all yours. Congrats!

 

optiontimer