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james1989

james1989

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The Floor Trader Method

If applied properly, it can be profitable, however, it takes discipline and practice.

Personally i'd prefer undervalued equities, but for those wishing to trade frequently and take more of a risk, this strategy has worked for me in the past.

Regards.
 
james1989 said:
The Floor Trader Method

If applied properly, it can be profitable, however, it takes discipline and practice.

Personally i'd prefer undervalued equities, but for those wishing to trade frequently and take more of a risk, this strategy has worked for me in the past.

Regards.
Click to expand...

I have also been looking at this the past few weeks, then the link went dead.

Some dude at Forex Factory has a thread on it and seems to be doing quite well.
 
It is a very good strategy, but if using on the smaller timeframes, you must be experienced, make sure to test it for yourself in a disciplined manner on a demo account until you feel satisfied, mistakes could be very costly if over exposed.

Personally, the weekly timeframe still comes in handy for trading equities.
 
It's a sound strategy - I use something similar myself - and there are several versions mostly built on the original Gann 3 Bar Retracement thinking. As linked, the FTM concerns itself mostly with entry criteria which is the relatively easy part - it's the exit strategy that deserves most of the attention.
 
Hi jon - I would echo what you say about this strategy, it looks very familiar. By coincidence I have just posted a similar thought elsewhere on the site. I was also thinking of using the 3-bar retracement approach on FTSE100 stocks to explore the trailing stops offered by Capital Spreads through a new thread I will post up later but I am sure FTM would do equally well for the entries.
 
China, I usually determine exits based upon support and resistance, scaling out rather than selling in one block.

Bill, I did trade it on a three minute timeframe for a while, however, with such fast markets, I was finding consistency near impossible and mistakes costly. Instead, I now use it on a weekly timeframe, only when a crystal clear opportunity arises though. My other strategy for stocks is largely based around value, after a few years of studying Berkshire Hathaway SEC filings, I have arrived at a strategy whereby I have been able to get in at the bottom and at the same time as Warren and his new traders have, for example I got in to CVS Caremark at $34 in the recent summers decline.

Regards
 
I was thinking trail the stop at the low/high of each successive bar that moves in the trades favour. Anybody got any other creative exits?
 
China -That would work most of the time but fairly often the charts will print a narrow range day that will take your stop in very tight, or a wide range day that will increase your risk at random. I am looking at taking the ATR of the last 5 days, and am about to post a new thread on swing trading FTSE100 member shares using this. Keep an eye out if you're interested.
 
tomorton said:
China -That would work most of the time but fairly often the charts will print a narrow range day that will take your stop in very tight, or a wide range day that will increase your risk at random. I am looking at taking the ATR of the last 5 days, and am about to post a new thread on swing trading FTSE100 member shares using this. Keep an eye out if you're interested.
Click to expand...

I'm interested = )
 
BILLV said:
Thanks James
Do you buy them and keep them for a while or do you exit after a week?
Click to expand...

I tend to hold on for as long as possible due to brokerage fees, holding periods vary with factors such as growth potential and valuation coinciding with opportunities elsewhere, general holding periods for non long term holdings start from around 3 months. One company I continue to hold is PZ Cussons which I believe has considerable potential over the longer term.

Kind Regards

James
 
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