Day Trading & Forex Forum

luckyd1976

Has anyone had success using his 8ema/21ema daily trends?

rathcoole_exile

yep, use it on daily charts - but whereas he recommends buying Calls, I use the same set up to sell Puts ....successfully ....

__________________
how to speak Norn Iron:
http://www.youtube.com/watch?v=zJH3_...eature=related
if u can't accept that only 2 or 3 trades out of 10 will be small winners, & that 2 or 3 will be scratched for even & that 3 or 4, even 5 will be losers, with possibly only 1 in 10 trades being "payday" then u shouldn't even consider trading

my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E is it because you shout?'

new_trader is to trading advice what air france are to aviation

luckyd1976

I've just started playing w/pages 303-310. His Rec of <30% premium (pg305) Is DEAD ON but that usually equals @ .75 Deltas and I found better results bumping up to @.90 deltas. I've also tweaked the 8/21 to 10/21.

I Like the 21 (perfect monthly line) but wanted the 50/50 split more for smoother.

Pro = $ moves more with the higher deltas and very low cost premiums paid <10%.
Con = More capital outlay per position.

So far so good but small sample size. Hoping I can add this strategy to my MidTerm Ports.

Are you waiting for the 8 pullbacks? Or just taking the cross?

Chorlton

Can I ask what Book everyone is referring to? Just interested....

Thanks....

__________________
A Fine is a Tax for doing something wrong. A Tax is a Fine for doing something right !!

Return of Capital should always be more important than Return on Capital

rathcoole_exile

Mastering The Trade, John F Carter
ISBN# 0-07-145958-8

I've read Murphy, Hull, Nison, Crabel, "livermore", Bulkowski, Bernstein, Elder, Van Tharp, Raschke, Douglas etc etc
but Carter's book is the only one I will ever recommend to anyone, it's the best I have come across

he also does a free daily video at his website tradethemarkets.com for which no credit card or mmbership details are required; and it's quite simply the best trading education available

__________________
how to speak Norn Iron:
http://www.youtube.com/watch?v=zJH3_...eature=related
if u can't accept that only 2 or 3 trades out of 10 will be small winners, & that 2 or 3 will be scratched for even & that 3 or 4, even 5 will be losers, with possibly only 1 in 10 trades being "payday" then u shouldn't even consider trading

my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E is it because you shout?'

new_trader is to trading advice what air france are to aviation

gotmessner

Rathcoole - gotta ask:

Why do you put livermore in quotation marks?

rathcoole_exile

i understand it was a biography, 3rd party, written posing as a 1st party autobiography .... allegedly

__________________
how to speak Norn Iron:
http://www.youtube.com/watch?v=zJH3_...eature=related
if u can't accept that only 2 or 3 trades out of 10 will be small winners, & that 2 or 3 will be scratched for even & that 3 or 4, even 5 will be losers, with possibly only 1 in 10 trades being "payday" then u shouldn't even consider trading

my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E is it because you shout?'

new_trader is to trading advice what air france are to aviation

Chorlton

Cheers Rathcoole...... Can I ask why you rate it so highly?

__________________
A Fine is a Tax for doing something wrong. A Tax is a Fine for doing something right !!

Return of Capital should always be more important than Return on Capital