Quiet without Lurker ! Didn't fall under a bus hopefully ?
Sorry about that Pat - I'm still here, just taking some time off - everyone is suggesting I do so. I've withdrawn the balance of my trading accounts so I can receive an extra few days interest in my bank, and am doing some other things at the moment. I intend to pop in from time to time and make the odd post. In a few days (or up to 10 depending) I am going to start seriously studying ES and YM systems until I can develop or tweak one enough to suit my objectives. This will involve lots of chart studying etc. I'd ideally like a few high probability setups which I trade when they occur, and only when they occur. I'll also need to move towards systems which do not require me to sit at the screen for the entire cash market session.
I think firewalker may have given me something really good, but in my current condition it is casting pearls before swine. If I spend enough time studying it, I'll find ways of improving. My volume analysis could be better though, and I suspect that is a large component of the discretionary trade filtering. I might take another look at Atillas longer term moving average system, if I can get further details on what actually constitutes a clear signal.
More will follow shortly - I'll find something I am sure. The hard part will be backtesting in enough market conditions to verify it is profitable (I will have to do this by hand), and then optimising the money management. The harder part will be executions, but I will ensure I trade at a size where I can comfortably lose 20 times in a row trading the new system. (at £1pp that is £20 * the average stoploss amount). I'll do the last exercise in Trading in the Zone with the new system when I have something usable. I am still going to focus on the YM, as I know this market quite well, but I am looking to make the jump to the ES as soon as is possible. If I am still spreadbetting, a 4 point spread on the ES represents much better value than 4 points on the YM!
LL Cool J has probably won the lottery ....... and is now living on easy street.. ? :cheesy:
My chances of winning that are approximately zero as I don't buy tickets. However, if I were to buy tickets (I'd probably have to be tempted by a particularly large jackpot or something), and if I were to win, can anyone guess what I would be spending my days doing?
Got it in one - trading! The only change I would make would be getting a direct access account, however I would force myself to trade 1 lot until profitable.
