Finally giving it (another) go

It's none of my business at all, of course, but reading your recent comments, I can't help wondering whether this is demo or actual money, ET ... :|

I would also like to start looking for a more rules based system. Buy when this crosses this and the rsi is doing this. You know the kind of thing. If anyone is successfully trading like this, please point me in the right direction.
Click to expand...

I can happily point you in the right direction, with two book recommendations. Both were written specifically for people "looking for a more rules-based system". Both these books would be far, far more use to you than finding an indicator-based system and simply trying to follow it. (There are discussions of various kinds of indicator-based systems in each of these books, but also much more than that, together with advice about what sort of indicator-based systems to try to use, according to your own position and circumstances.)

Van K. Tharp: Trade Your Way to Financial Freedom

Tushar S. Chande: Beyond Technical Analysis

And good luck!
 
Thanks Alexaherself. I'll get a copy of them and give them a read.

I'm trading with "real" money, although very small at the minute. I find paper trading doesn't do me a whole lot of good. I tend to think more when its real cash.

Before when I posted on here I felt it really helped. Clears the mind and makes you think twice before you post a trade!
 
OK, so I'm going try and be a bit more disciplined in my trading for the time being.
I'm going to trade the way I usually would, but I've open a seperate account that I will trade a more rules based system. It'll need a hell of a lot of tweaking, but I will post signals as they occur and try and figure out if I can filter it to make it profitable,,,,,,,,
 
So I think my plan going forwards is to test my new more rules based system.
I'll take signals from the 4 hour charts when I'm unable to watch the market, with stops in place and take profits at around 2:1.
When I'm sat in front of the screens ill take signals of either the 5 minute or 15 minute charts.
In truth id rather use the 15 minute but ill see how my patience holds up!
 
At the minute I'm very much in test phase, so I'm happy to go off all signals. In time I will look for a way to filter my trades, depending on results. An obvious filter is to take signals only in the direction of the trend on a higher time frame.
Whether this works on not, I'm hoping to learn some much need discipline.
 
Ok, the AUD/GBP took out its stop loss. My fault for trying to anticipate the trade. Turns out the signal never came!
Locked in some profits for the dow
 
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