TraderTony said:
I have found the same to be true, CM's strategy is excellent in a trending market, and one or two trades pay off more, than, as TraderTony put reacting to every twist and turn.
Today I took a long @ 10036 on pull back to 100 ema, I was tempted to reverse it off the nd but didn't and now the market is up above the 10100 mark.
This week has more than made up for the disaster of last week.
Carlos
It's nice to see someone else putting a strategy to good use and getting a real benefit from it. It must be really hard having to put your faith ( and cash) on the line , following some strange strategy that you may not be 100% comfortable with. It's only basic, but returns high rewards on trending days and keeps you safe ( ish) on sideways days. Who needs something complex? Not me, I don't have the brain for a start.....
tradesmart
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Monday:-
nice to see targets met............
can I apply for the 'Mystic Meg' award for this week please............
Good call in the Dow Comp CM.............! :cheesy:
ps - Dow Comp : This Week's Average Prediction: 9153.....! (the market confounds the pessimists yet again with another 'handbrake turn'............)
nice to see targets met............
can I apply for the 'Mystic Meg' award for this week please............
Good call in the Dow Comp CM.............! :cheesy:
ps - Dow Comp : This Week's Average Prediction: 9153.....! (the market confounds the pessimists yet again with another 'handbrake turn'............)
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I didn't make it anyway...... fell over at the last hurdle.
Seems I may have got the channel wrong,as there is now a better fit, or did it just fall short.? Either way , it doesn't really matter that much, so long as you get it in the right ball park.... PD set in and not much room above on the price so I guess it's down from here....
Seems I may have got the channel wrong,as there is now a better fit, or did it just fall short.? Either way , it doesn't really matter that much, so long as you get it in the right ball park.... PD set in and not much room above on the price so I guess it's down from here....
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Bill
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Err well very little to say today on the ema100 channel.
As expected it proved of little use.
A: Short? Rule 1. Quite frankly you'd have to be a kamikaze pilot to take a short here. Just cleared SR @ 10050; a pennant about to deliver; bounce from ema100.... need I go on?
B: Short Rule 1. Again only for the desperate given market sentiment.
The only thing I will say is that there were very few indicators at all which is a good thing I suppose.
I did have a little punt independently of this [suppose everyone else was fillin' their boots?] and nicked 22 points from 10082 to 10104. And that was real money not virtual. There was lots of nd in those last few hours, full marks to anyone who didn't get out too early like I did. Must confess that after breaking 10100 I expected to see the price reach 10132 as I think that would have been CM's channel top?
Anyway I've got quite a stack of data from this week and should have time to analyse and modify the rules over the weekend [her in doors permitting ]
Have a nice weekend...
Bill
Rules are
1. Short if price crosses 100ema and touches/crosses 100ema+15
2. Long if price crosses 100ema and touches ema-15.
3. Short if nd and/or price is 100ema +15 [or v close]
4. Long if pd and/or price is 100ema -15 [or v close]
5. Don't trade in the 1st hour
6. Stop losses above/below obvious SR
As expected it proved of little use.
A: Short? Rule 1. Quite frankly you'd have to be a kamikaze pilot to take a short here. Just cleared SR @ 10050; a pennant about to deliver; bounce from ema100.... need I go on?
B: Short Rule 1. Again only for the desperate given market sentiment.
The only thing I will say is that there were very few indicators at all which is a good thing I suppose.
I did have a little punt independently of this [suppose everyone else was fillin' their boots?] and nicked 22 points from 10082 to 10104. And that was real money not virtual. There was lots of nd in those last few hours, full marks to anyone who didn't get out too early like I did. Must confess that after breaking 10100 I expected to see the price reach 10132 as I think that would have been CM's channel top?
Anyway I've got quite a stack of data from this week and should have time to analyse and modify the rules over the weekend [her in doors permitting
]Have a nice weekend...
Bill
Rules are
1. Short if price crosses 100ema and touches/crosses 100ema+15
2. Long if price crosses 100ema and touches ema-15.
3. Short if nd and/or price is 100ema +15 [or v close]
4. Long if pd and/or price is 100ema -15 [or v close]
5. Don't trade in the 1st hour
6. Stop losses above/below obvious SR
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Hi Chartman,
I saw the triangle break you mentioned and arrived at the same T1.
I struggled though to see any further targets after this, there seemed to be a lot of conflicting information unless I got it all wrong.
For example, after meeting T1 the RSI went as high as 90 so any of the next peaks were subject to ND which put me off.
I know this is probably just my inexperience, I am trying to be too cautious when I should just believe in and follow your Dow strategy!
If you have time, could you explain why you anticipated T2 & T3 and why you didn't exit after T1 was met?
Thanks as always for your help and have a good weekend!
Justyn.
I saw the triangle break you mentioned and arrived at the same T1.
I struggled though to see any further targets after this, there seemed to be a lot of conflicting information unless I got it all wrong.
For example, after meeting T1 the RSI went as high as 90 so any of the next peaks were subject to ND which put me off.
I know this is probably just my inexperience, I am trying to be too cautious when I should just believe in and follow your Dow strategy!
If you have time, could you explain why you anticipated T2 & T3 and why you didn't exit after T1 was met?
Thanks as always for your help and have a good weekend!
Justyn.
I did exit after T1.. I saw RSI at 90 and thought that was enough..... The rest was hind sight,but should have been easy enough to see. Had I waited just a little longer, I'd have been in for the lot. But that's what it's like in real trading. Normally, at RSI 90 , you'd be a fool not to get out. So I see nothing wrong with that.
Great day today thanks to the now famous CM Dow strategy.
Today looked a lot simalar to wednesday in many respects with the gap down the quick bounce back and the drift upwards of the ema.
I entered on the pullback and sat it out till the end (pheww).
Almost exited @ 10:42 ish est on high rsi but held on thinking there had to be an nd which never came until after the second huge peak on rsi but price being in around the 10100 range and so far from 100 ema had me holding to see if it would go to the magical 10132. (or even more magical 10136) guess i still have to wait for that ton.
Exited after 120 failled @ 10114 for + 78 which is the best ever for me.
Intresting nd on 10 min chart CM, could well come into play if the price of the black stuff moves higher next week.
Today looked a lot simalar to wednesday in many respects with the gap down the quick bounce back and the drift upwards of the ema.
I entered on the pullback and sat it out till the end (pheww).
Almost exited @ 10:42 ish est on high rsi but held on thinking there had to be an nd which never came until after the second huge peak on rsi but price being in around the 10100 range and so far from 100 ema had me holding to see if it would go to the magical 10132. (or even more magical 10136) guess i still have to wait for that ton.
Exited after 120 failled @ 10114 for + 78 which is the best ever for me.
Intresting nd on 10 min chart CM, could well come into play if the price of the black stuff moves higher next week.
