miketranz
956 posts
msg #137606
- Ignore miketranz |
8/12/2017 11:01:14 PM
Observe the market on a daily basis.Watch it closely.Get the feel for what's really going on in general in different sectors.Get in sync with it.See what appears to be working on the charts.Chose the time frame which might work for you.Day trade,swing trade,long term trade.Start off with very small size,until you get the feel of what it's all about.Work your way up only when you become profitable on a consistent basis.Get a trading journal,log all trades,profit/loss,why/when you entered it,why/when you exited it.You'll start to see a pattern of what's working and what's not.The number one reason beginners lose money in the markets is they can't take a loss.Learn how to scratch a trade immediately if it does not go in your direction.Remember this,big losses start off as small losses.The number two reason is beginners operate under the law of assumption.They assume something might work,with no statistical facts or data backing them.That's just pure gambling.You need to find your niche,see what works for you through trial/error.Just make absolutely sure you have statistical odds in your favor before you pull the trigger.That's my take on 20+ years of trading.Best,Miketranz...
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graftonian
1,089 posts
msg #137608
- Ignore graftonian |
8/13/2017 9:55:04 PM
I have been working on a filter utilizing the parameters of the Charting Wealth blog. I have applied it to a watchlist populated on a daily basis from many tried and true filters here on SF. Among them are Kevins adaptation of the conners hi prob etfs, a bottom feeder oriented GUPPY system, Kevins Pangolin Z, a filter called "Pennies from heaven" by Shills, and a PSAR/ADX bottom fisher.
I find that it might take days, weeks, or months for a signaled stock to finally trigger, but the results are worth waiting for. The most spectacular trades have been signaled by Shills filter and triggered a month of so later by the Charting Wealth system.
Also as a "stand alone" filter, the results are not too shabby:
MMY 1/06/16 to 3/24/16 293%
SBS 1/25/16 to 3/15/16 28%
HMY 2/22 to 4/01 45%
CYTX 3/31 to 5/03 50%
In the first 4 months of'16, there 21 winning trades and 3 losers.
Tomorrow, if the 4 hour charts indicate, will take a shot at SID or GBB
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Wa1
1 posts
msg #137944
- Ignore Wa1 |
9/3/2017 4:17:32 PM
Hi Graftonian
Thanks for your rundown. Are you using the Charting Wealth 1W, 2D, 4H timeframe combo for your entries?
Cheers
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graftonian
1,089 posts
msg #137947
- Ignore graftonian |
9/3/2017 6:56:27 PM
WA1, there is ongoing discussion of the CW system on Mactheriverrats thread "an interesting new site..........."
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