The Veteran Floor Trader Method

here is what I came up with to exit.

I put a regression channel around the current trend. When PA gets against the north side on a long trend i'll exit all positions.
As long as price continues in this trend I'll keep adding Entry Stops at key places.

Sounds reasonable to me.

I do not use any other tools but two MAs. But if any other tool makes you more confortable - nothing wrong...

Here is a sample of some of the trades made this month.
Hope it is clear and understandable...

I've prepared another chart from the trades this month - it is available here.

And still another chart - hope to be useful

I noticed your using a lot more Moving Averages now : )

thank you isto

isto
are you still mostly trading daily charts or have you also gone to some shorter time frames?

Well from time to time I use also other tools just to confirm the signals

I found Daily as most suitable time frame for me.

isto.....caught you here, two different answers.


Quote:
Originally Posted by FiboFan
here is what I came up with to exit.
I put a regression channel around the current trend. When PA gets against the north side on a long trend i'll exit all positions.
As long as price continues in this trend I'll keep adding Entry Stops at key places.
Sounds reasonable to me.

and your answer.........
I do not use any other tools but two MAs. But if any other tool makes you more confortable - nothing wrong...
__________________
Wish you many profitable pips




Originally Posted by FiboFan
I noticed your using a lot more Moving Averages now : )

and your answer......
Well from time to time I use also other tools just to confirm the signals


so what other indicator have you been using?

Hi johnedoe - you're right!

I'm glad you've read so carefuly the postings

Sorry about this - my intend wasn't to confuse anybody. Generally I really do not use other tools, but if doesn't mean that thay are forbiden if the system does not mention any.

So if you feel comfortable feel free to add whatever and whenever you need to help you.

Just keep in mind that the purpose is to get profit - the system is just to help with this.
Also until you're not completely sure that your changes make the system better for you, follow the original system.

Here you could see and interesting fenomena - loss trades when order are on the right side but volatility kills 'em

Hi traders

Please use the thread A Veteran Method Discussion for analysis, setups and thoughts about trading this method.

Let's keep description easy to follow and to understand for everyone interested to lear this method.

Looking to see your comments on A Veteran Method Discussion

Hi Isto,

I just read the whole history about that approach.
Are you still trading it? Would be nice to see if it still works
and if you still are trading it..

cheers,
og

is somebody else still trading this method and may update on the experience?

thx for any answer.

og

I'm trading it on 1 min time frame. Came out with profit today and yesterday.

do you have some chart examples of your 1m trading. I do have problems with 1m due to the large spreads. even 2 pips on eurusd are quit big..

how is your experience?

best,
og

I use oanda where the spread for eu is .9 a lot of the time. I'm still refining my practice/method in short term trading. Instead of having hard set entry and exits, I am doing more of an eyeball entry and manual exit. Since exiting manually I am liking even shorter than 1m tf. I was trading 5 seconds yesterday and it went well. But I don't think I would be doing that with a 2 pip spread. I use ma's and a hard stop but it's more like a feel for the price movement. Where are entries and exits here? If it's moving against the trade, get out. Practice, practice, practice, so they say.

http://img602.imageshack.us/img602/4213/57783369.jpg

in my opinion less than 5min its difficult. even with a spread of .9 pips in eu. noise is already very intense in 5m and increases with reducing time horizon. but if you feel comfortable with it -than there is no reason not doing it.

i personally do most of the time not enter / exit manually. it is too psychological for me

i also realised that many systems are similar to that system. i.e also the 5min intraday trading system discussed in FF.

could be interesting for you, as you do short time frames.

best
og