Lohad - Final Cut - M1 System

Yes I downloaded that system. Looks very good. I have not used it yet. Maybe over the weekend I will look at it, but looks very impressive graphically. Looks like a style of trading that I like.

I would not say that your ema tweaked system failed all together. I put the ema's up that had and I found a very nice correlation (that I use on the M5 system) between the 50 ema and the 200 ema that I like to use. I am still testing the correlations before I post what I see on it, but I think it is giving me some good indication on market conditions when using the M5 chart.

I also peaked into the Ichimoku thread as well. How I am not familiar enough to comment on it. I do have it bookmarked though. Someday I will sit down and review it. There is a lot of information there.

Lohad

glad ema's play a part of S/R. I like that too. RSI seems to work well for me so I'm into your ideas alot.

Ichimoku replaces all of this and is a complete system by itself. There are so many ways to trade it I lose alot trying something new. Then I go back to what I was good at and begin to win again. Some traders scalp it but I've yet to see how to do it consistently.

Steve

The Plan:
I honestly feel that I have something that I can trade with confidence, provided that I do not let myself guess what the market is going to do and just let the system run. Now I have been through this before with all of the crazy systems I have thrown out, thinking I just created an ATM. Only to have a bad day, tweak this, change that and the next thing I know I am creating different systems and not really given them a chance to trade. I spend more time working on system creation and not trading.

Now I feel I have a good system but as usual I need a good exit strategy. I think this is the most important aspect of a good trading system. Finding a good entry is one thing, finding a good exit strategy has proven harder for me.

So..... tomorrow, I am going to run this through the gauntlet. I am going to take my entries as usual, but I am going to not exit until my system tells me to exit. Today I was exiting when I hit a certain TP level. But I want to see the full potential on this system. So there is going to be a lot of times (hopefully) where I am up 40 in a trade but the exit will get me out at +20. I am willing to let it be. The ONE condition I will do tomorrow, is if I hit +10 in a trade, I will put a stop loss of +1. I hate to see profitable trades go to the negative. I expect to be in the market about 80% of the time.

So tomorrow I will drop down the amount traded so if this is a complete failure it won't hurt my account too much. And I will just tally pips and see where it ends up for a daily total when the dust settles.

Looking forward to it.

Lohad

Could you please post your indicators and template from posts 92 and 93.
Thank you for your help.

MichaelB,

Sorry I forgot to your PM. I will post this up today after my test today. I would like to see if I can come up with some sort of decent exit plan.

Lohad

OK here we go. I will go with GU today for my test. Just need my entry and I am in. Hope it goes well.

Lohad

steady at the helm....

Thanks Jiva,

I am ready for either outcome.

I am officially in. Not the greatest entry signal but it gets me in the wave. Gonna be a long day. My broker will either love me or hate me......

Lohad

GREAT right at news.... kicking myself

OUCH! I feel like a dumb ass now! Enter a trade 2 minutes before news. Well get the next one.

Lohad

OK now I will remember my rule no trading 15mins before or after major news. Have another signal long, but I will wait till my rule expires.

Lohad

OK I see a possible short signal coming up. I am hesitant on taking it since we are in an up trend. But I will since I am pushing this to the limit today with the expectation of seeing what this thing can do in all conditions.

Lohad

I am now short GU, not the prettiest signal (white and red spread out) but this is research.

Lohad

VERY close to exit..... we will see how it plays out.

Haha,

Been in a trade for 45 minutes. I am not used to this. This one is a grinder. I did get to +2 at one point, but I am seeing a lot of Support being formed on a M1 chart during this trade. Thinking this in the end will go up and I may catch up some of my losses on the next up move. This almost therapeutic trading his way. -10 ATM. We seem to be stuck in a narrow M1 channel (if there is such a thing). Maybe trying to reload for a power short. Who knows. Time will tell.

Lohad

This is what I am seeing at the moment.

I SOOOOO wanted to close this at +7. But not the rulles of this exercise

Just tough. Was at +8 now BE. Tough to watch that go as a scalper.

FREE TRADE SL set to +1, +13 at the time of this photo!

Lohad

+5, -38 for the day. Had SL set wrong. Should have been +1. Looking for new signal

Lohad