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Walter - just one question for you - are you trading some, all, or none of these trade setups in real-time you have on the forum? Reason I ask is that we get a new Walter trade setup, which is great for newbies, but I am looking at some of these threads wondering how a scalper could possibly trade so many variations at the same time... 
I'm just wondering how you decipher in real-time as a scalper the differences of the setups you have on the forum b/c it seems you have trend following setups, counter-trend setups, boring/zzzz day setups... And the setups have a lot of similarities, it's a matter of how the movement is interrupted.
Are you able to keep things simple as your sig says? If so, how?!?!? I've never had much luck with many variants of a trading plan, so I keep mine pretty simple with candlestick analysis. And to me, that's very cut and dry, not many variants there. I'd love to know how/if you are performing this analysis in real-time and how you decide what variant is being used in real-time.
Thanks Walter! |
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Hi Brown... nice question there...
I have decided some time ago to show all my arsenal, I wanted to take this out so I could also see from outside myself and maybe help others at the same time, in the process of showing all out, it hasnt been that organized... maybe as time passes I will be able to organize all this information... now remember there has been also some evolution from my part too, thats why its so mixed my information, because I went from my traditional M`s all the way to this new setups wich actually some of them are a new version of my M`s...
The First process here is determining the type of day, that normally can be established on first half hour... it will be
Momentum day or
Cycle day... so here you have two big classifications... where for each one there are a series of strategies that will fit the day...
If the day happens to be a
Momentum Day.... then "flip" and "abc`s" will be considered..
If the day happens to be a
Cycle day... then M`s trades will be considered and here we have the new M`s breed : "lazy" trades and "false brake" trades...
So basicly you have four setups that will be organized and considered depending in two types of market climate...
From this four setups I am more confortable with two of them "flip" and "false break"... maybe (here is my evolution) I will probably stay only with this two...
The nice thing here is that both use the same indicators on charts and the timing methodology (with cci) is common for both...
So depending on the day momentum or cycle I will be looking for "flips" or "false breaks"...
They are very easy setups to spot on a chart and very friendly to trade, the key is being good to determine market conditions...
Hope this may clarify all this Walter mambo :p cheers Walter.