[HAL9000]

How should I start?

This is my first thread, and my intention is, that this will be my only thread.

But what have I to tell you?

First of all, I am not consistently profitable yet.

Or in other words: I would loose money, if I would trade real!

Keep that in mind, if you read my thread, because you might die trying following my approach!!!
(Thought about this as an alternative, strange thread title.)

Won't get fooled again, why such a strange title?

Well I fooled myself often in the past, too often.


Now about this thread:

I will try to build up a strategy that works for me.
I will nearly start from scratch, and go step by step.
Everyone is invited to post comments or questions.

I don't know, if this thread will just end up in another failed ego trip,
or if it will produce something of value.

Just give me some time, I think that I see something that is worth to be shown and/or discussed here.

BTW.: From time to time I will post some music videos too,
I hope that these will stay available and are viewable in your country.


And while you give me some time, until it might disappear, enjoy this one:

Won't get fooled again!

Won't get fooled again!

P.S.: If you try to watch the video, and it tells you, that you should try later, instead:
try to click on the text above the video picture ("Won't get fooled again").
This should redirect you to youtube, and at least, it works for me.

[brownsfan019]

Hal - please consider starting w/ something that we discussed here. I would like to see how you develop w/ something so simple. It may not end up there, but worth a shot.

[HAL9000]

Originally Posted by brownsfan019 »

Hal - please consider starting w/ something that we discussed here. I would like to see how you develop w/ something so simple. It may not end up there, but worth a shot.

Hi Brown,

yes, I will not forget what you have posted, I think that this (your comments on my post) is a way to consistent gains!

I will give you my thoughts now, upfront on what will follow.

I have seen how you trade, you trade at the beginning of the RTH,
in other words, during the morning. And that is the key, why it works.
Without any back testing, I just see it. Lets call it common sense.

You know I have tried tons of methods and failed.

So your method used on my charts or naked charts is one thing I will try to discuss here.

There is also a plan B.
I search for something, that is me. If you like to see it this way, its my ego trip. I will discuss that too, I think that I see something, or again, in other words, that I have discovered one of my major mistakes.
And maybe this will add some value here.
Just saying it very carefully.


Regards,

Hal

[brownsfan019]

Hal - You are so right. Once I decided to trade only the morning session (when things are moving), I really stepped my profitability up. If I was still trading the entire day, I think my profit would be down and commissions up.

But that's part of the process - finding your edge - even if that is a self imposed limit on the amount of time you can trade.

[BlowFish]

Best of Luck. Hopefully the simple act of being accountable to your thread will prevent you being fooled again. I am sure lots of people will jump in to tell you if it looks like you are being (fooled).

[daedalus]

Keep at it Hal... you'll figure it out. I think the suggestion using the Heiken Ashi as entries and exits can be a very simple and straightforward method.

But... focus on waiting for the swings to be nice and smooth... lots of doji's and big wicks and you need to walk away. When the markets are moving... its all good. Maybe applied with some simple patterns (higher highs, high lows, etc) it could be very good.

I know the TTM folks do trades called "TTM Rotations" based on the same concept. I'm sure if you search their website you can find some video examples.

Cheers!

[HAL9000]

- BlowFish, Daedalus:

Thank you both for your comments.
Yes, I will try to be accountable here.
In case I do this seriously, this should help me to clarify some things for myself.

Regarding Heiken Ashi. I know about the TTM Rotation concept, and I will
show it here too, combined with Brownsfans approach.

One of my mistakes in the past was, to mix things up, and trying this and that at nearly the same time.
This experimenting might be good for learning, but its not good for real trading. So its now about to sort things out.

Keep what works, throw away the rest.

And now its time to write my first real post.

[HAL9000]

Step 1:

Lets define the point where we start.
And as I see it today, this might be all one needs,
so later on, we always have to come back to this simple view
and ask ourselves, does this new tool/indicator helps us,
or adds it just more decision points, which then might lead into
confusion.

But what is my starting point?
Its a 8 tick range bar chart, which includes the night sessions.
(Sometimes a bar has more then 8 ticks, that is because I use 5 s bars as feed.)

I also look at 4,12,16 tick range bar charts, but I like the 8, because it has a high resolution,
but is not too noisy at the same time.
Furthermore in my view, range bars have a big advantage, if you use 24 h data.
They just show the price movement, while time or volume is filtered out.
So many indicators, don't have to readjust themselves, when the RTH starts.

The chart below shows the last two days.
And within the next steps, I will use this chart again, so that there will be variations
of the same picture again and again.

Looking at this chart, I think its obvious to think about trendlines and s/r lines.
I haven't drawn them in, but maybe the first rule should be, respect these lines.