Each day we search for the pot of gold at the end of the rainbow....the holy grail...the mother of all systems only to end up back where we started. Is your trading going into the dumper slowly each and every day? No matter what you do or how you try......then maybe we can walk down a different path since the yellow brick road you are on now is just painted yellow and isn't really gold......and thanks Leon for a great picture.....:)
Lagging indicators fill your screens, as you try to figure out a nice safe winning trade without any risk. The gap today on this time frame made the 34 period moving average worthless for 16 long minutes. So you either made up trades or just sat there reading the chat room text and hoping either way a bad way to spend your time.
Click on the chart to make it larger
In Denver, I talked about using the first spike in prem to give you a tradable trend right after the open......Before I go any further, I do have a first bar trade and today I was able to get enough money for a cup of coffee and then got stopped out at BE and I will do a piece on that trade this week. But this prem trade, is also a goodie if you can lock it down. Today, the first spike was to the down side, so I just shorted it and the market rolled over, you can see by the Ninja order entry system that I was short a 50 lot, real money, real time and when we had the spike down in prem to a new low and the ticks to a new low at support....remember we also had support and timing down there.......and like I talked about in Denver, when you find yourself at an extension (fib) with spikes in the internals....just pull the trade and be thankful........which I did, and which I am.
So watch this trading idea, in real time, and decide. Then paper trade it for a while, then and only then should anyone try a 1 lot and test it with real money...just don't throw money at any idea without doing research first......simple as that!!!!
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