Wednesday, November 15, 2006

First bar trade and ideal.....working it!!!



The first bar trade worked 4 times this week with only one loss, not to bad for a system that doesn't have a thing to do with indicators or the way the wind blows....
by using the 70 tick chart to manage the trade after entry and taking half off, it provided enough greenback to buy everyone an ice cream cone at lunch today....ROTFL!!!......in two counties.

I use three types of setups......
1. The first bar trade, using just price.
2. The ideal setup, using the secret sauce, CCI, my stoch and symmetry.
3. The scapling delight, using the internals.

Today the ideal trade setup gave me 3 opportunities this morning, points "A", "B" and "C". Both "A" and "B" setups did trigger when the price took out the low of the setup bar without taking out the high of the setup bar. However, "C" was a 50 CCI ZLR setup but it didn't trigger since the price took out the high of the setup bar and voided the trade and any consideration to risk my capital. The CCI had at this time also moved above zero as you can see by the white circle which would have also voided this setup. And I'm glad, because the hate watching the price moved against me even if it's only 10-15 ticks.....

So it was a good week.......total of 12.5 hours and that beats working at Walmart....right BoobyCathy???????

1 comment:

Anonymous said...

I was just wondering where I can learn more about your trading techniques you mention in this blog. I have read the 1st bar info on your site but also curious about the "ideal", the "secret sauce", CCI and stoch that are listed.

Thanks heaps and keep up the great blog. Love your house BTW - absolutely sensational.

Cheers :)