Small gap up, and against the market just didn't like it after those opening orders were filled.......9 point move, how did you do?????
At 9:35 the low was taken out and it never looked back again today. This is why I like to trade the first bar, just for days like this. So after 9 days, we have a couple of questions on the table.
1. How much of a gap can we have before we wouldn't take the first bar trade?
2. How much can the range of the first bar be before we wouldn't take the trade?
3. Can we take the trade on the breakout before the close of the bar after the first bar...and if so, how soon before that close?
A side note.....I use a double smooth stoch with a setting of 10. Now if you are using FT, the indicator can be downloaded for FREEEEEeeeeee.
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3 comments:
Thank you for continuing to share the results of this setup - it's been awesome. I use Interactive Brokers and their native charts don't have tick charts nor the stoch settings you're using (at least I don't think they do), so I'm experimenting with alternatives.
I may just bite the bullet and get some 3rd party charts that can use the IB feed so I can mimic the settings you're using.
My biggest concern about going live is blowing out my account. For me, the risk with two contracts, which is essential so I have the option to take 1/2 off along the way if indicated, is about 8-10% of my equity, but the accuracy is so good I'm thinking that might be OK with this set-up.
Anyway - thanks again, your site is a treat. I've espeically enjoyed how you've deconstructed so many of the snake oil salesmen out there.
I got onto Fib Trader am I'm working on learning the program. Nice to have both bar and tick charts.
I see some stochastic options but not one for DSS. Can you share where I might find it the download? (No joy with a Google search, at least for FT!)
Dennis,
Thanks for the info on your stochastic settings. Are those charts FT or TS ?
Last week was such an awsome week, thanks for sharing.
MarioM
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