Oooh,
I go to NYSE again since Monday, I will trade now on little things, but in tight limits, I will join the market, day trading on NYSE again? – AHA
Loss limit per month: 200$ gross.
Loss limit per day: 30$ gross.
Homework: more precisely, the selection of stocks for the next trading day I will try to write again in the blog as well as […]
I caught sight of Larry Connors' system for intraday trading. Figured by eye — it seems that in recent days she earned more than she lost — at least on those promotions, which I have chosen at random. But that doesn't mean anything – check over a long period of time, on a large number of shares and not by sight, but mechanically. But for this you need to code it all.
All in all, the essence is
For longs:
1. We apply the system only for promotions, which are now in a strong upward trend. Indicative, this can be represented on daily charts as ADX(14) > 30 and +DI(14) > -FROM(14)
2. First 15 minutes of the session just watching the selected promotions
3. After graduation 15 minutes we place a buy-stop order one tick above the 15-minute high.
4. If the buy order is triggered, place stop loss one tick below the 15 minute low.
5. Connors takes liberties here.. Writes, that profit-taking is a personal matter. Perfect option — trailing stop or fix half of the position to start, and the remaining trail.
6. Close all positions at the end of the day.
For shorts, do the opposite..
Moreover, for trading stocks, he advises choosing stocks with a value higher 40 dollars and with 100-day historical volatility of more than 40%.
Connors does not describe money management for this system as he probably assumes that this is clear to everyone.. But I'm thinking, that those who just naively trade always on 100 Shares, this system will bring many surprises in terms of MM, because stop is not easy to put here 5-10 cents from a lantern, and under a 15-minute low. Therefore, in this case, the position size should be calculated depending on the size of the stop and the amount, which you are ready to lose in one trade. This also primarily concerns the academician-dropout Amadeus from masterficus, which teaches you how to calculate profit in pips regardless of the number of shares, their price and stop size, what is like crossing a bulldog with a rhinoceros. I would also advise his students, also pay for lessons not with money, and pips. OK….
Example:
Your deposit is 5000. In one trade, you are ready to lose 2% from the deposit amount. That is, you are ready to lose 100 Dollars. (interest, I hope everyone can count).
You open a long stock at a price 50,45. Stop at a 15-minute low. 50,05. I.e 50,45 – 50,05 = 0,4 — you have a risk 40 Cents.
Calculating the size of the position to be opened 100 / 0,4 = 250 Shares
I.e, in this example you should buy 250 stocks to comply with the rules of your money management.
Here is such a system.
And these are examples:
A good example — closed at the end of the day with a profit:
Bad example — stop loss triggered:
How many trader blogs I don’t read – it's the same everywhere.
CU, heaps of graphs, attempts to analyze.
But the main thing is not – how to survive, how to keep fighting spirit.
It's a pity, that I cannot create a separate section for these moments, will have to write just like that.
I have not found a description of that, how experienced traders deal with dips, cheer themselves up.
But this is much more important, than everything else.
I will say sincerely: sometimes I go home and think: “What I've done?”.
Psychological diary and clear statistics helps.
I will speak out in the diary. Then I will look at the printouts of transactions, I will compare and find a way out.
How other traders live without a diary – who knows.
Not surprising, that only five percent survive.
The rest just drown in …
Communication with experienced traders also helps.. You will talk and understand, what's in your problems
you are not alone. That others have been through it all. Everything, What do we have to do – go, don't give up.
As the old wisdom says: “the road will be mastered by the walking”.
If traders unsubscribe in the comments to this post about,
how they deal with stress and failure – I'll be very thankful.
I think, yes, that not only me :)
Alone will not survive – need a team.
Traders, if you are too lazy to leave comments – write a post on this topic at least in your blog.
It will really help people. Much more, than your analytics and heaps of charts.
remember, when I just started to be interested in stock trading, downloaded all videos and books, that I could find. As a result, there was a mess in my head.. There was no clear picture and I had no idea, how to form it.
My friend started with me. We tried to figure it out together. During the meetings, they discussed who learned what terms, who understood what.
As time went, but there was no result.
When I first spoke with Alexander Mikhailovich Gerchik, immediately asked a question:
“Alexander Mikhailovich, porridge in my head, what to do? how to deal with it?”
Gerchik advised not to flog a fever, calm down, trade, analyze deals and gain experience, and that then everything will come by itself.
Now I got it, that he was absolutely right.
Beginners need to read fewer books about trading and trade more themselves..
This is the only way you can learn.
A very important point statistics – I also learned this from A.M.
This is the only way you organize everything., what's happening. What you get, does not work, what do you understand and do not understand.
After that, how do you have this clear picture, need to sit down and analyze.
It will not be difficult to find answers to all questions and solve all problems.
If there are no statistics – it will take several times longer to reach the final goal. This is a fact and you can't argue with it..
You can try, but you'll end up with the same thought.
What I want to say with all this? Don't bother with bullshit. Filter information. And work very hard.
Then everything will be fine with you.
Successful trades and a passing trend.
Banzai!
Trading Strategies – breakout trading
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2nd of January – first working day of the new year.
Life is too short, to tell her about incomprehensible things :)
So we rested for a couple of days and to work!
Happy and profitable January everyone.
I hear, this year will be awesome!
This title is just a joke! We called this chapter the Holy Grail, because it is one of the lightest models in this manual. ADX based (Average Directional Index, average direction index) Welles Wilder, this strategy works in any market in any time frame.
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Today I decided to add my blog to the rating on the site www.stockportal.ru
See, what happens :)
80—20’s is a strategy, used by us for day trading. Many of our readers, maybe, already familiar with the book "Taylor's Trading Technique" (The Taylor Trading Technique), a reference guide for swing trading. In a nutshell, Taylor's method implies, that markets move at a natural pace, folding day of purchase, sell day and short sell day. This model is also confirmed […]
No mood, all on my nerves, twitchy, I am looking for some half a turn ):
Sitting Whiplash coding.
Нахождение хай\лоу\опен\клозов по сессиям сделал, there is not much left - to code the main algorithm for comparing this whole case and trade…
