Wednesday, August 22, 2012

What Pays?

Opinions do not pay.

Other people's strategies do not pay.

Fear does not pay.

Greed does not pay.

Taking 3rd rate trades because you are bored or impatient does not pay.

Anticipating a proper entry and entering early does not pay.

Waiting for your setup to emerge pays. 

Holding onto winners as long as the trend is still up pays.

Letting losers go immediately does not pay.  But it does pay in the long run.

Reviewing your trading system every day pays.

Being honest with yourself pays.
Taking responsibility pays.
Hard work pays.

Tuesday, August 14, 2012

/cl 5 crossover 33

1.  /cl dips to  ONE TICK below yesterday's low of day.

2.  Two long tails form.

3.  ENTRY SIGNAL:   5 period MA crosses above 33.

4.   /cl  instantly moves 30 ticks  with no heat, no wait.

Key elements:  Know your longer term  support/resistance areas.    The 5  crossover 33 entry will work best when coming off support.   Or as a short when running into clear resistance area.

The entry should start to be profitable immediately.  If it stalls get out.  If the 5 period MA crosses back below the 33, get out.

This is pure trend following.  You either make a lot or lose a little.  Don't give it time.

Friday, August 10, 2012

New Look

Shifting to two minute Heikin-Ashi candles.  Key is to avoid the long tail stop-hunts that precede big runs.

Today  /cl dipped and dived then rallied on  ethanol news.  5 over 33 period MA crossover got you in a "little late" -- but got in right as the action heated up.  And no heat for you.