Hi TJ
Just continue what you started. It is good work and if fellow members feel to say some thing, they surely will do so. As you test your system by your self, there is not much to say. We see, what you show us in your post and pictures and it seems that it works on paper.
No system is perfect and if it gives you some wrong signals or you made a wrong analysis, get out of this trade. Keep this rule in real trades at first, when ever you come in trouble. Fine tune your stop losses and if you have made up your mind about where to have it, keep it stupidly in your head and do not change it during a stress situation.
You then maybe will have many small losses. As long as they are smaller then the amount of money you make with your winning trades, you are on the right way.
By the way, there is no trader out there which not makes any losses and there is no trader out there which always gets in, when market is on the top low and gets out when markets are on top high. If told so, they are layers.
For entries, we can be near such levels. Even than, we have to test this levels ( because maybe a chart pattern occurred or lowest volatility occurred or the volume print showed some thing or bid ask spread has tightened to nothing and so on ) with real trades and this can bring some losses, which will be small if done the right way.
When we exit a trade, we need clear targets where to leave the market. If market runs further in the same direction and we are on the winning path, we place cash profit stops. In that way, you will keep your profit, when market turned on a swing high and falls back.
As long as you have a clear picture in your head, how to follow your rules on the chart, you will make money.
One thing you may should consider is that you not should buy options before long weekends. Depending on your ideas, the options are normally over priced on those Thursdays, as the market makers have already implemented the time decay.
Take care
DanPickUp
Just continue what you started. It is good work and if fellow members feel to say some thing, they surely will do so. As you test your system by your self, there is not much to say. We see, what you show us in your post and pictures and it seems that it works on paper.
No system is perfect and if it gives you some wrong signals or you made a wrong analysis, get out of this trade. Keep this rule in real trades at first, when ever you come in trouble. Fine tune your stop losses and if you have made up your mind about where to have it, keep it stupidly in your head and do not change it during a stress situation.
You then maybe will have many small losses. As long as they are smaller then the amount of money you make with your winning trades, you are on the right way.
By the way, there is no trader out there which not makes any losses and there is no trader out there which always gets in, when market is on the top low and gets out when markets are on top high. If told so, they are layers.
For entries, we can be near such levels. Even than, we have to test this levels ( because maybe a chart pattern occurred or lowest volatility occurred or the volume print showed some thing or bid ask spread has tightened to nothing and so on ) with real trades and this can bring some losses, which will be small if done the right way.
When we exit a trade, we need clear targets where to leave the market. If market runs further in the same direction and we are on the winning path, we place cash profit stops. In that way, you will keep your profit, when market turned on a swing high and falls back.
As long as you have a clear picture in your head, how to follow your rules on the chart, you will make money.
One thing you may should consider is that you not should buy options before long weekends. Depending on your ideas, the options are normally over priced on those Thursdays, as the market makers have already implemented the time decay.
Take care
DanPickUp
