Easiest System Ever (KISS to boot)!!

[tlsurfsupper]

For starters:

Any time frame:

MA 5 crosses MA 10 go long or cover shorts.
MA 10 crosses MA 5 sell longs or go short.

[tlsurfsupper]

plots prior to trading:

previous high, low, and close.

today's open.

[Flyboy]

For starters:

Any time frame:

MA 5 crosses MA 10 go long or cover shorts.
MA 10 crosses MA 5 sell longs or go short.

Any time frame? I doubt this is a useful tool for a day trader/scalper using the 3 minute-1day chart?

Apprciate your post though!

[tlsurfsupper]

Well, I was gonna show how to build from a base and add parameters to increase probability, reduce risk.....but I see my time is better used elsewhere.

Good Trading.

:)

[Flyboy]

.....but I see my time is better used elsewhere.

Good Trading.

:)

NO NO! Sorry, I was really asking a question..sorry if it came off wrong...That's one problem of being a NY'er:biggrin:...no one understands us:confused:

[Florida]

O.K., here goes,

Providing you have already done all the preliminary work, like reading some good books, (not the "get rich quick" books, but real instructional books on trading and chart reading), determined what type of trader you want to be, and determining how much you are willing to loose before giving up, then and only then do you move on to actually setting up your screens and trading.


Take all the indicators off your screen except the candles and volume

Forget about paper trading, it is useless, trade with real money

Trade 1 share at a time in the beginning. (If you are worried about the commissions, don't, just look at your p/l minus commissions to start with. If you cannot afford to pay the commissions on trades at the beginning with no hope of making them back on trade, then you cannot afford to trade) Once you are profitable, excluding commissions 2 weeks in a row, move to 10 shares per trade, then 100 shares per trade after 2 weeks in a row of profitability and so on. Should you have 2 weeks in a row of losses, revert back to the previous level.

Know your exit, both profit and loss before ever getting in the trade, (determining these levels is all too involved to discuss here, if you don't know how to do this, go back to the books)

Start out with swing trades, entering one day, and holding at least until the next day.

Trade with the trend, and only with the trend, (if you don't know what a trend is go back to the books again)

Trade with the market, don't try to go long the stock, if the market as a whole is pulling back

Trade only long plays to start with, forget about the shorting, it can be confusing to new traders, not to mention dangerous

Only take trades that give you at least a 2:1 reward to risk ratio

NEVER, NEVER NEVER talk yourself into staying in a trade longer than your original plan for exit dictates

Never have more than 4 or 5 trades open at a time when swing trading, take your time on finding the right trade and letting it come to you, do not force a trade just to be trading.

Once you have become comfortable with swing trading, you can move to daytrading providing you meet all the legal requirements, (refer back to the books if you do not know what I am talking about).

Start with the 1 share per trade, and work up through the progression steps listed above.

Until you are profitable at the highest level of progression, do not have more than 1 daytrade on at a time.



If you are not willing to put the effort into doing these steps, then you will most likely fail. If you would like more information, you can ask, or PM me.

[Gordo]

Good stuff right there Florida.

[Wonder]

I hope people listen to you...