My Blog mostly about daytrading the US Markets....
Hi AM,I am reading your blog for a long time and you always was an example for me how to be a discipline trader.I must say that I can't understand you for the 3-4 last month.Please tell me, because I'm very curious, why you dropped your wining strategy (working with 15 min' charts in 2008,2009,2010 years) and started something new with no experience in this kind of trading.Something bad happened to you since you changed your trading.Thanks and Good Luck,Alex
The 15min strategy worked really well for 2008, 2009. But then the performance dropped off. If you look at the 2010 records , I am at best making a few R per month. The gap and go for 15min (which is my core approach) weren't really having any follow thru. Hence the move to try to trade the 5min so that I could capture the move earlier.If you are making good profits on 15min then stick with it. But I haven't been able to.
What's wrong to make a few R per month???Your R is 2% from your account, am I wrong? I don't think it's right to change the system after one weak year (still green year).But it's of course up to you. It's your business and I'm just telling you my opinion.
My R is 0.5% of my Account. So for say $32k account, I am risking $160 per trade.Thanks for your comments. You could well be right in that I have convinced myself not to trade the 15min charts. However I have still followed the 15min charts earlier (as a paper trading exercise) this year and the performance was no better.
Sorry to hear it.your posts were very helpful - hope you will find your way back again :-)BTW, you also read trader x site. he still keeps on posting trades in the gap & go method. do you know about more traders that find its not working any more?
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