The morning opened slightly off yesterdays close and has worked its way progressively lower all morning.
First trade of the morning is long at 6:45 at 838.3 for -1.8. Second trade of the morning is short at 7:11 at 835.00 for +4.8.
Net on the morning: +3.0
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Mentoring: The Key to Developing as a Trader
4 days ago
6 comments:
Great Trading on 06/07. I use MarketDelta two different ways. I use it with a 10 minute chart to tell me the direction and strength of the trend. I use it on the 2 minute chart to pinpoint where to enter. I suscribe to the KISS philosophy also, as I only use Bollinger Bands and just recently Parabolic Sar to determine my decisions.
lane,
Thanks I'll check it out.
suamigo7,
Do you use a particular market delta setup as they describe in their strategies or do you look for something else?
Tedders
MD's (MarketDelta's) strategies are valid, but they do not pinpoint the entries. I had to study the market in realtime with MD to figure this out. MD does a very good job of telling you when a reversal will take place and when a trend is strong and will continue in its direction. I have been working with MD for 5 months now and in addition to their strategies, I have my own.
The marketdelta 'trade set ups' that the programmers recommend will see you lose money very quickly. There's a lot of information on it, you have to be very careful and know what info you're trading on it, its easy just to see pretty colours, lots of numbers, and make stupid trades.
I agree with Colin somewhat. Intensive study using MD is required if you want good results. The strategies on the MD website is a starting point to future research, but they are not complete. I will give my 3 day results using MD this Wednesday night (I can only trade fulltime 3 days out of the week.) I am currently a poor record keeper and this will give me motivation.
Wish me Skill!
Thanks for the input guys. I'll definately check out Market Delta and keep in mind the idea of looking for my own setups. That's something I've learned to be true with pretty much any indicator - you have to find your own way of using it successfully.
Tedders
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