Thanks for the answer. Very unique use of the indicator and it seems to coordinate well with your strategy. Continued success to you, your trading, and your journal.
Nice thread. I am a little confused though, are you trading real dollars, or paper trading? Sometimes it sounds like you are actually executing the trades, and sometimes you seem to be estimating slippage, so I am a little confused. Good luck.
The only one I didn't take was the first trade. I listed it as marginal and said I didn't take. I included it to show how the setup works. I took the others. I'm trying to give anyone that wants to give it a shot after one or two months of following along, a estimate of what to expect. My slippage and your slippage may be a little different. I have a habit of putting in my order just before the trigger bar completes. Everything from now on will be as close to realtime as I can make it.
After yesterday's drop at the end this first bar is looking like a long trigger bar. If it holds below 962.00 I'll be long in 15 sec.
Long from 960.75 stop was calculated yesterday at 3.75 so stop is set at 957.00. Nothing to do now but wait.
I don't know what this single method made last month. I use this and a advanced method to get more trades. Last month was my best month of the year for the combination. I was up over 40 pts. I didn't trade about 1/3 of the month due to laziness. Hopefully having a thread will get me out of bed. Just wait a month and you'll get see how this method does in realtime.
Thanks for starting this well written and very informative journal! Can you elaborate further on how you evaluate on these "overnight setups"? And what do you think would be a good risk/reward ratio with this system? Thanks again.