Research Update

[Merlin]

Hey look at that...another 10 pts

[AgentSmith]

That is a really tight stop, don’t you get stopped out of a lot of trades?

[Merlin]

That is a really tight stop, don’t you get stopped out of a lot of trades?

Today I would have been stopped out about 15 times so...

15 X 0.3 pts = 4.5 Pts lost

6 X 10 pts = 60 Pts won



MOUUHAHHAHAHA

[Merlin]

And here's number 7

[Merlin]

Btw guys, if you want to learn a bit more about my system and my indicators, I wrote a bunch of posts on the Multicharts software that I use to trade.

You can read them all without being members of the forum.

https://www.multicharts.com/discussion/ ... um.php?f=1

Introduction is here...

Merlin-MTL : My $50 To $1 Million in 39 trading days quest

Step 1 is here...

Step 2 is here...

Step 3 is here...

[AgentSmith]

What is the spread on the Russell with the broker you are using?

[Merlin]

What is the spread on the Russell with the broker you are using?

You are thinking about the spread on Forex which is about 2 fractional pips or something like that.

With Futures you pay a commission on each trip (entry/exit) and for my broker, it's about 1 tick per side.

Btw, I caught a couple 10 pts trades today too.

There are bugs and modifications that's needed on my system but overall, it's doable.

[AgentSmith]

How is trading going, Merlin? Have the last days been successful too?

[Merlin]

How is trading going, Merlin? Have the last days been successful too?

I had problems with my broker since early December to make my software (Multicharts) work and be able to trade again and all this was finally fixed yesterday.

During these days I am looking at improving my entry points by adding other indicators or lines on the chart and I found this one.

As you can see, it adds 2 lines, 1 that kinda slice everything in the middle and the other that follows very closely the movement of the price bars.

What it does is create opportunities to get bigger profits by staying in the trade longer.

For example, on this screenshot, we can see that one trade would have brought us 24 pts instead of the usual 10 pts that I am after.

This is important because I thought about making my 10 pts and leave the trading but if there comes a big crash and 100s of pts could be done that day, I will kick myself to get only 10 pts out of that day.

This new system will help in case all hell breaks loose.

[Merlin]

For example, take a look at these 2 charts.

It's the same day but you can clearly see the up and down moves on the 2nd one. The one that I was using last week brought a lot of 10 pts but again, you can see that the new one is more effective.