Big Mike's Trading Blog

Day trading futures, discussing money management and trade management techniques, and more

Recap 05/18/2009

Here is a short video to recap today's action. Everything went very well today, I took several points cash and about 10 points on sim.

The DoubleMA, used as support/resistance, really did its job today and kept us from falling for those short fake outs, and on alert for the short failures so we could jump back on the longs. And we did, and it worked, and it feels good!

On day's like today always look for the short failures and then jump back in long. Your indicators should help you do this, telling you when it's just a short failure, or if it is a true reversal. Good indicators will also help you measure the strength of the pullback.

I only took one short today and it was a risk (it worked, mentioned in video), the rest of my trades were long which is where the smart money was.




Download HD full-screen MP4 video

Mike

16 comments:

Big Mike said...

If you guys want to have me test out some of your moving average values for the DoubleMA and compare them to my chart, just give me the settings and I'll post back screen shots with yours and mine on the same chart.

Mike

Andrew said...

Thanks Mike

Anonymous said...

mike i use now DoubleMa with EMA 5 and EMA 55 as guppy trading. nice entries ( i think there are the same points as hma 7 and vma 45 or hma 3 and vma 20)

best regards
wh

only ema, because all my rules based on ema ... without TrendBars (better with Hull)

Anonymous said...

and no ehlers and so on. mike do you know 123 pattern with move, correction and trend ...

and do you use an consolidation filter to eliminate whipsaws ???

wh

Big Mike said...

Hello wh,

I do not use any filters for whipsaws/chop, I just follow my rules (as mentioned in this video) which will automatically eliminate most chop.

Here is EMA 5/55 vs my DoubleMA (mine is bold line):
http://i39.tinypic.com/osstww.png

And HMA 7/VMA 45 vs mine:
http://i43.tinypic.com/2wroj9w.png

They both look very good, good job.

Mike

arneunruh said...

hello mike,

i had not the time or better the joy for backtesting, but with this option it looks really good for scalping pips. the screenshoot -- to much input or options.
basic system with only 1 currency pair.
scalping system 2 pairs with (i dont now ... ) i like the trend ....

http://i39.tinypic.com/1zb73mv.png

best regards
wh


I revised symbiose and delete all atr based indicators ...
1000 roads lead to Rome ...

Anonymous said...

hello mike,

is the "Mike_Trend" indicator available for download on your blog ? I have always been using CCI based indicators but your Mike_Trend looks very interesting..

thanks.

cunparis said...

Why do you believe the smart money was in longs? I think that was the dumb money. No problem trading with dumb money in the short term though.

Anonymous said...

does anyone know how wh-arneunruh got the bars in the right 2 charts to color like this? http://i39.tinypic.com/1zb73mv.png
thanks...sam

Anonymous said...

hey mike can you give us the mike trend so we can all tweak it,i think the more people working on it and tweaking it the better and faster it will get done just a idea, if your not comfortable with that i understand...sam

Anonymous said...

Hi Mike,

"Mike trend" indicator is really interesting for me as well.

Regards,
Edv

Big Mike said...

I will release Mike Trend soon as promised. But I am making drastic changes to it almost daily, so do not want to release it until it is closer to being ready. Otherwise I would feel compelled to release an updated version almost every day or two, and that is too much work for me.

If you've watched all my videos and read the posts I've already given many details on it, letting you know I am using a TrendStrength and ADXVMA and %R (was previously CCI) for the plots, and just wrapping them up in my own style.

Mike

Anonymous said...

hey wh or mike can one of you tell me what paint bars wh is using in his/her right hand charts i would like to try them out for myself if i could figure out what program that is thanks...sam

Anonymous said...

hello sam

its a own creation based on adx, cci, std-dev and a lot of emas ... put all together and shake it.

wh

Anonymous said...

hey wh do you have a zip so i can play with it?...sam

Anonymous said...

sam look here
http://ctrlbrk.blogspot.com/2009/05/more-about-symmetry-and-my-system.html

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