Wednesday, June 3, 2009

Video Update + My New Method Explained

I decided to do videos tonight for the first time. I finally got my mic working and thought i'd give ole Jing a try again and get some videos explaining updates on this blog, my deadlines, profitability, etc as well as my new found discovery which i'm trading from here on out.

This came out of the blue, it goes against everything i've ever looked at or tried but I like it, its consistent, it works and its going to be my winning method from here on out. Oh yea, and i'm going to share it with you all.

I recently started reading this blog http://www.fourhourworkweek.com/blog/. I highly recommend checking it out. Its from author Tim Ferriss of the "4 Hour Work Week" and while some of the blog is focused on business, marketing, traveling, random pen tricks, it was just a really good place I stumbled onto when I was depressed after having a losing streak on monday prior to this discovery. Reading a few of his posts on mental performance, stories of overcoming opposition and making the biggest discoveries in the 11th hour really got me back into it.

I may fail at this profession this time around - but i'm going to give it hell for the next two weeks and either rebound or go out with a bang. I've got nothing to lose and everything to gain. Stay tuned.

Part 1: Update on blog, my deadline.
http://screencast.com/t/VXAYRnTU

Part 2: The new discovery - Intraswing S/R.
http://screencast.com/t/AlGRsnvfRq3

Part 3: More examples.
http://screencast.com/t/z0DKYdZleA

Please give me feedback on this methodology!!!

13 comments:

Anonymous said...

basically looks like you cherry pick your examples, you will get chopped to pieces, you might want to take a look at my rolling pivots
http://i43.tinypic.com/331d0dl.jpg
indicators are from Big Mike blog
http://ctrlbrk.blogspot.com/

Michael said...

Your new format looks good Matt!

E-Mini Player said...

I'm rootin for ya man! Btw, have you considered applying the same concept to a 5-min chart?

Matt said...

Yup. Same shit works... just fewer signals.

Most times you can get away with a 8-10 tick stop.... and some of the moves go for a good clip... 2-5x's the risk. Now holding for that is another thing.

I'll be content locking in 2x for the time being.

E-Mini Player said...

Dude, what's up with you never being on Yahoo IM anymore?

Scalpwiz said...

I like what you said in your first video about how when a person is facing a situation where they must act/succeed or its all over, that they have the capacity in this moment to make a breakthrough. I believe that is true, it is at the precipice that we change or face obliteration. You are indeed at the critical point in your career, but this is also probably the best position you have ever been in. I wish you the best of luck moving forward.

Syed Omar said...

good luck. All of sudden reminds me of brett's quote, trader's spend so much time looking for setups when they're actually being set up. it's a scary thought but in the world of trading, you either kill or get killed

Matt said...

E-Mini - I was on all yesterday! Where were you?

Thanks for the well wishes gents.

Richard said...

This pattern does happen a lot in charts. I used to do an end-of-day stock screen for stocks 2 or 3 days off recent highs and lows. I would play the breakout, or the reversal, or on a good day I'd play both. If I were only going to play one, I would lean toward the reversal, since you get a little extra propulsion from the breakout traders who are in the red. So, I think the concept you have is alright. I'd probably try to filter the trades with volume so I'm not relying on pure price, though. I assume you've gone back over a couple months of charts and found every setup, and seen that the statistics work out in your favor, though, so good luck!

Spider said...

While I can't comment directly on your method it does remind me of the way Al Brooks trades. He uses a 5-minute candlestick chart with only a 20 period moving average and trend lines. I have two presentation videos where Brooks discusses his method. If interested you will find them under the "Video" folder here:
http://public.me.com/jrswanson

E-Mini Player said...

I started reading Al Brooks' book today; excellent stuff!

mtcx2009 said...

If you have to walk away from trading, at least you were in there with real money and doing it. That is an invaluable experience on many levels.

If you have to walk away, you have not failed. The markets will always be there. You can always backtest at night and come back to it with varied levels of interest throughout your entire life.

If anything, try to enjoy the next few weeks, win or lose. Once you begin working, the time you had at the screens will seem like a real gift.

Matt said...

Thanks so much for that Al Brooks video... i'm watching it right now and it looks fantastic!!!