ENJOYED THE PRESENTATION. I HAVE 2 QUESTIONS.
1. CHARLIE MADE 25 TRADES IN A WEEK; 23 WERE WINNERS.
HOW MANY POINTS HE MADE IN WINNING TRADES ON BOND AND MINI SP IN THAT WEEK.
HOW MANY POINT HE LOST ON 2 LOOSING TRADES.
2. WE USUALLY DIVIDE THE DAY INTO 5 PERIODS; THEREFORE, IN TRADING TREASURY BONDS, WE SHOULD BE FOCUSING 3 TIME FRAMES FOR THE DAY.
DAILY
80 MINUTES
16 MINUTES
CHARLIE IS USING 60 MINUTES AND 15 MINUTES.ANY REASON FOR NOT USING 80 MINUTES/16 MINUTES CHARTS. JUST CURIOUS.
I AM NOT USING TRADE STATION BUT HOPE TO GET IT IN APRIL SO I CAN GET THE SOFTWARE.
REGARDING, INSTITUTE MEMBERSHIP, I AM LOOKING FORWARD TO GET IT IN FEW DAYS.
THANKS AGAIN FOR ACTIVE ROLE IN RUNNING THIS FINE PROGRAM.
M.M.
PLDOT--INTRODUCTORY VIDEO PRESENTATION---
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Trader Question
- Posts: 709
- Joined: Thu Oct 09, 2008 7:31 am
Re: PLDOT--INTRODUCTORY VIDEO PRESENTATION---
Thanks for your e-mail.
As to your questions..... Here are my comments:
1) Of the 23 winners in Charlie's trades that week, I don't know how how many points he won or lost; he didn't specify in the movie and I don't know if he kept count or not. In any case he didn't share it with me and I don't know the exact number. But if you do a scratch count you can see that it was quite profitable.
2) There's no magic in dividing the day into 80 minute bars or into hourly bars. It is strictly a matter of user preference. The point is that we need to have a good differential between the higher time and the lower time.
So either 60 minutes and 15 minutes will work or 80 minutes and 16 minutes will work just as well. It's up to you.
When you do get TradeStation, I am sure you will like it, as is a very powerful piece of software.
As to your questions..... Here are my comments:
1) Of the 23 winners in Charlie's trades that week, I don't know how how many points he won or lost; he didn't specify in the movie and I don't know if he kept count or not. In any case he didn't share it with me and I don't know the exact number. But if you do a scratch count you can see that it was quite profitable.
2) There's no magic in dividing the day into 80 minute bars or into hourly bars. It is strictly a matter of user preference. The point is that we need to have a good differential between the higher time and the lower time.
So either 60 minutes and 15 minutes will work or 80 minutes and 16 minutes will work just as well. It's up to you.
When you do get TradeStation, I am sure you will like it, as is a very powerful piece of software.
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Trader Question
- Posts: 709
- Joined: Thu Oct 09, 2008 7:31 am
Re: PLDOT--INTRODUCTORY VIDEO PRESENTATION---
YOU EXPLAINED EVERY THING VERY NICELY. SINCE YOU FOLLOW THE S&P AND TREASURY BOND, IF YOU APPLY THE SAME METHOD AS CHARLIE DOES IN THAT VIDEO, IS IT SAFE TO ASSUME THAT ON AN AVERAGE, WE MAY HAVE ROUGHLY 20 WINNING TRADES IN BOND AND THE MINI S&P.
CAN WE ALSO ASSUME.IF WE HAD 10 WINNING TRADES IN BONDS, TOTAL NET POINTS WILL EXCEED 60 TICKS TRADING ONE CONTRACT.
IN MINI S&P, HOW MANY POINTS CAN WE EXPECT TO MAKE ON AN AVERAGE WEEK. SINCE ONE MINI S&P POINT IS ONLY $50 DOLLAR,IS IS SAFE TO ASSUME TO MAKE ABOUT 25 POINTS NET IN A WEEK . IS IT OK IF I ADDRESSED THIS ISSUE DIRECTLY TO CHARLIE.
I AM HOPING TO JOIN THE INSTITUTE WITHIN FEW DAYS AND OBTAIN THE TRADING SOFTWARE ONCE I HAD A TRADING ACCOUNT WITH TRADE STATION SECURITIES.
M.M.
CAN WE ALSO ASSUME.IF WE HAD 10 WINNING TRADES IN BONDS, TOTAL NET POINTS WILL EXCEED 60 TICKS TRADING ONE CONTRACT.
IN MINI S&P, HOW MANY POINTS CAN WE EXPECT TO MAKE ON AN AVERAGE WEEK. SINCE ONE MINI S&P POINT IS ONLY $50 DOLLAR,IS IS SAFE TO ASSUME TO MAKE ABOUT 25 POINTS NET IN A WEEK . IS IT OK IF I ADDRESSED THIS ISSUE DIRECTLY TO CHARLIE.
I AM HOPING TO JOIN THE INSTITUTE WITHIN FEW DAYS AND OBTAIN THE TRADING SOFTWARE ONCE I HAD A TRADING ACCOUNT WITH TRADE STATION SECURITIES.
M.M.
Re: PLDOT--INTRODUCTORY VIDEO PRESENTATION---
Thanks for this.
We make no guarantee whatsoever that you can make the same results as Charlie did in his example movie at http://www.pldot.com/outside-mog/outside-mog.php . To duplicate these results you would not only have to recognize the signals correctly but you would also have to take action on them in a timely manner and have good control over your personal psychology and order-placing abilities and other
elements that are part of the process of trading. But if you ask if it is
possible, then I can say yes, definitely, it is, and your analysis of the number of points is probably in the ball park (though I have not counted
them myself).
When you are ready to join the Institute I will be happy to sign you up.
I'll send Charlie a copy of your note as well.
We make no guarantee whatsoever that you can make the same results as Charlie did in his example movie at http://www.pldot.com/outside-mog/outside-mog.php . To duplicate these results you would not only have to recognize the signals correctly but you would also have to take action on them in a timely manner and have good control over your personal psychology and order-placing abilities and other
elements that are part of the process of trading. But if you ask if it is
possible, then I can say yes, definitely, it is, and your analysis of the number of points is probably in the ball park (though I have not counted
them myself).
When you are ready to join the Institute I will be happy to sign you up.
I'll send Charlie a copy of your note as well.