Hello Traders, for those of you that have not checked out the TheTradersRoom.Com that I am the lead moderator for I highly recommend it. We have been maneuvering through the markets pretty well and it is all based on my technical skills which I deem to be superior and my proprietary channel system that I have developed for the past 2 years that is finally starting to pay off.
When developing your own system you must understand that it is going to be a trial and error process. You are going to have to set rules and guidelines on your system that generates a buy signal and a sell signal for a possible trade. You then also have to make sure you have the correct risk management parameters in place so you don't blow up your account while testing.Last but not least, you want to make sure that the system you are developing fits your trading style.
I have posted below a snapshot of my proprietary channel system that we used to trade on Friday. It is a 30 min chart of the /ES. I have found out that this time frame is the best time frame for me with the type of strategies that I use on an intraday basis. It allows me to see the main levels that are holding up on the channels every 30 min. For those that have been in my virtual trading room for the past 3 days, I am sure you can see how this chart has been guiding us to profits very well. Come check the room out at TheTradersRoom.Com password: Remote. It is Free so come check us out !!! Also anybody looking for a firm to trade with, contact me and I can give you more details if your interested. Have a great weekend and I will try and get a video out this weekend.
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