I found a group of online traders back in 2005 when I was getting serious. They had just moved to iHub and they were doing well. Nocona was by far the best of them all. He had a 5min system he called his Retirement System. To this day I can not trade his system. But it was my first real effort of working with technical analysis. I could name maybe 10 people who use to post, who for the most part just left the boards to trade on their own without all the distraction. I am really one of the few left. SPD has been around with me for years. I have thought many times about leaving, but in the end I created a new board dedicated to cycle trading. Eventually I ran off all the traders who were not serious. Jaws came along about 2 years ago and we hit it off immediately. You have been a good addition also. I also know that there are several who watch my board but seldom post. And that is okay. So why am I still here. I know that I don't know it all and I continue to learn key stuff every week. You have added to that. So I am still around for me, and if I can help others a little, I am good with that. Two names that will come up in just a second are David Larew and Michael Marlatt. I haven't talked with them for years. There was another poster, who I can't remember his name, that would always close his post with "Life is too short to drink bad beer." I follow that like a zealot!
So I have spent hundreds of hours studying other people's charts and systems and then developing my own. I have tried all time frames. I was successful with the 60min for a while, but the trading was too intense to keep it up.
But what I did learn about myself years ago was that while I was not so good at coming up with systems, my ability to recognize a good TA, adopt it and tweak it when needed was pretty good.
I picked up MACD (80,90,10) from either Larew or Marlatt. Later I tweeted it to 65,90,10. I also picked up the 4 phases from the same one. It is interesting that all serious trading books talk about the 4 phases, but nobody uses them. I do and they work in any time frame.
Then about a year ago Jaws and I were trading what we called the RSI2 system which I adopted from another one of my former board members that I had to ban eventually. Even thought the system was working well, it had some issues that bothered me. Then Farooq posedt how he was using a MACD(3,8,1) system. It matched very well what RSI2 was doing, but I liked it better because the signals were very clear using xo's.
I also have learned over the years that one of the biggest mistakes traders make is to exit their trades too early. I saw many times the market take off after I exited a trade. That was before I had learned much about waves and realized I was just getting take out by a wave 2 or 4.
I also learned that a good system was fast to enter a trade and slower to exit. Most bottoms are V's, so delay long and you miss the start of a good trade. Exit too early and you wave 3. This was painful to learn. So to what Farooq gave me, I added the MACD (5,20,1) for a slower exit.
I have used the same concept with my weekly long term charts. Buys use the M7,20 and sells M34,50.
Another reason I never minded sharing my work because I knew that in 6 months I would be doing something different. This is why I never starting posting any of my charts on the pubic boards.
Jaws and I also followed Joanne Klein (#1) and Ron Walker for a long time on the SC Public charts. We picked up lots of ideas. Larew and Marlatt still post on the public charts. They are worth studying. Anthony Caldaro is committed to Elliot Wave trading, so he is good to study also. But I also learned that counting waves is an art and subject to lots of corrections needed, so I have never seen anyone who could trade with EW alone.
I also have learned that each trader has to find what works for him. I don't think I will ever be a day trader and at this point I really don't care much any more. I like were I am and I like how I am trading. I always look for new ideas, share what I doing, but could care less if others follow what I am doing. It works for me, but each trader has to find a system that matches their personality and experience.
So this board is about sharing ideas and it has been successful in my eyes at doing that.
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