Allthough I am maybe not the right person to give advice, it seems to me you are bound to lose in these type of days due to your trailing 4 point stoploss. you might wanna put a time stoploss in as well and improve your bottomline.
Today's results: 09:44 Short ES @ 916.50 13:43 Exit ES @ 910.50 * Reason for entry: Trending down. * Reason for exit: 4 point trailing stop. 15:01 Short ES @ 908.50 15:57 Exit ES @ 906.50 * Reason for entry: Downtrend continuation. * Reason for exit: Support area. Total: 8 points
I've only been trading this way for about a month. There's nothing magical about this system. In fact, I wouldn't even call it a system . . . I just go with the flow. The only problems that I encounter with my trading are range-bound days, which at the present moment, I don't have a common sense solution for.
Today's results: 09:41 Long ES @ 898.50 10:29 Exit ES @ 904.50 * Reason for entry: Previous support + gap fill potential. * Reason for exit: 4 point trailing stop. 11:34 Short ES @ 910.50 14:54 Exit ES @ 910.50 * Reason for entry: Trending up + range breakout. * Reason for exit: 4 point trailing stop. Total: 6 points
I've been thinking about increasing my stops for strong trending days to capture a larger piece of the pie. We'll see how it goes. I'll keep you posted.
The simplicity of your approach is the key to its success... not one indicator other than price! I love it!
You're trading the way i would like to, only based on price. Although i got rid of a lot of crap in the course of time i'm not quite there yet. i still have a macd and a ma on my charts. I trade the Nq and lately i've been experimenting with tightening my stops when i'm up >10 pts. I have found that to work pretty well. You might find it worth to consider it. I hope you continue to do well.
Today's results: 10:00 Short ES @ 904.50 15:50 Exit ES @ 892.50 * Reason for entry: Looking weak. * Reason for exit: Near closing time. Total: 12 points This time I didn't have a 4 point trailing stop. The downtrend looked fairly decent so I decided to ride it until the end.
Today's results: 11:30 Long ES @ 899.50 15:06 Exit ES @ 897.50 * Reason for entry: Range breakout after a gap fill. * Reason for exit: 4 point trailing stop. Total: -2 points