That's a great chart Anek with a very common bread & butter setup, maybe the OP, will reconsider his knife-catching technique in favor of taking high-prob trades ... or maybe not. Over on the ES Thread, Saxon22 has his loss limit at 15 G's ... you guys sure do know how to roll. J Jam
Those are nice triggers, just not my style. There are many, many ways to make money in the markets. If trading triangles works then use it. It just doesn't work for me. I had to come up with something different and trading extreme price movements is what I found works best so that's the drum I beat.
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It seems that there are many people who are slicing this market in an unorthodox way. More power to them.... I mean us.
This is a very nice profit curve! Early on, mine looked like an accelerating growth curve, which bothered me because it was exactly the kind of short trigger I looked for. A few days later it looked like a stock market crash Since that time it's become more of a steady, sustainable growth curve like yours. Nice work!
for pete's sake, this is the opposite of prudent money management. it is ESSENTIALLY a martingale type strategy. which, as another poster pointed out - which works until it doesn't if you have positive expectancy setups, you don't need to (nor is it optimal) to keep adding on size when you have a losing trade. the idea is absurd. yes, the market is (generally) a regressing to the mean market. the problem is - if and when the bottom (or top) falls out (as it does sometimes) you end up with massive losses. if you are a good trader, you can develop setups with high enough expectancy that you don't have to do this doubling down rubbish. you can make RANDOM entries and make money with this double down method - for a while. until you get wiped out. it's gambling. that's all you are doing. the idea that you think the market is random (which is absurd), shows that you don't understand the market. if it WAS random, no trader could develop setups that work. work WITHOUT doubling down over and over until you show a profit. i might add i LOVE traders (and i use that term loosely) like you. you are the gamblers that MAKE the market so predictable. that ensure wonderful cascading price action when you get margin called, stopped out, forcefully liquidated. you might as well just send a bunch of traders your money NOW. save the middleman (CME). the result will be the same
You have no idea what you are talking about. The comments you just made are based on a method I presented and nothing else. You have no idea what my triggers are, or what my track record looks like. You talk about...."i LOVE traders (and i use that term loosely) like you. you are the gamblers that MAKE the market so predictable. that ensure wonderful cascading price action when you get margin called, stopped out, forcefully liquidated."......This is exactly where my triggers are. All of this causes extreme price movements but extreme price movements can become more extreme, which is why this system is so important, and so successful. I have used this strategy in ALL market conditions, over many, many years. It's not the type of system you can throw a back-test on and say, "Ah ha, see it doesn't work." There is a great deal of judgment and skill involved. You are completely discounting the merits of the system, based solely on the system. There is another ingredient to it that you are ignoring -- the person operating it. If you put 2 carpenters (same saw, same piece of wood) on a compound mitre on a piece of crown molding you will get 2 different looking mitres. Why? One is more skilled than the other even though they are using the same tools. Trading is no different.