Any good indicators for how many ticks to take in a winning trade?

Discussion in 'Technical Analysis' started by mbrownlius, Jul 23, 2011.

  1. Handle123

    Handle123

    Some nites no problem, and other nites the meds make me sick to my stomach so I am up.

    I go back to my morning signals for afternoon session at 13:15CDT, but cause I understand all the "normal" patterns of ES, I also know my money management rules can't be traded like in the morning and have to be traded as designed which are now most restrictive. More counter-trend trades develop, hitting protectives stops occur placed a tad beyond day session high/low and overnite high/low, careful monitoring of spreads and tripping of those stops occur as well. But like megaphone patterns develop any time which cause losses for the trend trader.

    Order flow certainly works for the trained eye but there are few patterns I have found in watching the DOME, but I have found Volume to work 50/50 in afternoon for ES, but when it does work, I still increase size. Much has to do with violating recent pivots and by how many tics, smaller amounts produces "rounding" effects which tell me a good possible reversal. But some markets and timeframes are not the same as far as Volume. Like if I trade the Dax, in order to get the Volume to be good for me to use, I have to have one minute timeframes, whereas on ES, one minute is not good to use. Take for instance the DAX 3:01cdt bar(today) with low of 7368.0, it breaks low of 2 bars earlier by a couple tics but volume triples which tells me accumualtion, so to buy above that bars' high and for a few bars, price takes off. But smaller timeframe, smaller time I stay in position. My backtesting shows me that it better for consistency to not be a hog. I let others get the homerun trades.
     
    #21     Jul 26, 2011
    beginner66 likes this.
  2. I like to use one minute volume indications for ES -- what do you find more appropriate?
     
    #22     Jan 13, 2012