Your definition of $tick is a little off. The $tick is the net change of all NYSE stocks on an uptick minus all NYSE stocks on a downtick
Good morning. Just for the record, I do not like trading on Friday the 13th. Also, I generally do not take a position using my system until after the initial chop. This is not always the case, if I feel I can call the morning run and I get a good signal I will take it. I will do my best to post trades today. Thanks for the $tick lesson. Looks like I should learn about this. Again, my goal is to make my system as simple as possible with few indicators.
For anybody tagging along, price has made a double bottom and a signal may be generated. I will not take this because it is the first signal after a strong move down. Let's look for the next one. Also, at 10:00 there was a trade I call a HOTT trade (Hop On The Trend) that generated a signal. I will work on getting info on this in the thread over the weekend.
Again, long signal generated around 10:25. Would not take this is such a strong downtrend. If another back to back signal is generated, I will take it. Am more comfortable with short signals right now.
Long @ 988.25 SL -2/TP +2 VTDB Well this is going nowhere. (Except the wrong way). The signal looked fairly strong. Guess it just can't battle upward. Stopped out as I type. I wanted to point out that this looked strong because I also got a simultaneous signal on the 3M chart. Again, you can improve the odds by only taking signals "with the Trend".
I set my Stop Loss (SL @ -2) and my profit target (TP @+2) I will try to be clearer in the future. I am trying to post as close to my actual trades as possible and it is not easy. Too much going thru my head.
Okay...that's what I was afraid of. That's not going to work chief. You can't risk $100 to make $100 and expect to be profitable. You need to try for about a 3-1 ratio. And $100 is too much, I think. I'll make a few paper trades today and show you basically what I would try to do.
Thanks. I realize the PL ratio is not where it should be. This is one the issues. I don't always go for only 2 points profit. I would really appreciate any advice on this. Thanks very much Breakout.