Can one of you good traders tell me what I missed? I didn't see any big news announcements scheduled for this afternoon or anything. That was the longest trend I've ever seen ever.
Yeah. I was selling every x ticks it moved against me which was based on analyzing previous data. My first sell was at 1633.50. My last sell was at 1665. I had never seen a > 20 point run that didn't retrace before. Had I been capitalized enough to keep selling up through 1684 I would have made an absolute killing when it retraced to 1680 (it went all the way to 1674). I'd never seen such a huge move without a retrace (according to my parameters) ever. Oh well. Guess I better rethink my parameters (or start with a higher starting balance). Selling at a greater interval than every x ticks like I did here would have ended up making me money in this case, but losing money in every other case. Interesting experience. I'm glad it was demo and not real
In real life, yes. On this demo account, no. The reason no was because I hadn't come up with a formula as to where to put my stop to maximize profits. I had experimented before and EVERY time my stop was hit (at a set dollar loss amount), the market would reverse and agree with my counter trend 2 ticks after my stop was hit. So I said forget it, and replaced my stops with counter-trend orders. In the last few MONTHS I had had a couple losing days. Until today The funny thing tho is IRL i would have stopped already because I met my daily goal hours ago. But in demo accounts I just mess around to see what could happen. I found out today!
next time read RFT's blog. Called the bottom last evening, and announced it live. Both are on RFT's blog! (and also at ET, and other place, where he is insulted when he called the bottom).