That's why I have been for sometime thinking to use "a % of daily range" as measurement. Not sure yet!
The more I think about this the more sense it makes. The MAE/MFE/Velocity micro manages the trade set-up....The Days Range cold be used to guage whether one is taking what the market gives.... Good Idea..... Michael B.
Half-full would be one of the most important psychological set-ups, besides technical. So-called Random may not be truly random. And, so-called Real-time on ET may not be really real-time.
Boomer (the author to this thread) has other concerns that he needs to address. The ramblings of 2 traders are a bit more specific than this undergrad is looking for. Boomer? Michael B.
Profitability is static and arbitrary based on ones expectations, but expectations are not valid as the market will not listen. Following a plan is discretionary and requires a trader to listen to the market and adjust after the fact, to get what it MIGHT give. Drawing lines in the Sand......well I prefer to work with the discretionary side Michael B.