the adventure is over for another day, all out @ 9411, mr market got his pound of flesh out of my ass last 24 hours. it's gonna happen, may as well plan for it.
PARABOLIC SAR as your exit point and/or reversal. p.s. damir according to intra-day technicals.......ES has successfully RUN ALL THE STOPS!!! Market is now poised to take off like a rocket over the next 3-4 days. This market has proven to be VERY RESILIENT!!! Your Bullish outlook could prove correct after all.
you've asking for the ET holy grail that many are searching for. a/the problem is volatility isn't constant, but if you build volatility-dependant stops you're now not only having to get the market direction right, but also the way it moves towards that direction.
I think my current stops are close to what I'm looking for; i.e. they get me out without too much trouble, and I generally do not get stopped out of a good trade. I exit myself with small profits...so it seems the problem is not the stop-loss, but my exit only. -FastTrader
True....I don't think my stops are the problem here. It's a psych issue with ME....I always exit too early. Also, after I have a couple of losses, I'm very eager to book profits (as small as they may be) just to get my confidence back up or something. That's what happened today. In the A.M., got stopped out on one trade for a 7 pt loss....got back in later, booked 8 pt profit to get me back to break-even....took another small loss, followed by another profit to break-even. Overall, down right now due to commiss. -FastTrader
do you have a systematic way of entering trades? do you have - at least in theory - a systematic way of exiting trades?