Porgie, I need to ask a question here concerning your trading. Would it be safe to assume that you are catching minimum ticks with your trading. Is that the strategy that you are using? I am guessing that this is where a system generates winners at the 90 to 100 percent range intraday.
i will say that the points captured are determined by the move.....or run as it is called......big run big points.....short run short points.........the system is the result of massive time and effort........it has given 75 of 75 for last 7 days....it can't keep that up.........impossible......intraday tradin g YM only but it works as well on all emini's.........., just bringing others along with me slowly but surely.......they fight me all the way believ e it or not, but family is family.......brother and daughter........brother is genius engineer and porgie is dumb but extremely tenacious.....daughter has rattled emotions due to following each day for last year as s ystem evolved.........too many changes for her to get comfortabl ebut now is settled and moving right along........take all you have learned if trading other stuff and t hrow it out the window if u r daytrading emini's........it will only trip u up..........the problem with assuming money management will keep u going is the questions come into mind......is this trade another loser , or is this one the one that blows up in my face........high % is the only way to survive for all but the rare ones...........and high % is rare as well.......just don't expect an easy trip based on any other trading .......it is bette r if u know nothing about trading when u start........
I agree with you trying to catch some bigger moves. Could you clarify the point about about exit at entry. Is this after you have some profit, then you set a breakeven stop?
Here the observations about the TICK Index in hard code. Signals are only taken by TICK, not by price, Triggers were -500 for buy, 1000 for sell, stop and target = 10 point YM, timestop after 15 min. It`s just a study about one day, working probably only in low volume rangebound environment in this way, just to show my observations about TICK-Index and reaction to price on friday.
Hello B1S2 and gang, hope you all are having a wonderful weekend, I am sitting on my balcony and having a cigar n' a Manhattan, lovely jubbly, admiring a brand new Fairline Squadron...will be mine one day Anyway, to answer your question. The answer is Yes and No. Did you read all of my previous post? Depending on what the market has to offer there will be 2 positions open, I'll have 1 position working from the open pretty much, the aim would be to try and catch the big moves when they occur, so I would hold until the time when I see a definite market reversal happening or my initial point of entry is reached not making/losing anything on that trade, apart from commissions. The 2nd position will be 1-2 point trades on the primary.
============ Helpful points Spike; however some scalpers I am reasonably sure do well using tick charts or bid ask ladders. Frankly like larger candle chart frames , hardly ever even look @ a 1 minute candle for thoughtful reasons you mentioned; bu did click on a 1 minute candle once this year, trend got so extended realtime, looking for reason to exit.
you guys should listen to spike while he is willing to talk.........he is rare on forums as he knows what he is talkin g about.....he really does know what he is doing.....no one is going to give the best stuff ..........but he is giving some great th oughts........way past the early entry stage.............seriously.......