Aaahhh. I see. Obviously the ES does not have enough liquidity for your needs. I get it. Can you donate me $2,000,000 ?. It's for a good cause, I promise.
And you could have many small losses that will eventually equalize your so called "big" gain. So the question is, what's the difference from averaging down with a drawdown for a while till targets are hit, and someone taking small losses over and over again till they hit their targets? Under certain PA behavior, one methodology will do better than another, and vice versa. Mine seems to be working (so far). How long will yours work. I don't think anyone knows the answer precisely until they look back and analyze their trades. Our stops will get hit whenever the market decides to hit them. we have no control over it. P.S. If you don't like my trading style, don't hesitate to put me on your ignore list, since you've already put me on your disregard one
Based on the 60 and the 240, I believe this is unlikely to hold. It could of course, but I think it to be unlikely. Looking at the 240 though, if it snaps back from this level quickly it could be a real nice rally. I'll stay short though for now, with the prevailing trend.
---Suggest that when trading targets, the target needs to be at least 3 times the stop. I do not trade targets, because I would like to get more than 3 times when right. --When trading with a 1 to 1 RR, then you have to be right more than 50 percent of the time due to commissions and possible slippage. When trading with a target that is less than 1 times risk, then you must increase your "right" percentage to unachievable levels.
Several people have demonstrated more often than not that oscillating trading works, because that's the nature of the beast. Unless you're holding a position in the direction of the trend, and the market is trending strongly in your favor, your trading style is not superior to others. No? You also mentioned that you put full position on all at once. So your loss is big from the outset. Many people don't like to trade that way. They like to ease into their position, and get a good feel of the water they're dipping their toes into before they fully submerge.
2 things: 1) The psychological effects that can cloud judgement when losses grow exponentialy 2) There isn't a blow-up potential with small losses. There's too many things that can go wrong with any trade, regardless of how effective one's strategy has been. Personally, I assume the worst case scenario until the market proves me wrong.