From Micros to Millions: 2% per day

I made entry and am about to exit...Lol...not enough averaging down here for me but still profitable scalps. Kinda like manual HFT ....precise ...surgical strikes.

Remember over and over I have said “GRAB them profits”.

 

Keith Fitschen, well known trading system developer, has mentioned this. He has created one of the most successful trend-following systems. However, that system is for longer term trades lasting weeks or even months.
For intraday trading, he espouses counter-trend systems....based on his testing.
Finally, my own intraday trading system that is trend-based shows poor performance for the most part.....especially lately. When the daily range shrinks, you can't expect good intraday trends.

 

No that's the devil's temptation right there. Especially on expiration friday or a fed meeting.

 

Not entirely syswizard (hereby dubbed Western Auto because of their wizard products ) because small range days in the form of SPBT days (small pullback trend days), either SPBR (small PB bear trend) or SPBL (small PB bull trend), are some of the strongest trends to trade and they can last the entire session in spite of being composed mostly of small range bars.

Examples:

 

There's no denying that...but what's the FREQUENCY of when see these kind of days ?

 

I would say about once or twice every couple of weeks.

 

I am still finalizing my max per-trade Draw Down, but on the day, it is 5% per day. At $7k, that would be $350. This would give me at least a bare minimum of 20 to 25 trading days of "air."

 

HAHA. The volatility is GREAT indeed. I am trading the MNQ routinely, and it is a crazy ride sometimes. The MES, on the other hand, has very little slippage, and I have made that my mainstay for now, for this very reason. MNQ and MYM used to be all that I traded before the spread widened (permanently it appears). When I trade the MNQ and MYM, I enter and exit with limit orders 80% of the time.

 

Great quote. But I reiterate what I said in my first post-- My daily goal is a great target, but not a requirement. I will not force a trade. I am 0% interested in getting 2% or 3% per day if I have to chase trades or do other things that might put my account in jeopardy. Capital preservation is #1.

 

@MarkBrown Sorry, just me. But I had a journal on FIO before they kicked me off, and two other journals here. So I have had lots of practice... How can I help you?