as of now I have it down to what I consider a max of 3 successful entries per day. the first entry often needs average # failures to enter with average and max drawdown amounts. The remaining 2 have one entry/exit allowance each. only trade most liquid hours 07:00-13:00 GMT-6 last two weeks i was trading ~20x per day at least with a high level of mistakes.
Hey, this is just some volume tools I've been working on. You can see how important this is in practice. If you're not using volume and comparing your trades to other participants, you're missing a lot of information.
I am also learning to overcome my overtrading problem. On the surface it’s overtrading but underneath it’s actually the lack of an edge to differentiate good trades from all other marginal and bad trades, I think. If true, it requires one to have more time and experience with the market. For intraday trading it’s simply more patience and waiting for the right time with a high probability.
Here's a trade I took on Monday that illustrates what I'm saying. I'm in central time zone, so entry time would be forward an hour in NY time. Notice how choppy NY lunch was, and then right at the top of the hour/end of lunch, sell stops got raided to fuel that breakout.
Aloha Padu! glad you’ve returned to ET after some time off Do you typically have a profit target, or set time you stay in a trade? I’ve read you reference scalping and trend trading and am interested in knowing what YOU do more of. I know, each entry depends on the setup/context, but in general..? mahalo! Mark
could a valid observation be that banks or larger sized algos take an initial position and offer it up to others. is this true?