This makes sense to me I wonder why everyone is complicating it so much. Also to let's say u have a 1 point on the downside and 2 points on the upside. I have been watching and sometimes the direction doesn't hit the 2 points exactly but sometimes comes super close. What you increase ur profit if let's say u where at 1.5 point to move up ur stop to your entry point?
smallcapgrowth Great observation. Now quantify those ratios/adjustments you mentioned within specific instrument(s), at specific times. Get your hands on fairly accurate tick level backtesting/automation software. You can use MS excel for crude quant model prototyping. Simple is good.
That's where I'm gunna have trouble I don't no anything about the software. Couldnt I just go threw tradestation and use there software?
Jigsaw Trading videos are great! Jigsaw sells trading software, but they also have a bunch of free educational videos on their website about order flow and reading the DOM. Peter the owner of the company is a sponsor here and personally trades the ES as well. http://www.jigsawtrading.com/learn-to-trade/free-order-flow-analysis-lessons/
When you are at it,you may also check out braveheart https://www.tradingview.com/u/braveheart/ If I was new to this I would go with ninjatrader platform and get someone to code Delta Force Indicator for me,so i can run it on Ninja platform. http://ninjatrader.com/FreeLiveData http://www.metatraderfiles.com/delta-force/ Most trading is done by algorithms,need all the help you can get.
why not open a journal on ET? Because I want to check regularly IF ( more how Trading) will give you what you are seeking.
Let's hope he does open a journal. "smallcapgrowth said: ... The pain motivates me." Ed Seykota "Everybody gets what they want from the market"
Haven't messed with Tradestation since 2000. It was shitty back then, if using to analyze granular data. Search this website for some options.