I trade NQ my SL is based on market condition, from experience RR 15pt/30pt seems to be a sweet spot for me and max drawdown is set at my daily average, I didn’t do backtest cuz I feel like that’s backward thinking too many what ifs sometimes clouded my judgment. But I do keep a journal to document all the mistakes that I made, one glaring thing stand out is no SL, (I used to trade without SL) Never again!! Good luck!
Do you have any comparative experience with ES? I've talked with a guy on these boards who claims NQ to be superior for scalping and how some of his set-ups won't even work on ES. From what I understand he exploits momentum moves and arguably there's on average more momentum on NQ than on ES (which backfills more and is generally thicker to move).
I agreed with him NQ move faster for scalping than ES, I used to trade ES as well, Now I have both charts on 500ticks open to help my decision but execute trade on NQ.
Interesting....because I have heard of the opposite RR: 30/15 for instance. I don't understand why you don't trust a backtest of this factor ? Daily average of drawdowns ? How far back do you go in the average ? 10 days, 30 days, etc.
I’m using the 3 months ~ 60 days, It’s not that I don’t trust back test, I use multiple setups it will take sometime to translate it into algo for testing. Right now I just don’t have the time for it, I rather spend time to enjoy life it’s a personal choice.