Good point. When we have a strong "clean" (clear?) trend, this would be the ideal plan. The problem is with those damn dirty (biatch?) trends.
The first thing to do is trying to master the trend. If you can do that you already have the most important part of your trading system. I said before the opening that the trend was long. Went long at 1877 and still long. About 20 points in 1 trade. No jumping in and out. How long I will stay long? Till my system tells me to go short.
I had thought that this was the case. Thank you for the reminder. I was thinking "shame on me" for having slept last night instead of standing hawk-like over my data feed waiting for a buy signal and instead having to settle for buying the first pullback (not a reversal) after the open.
Alright, I guess I owe you one. Here's one of my secrets. Don't expect anymore, since I'm really shutting my mouth after this.
This is what I've been working on for the past six months. I learned to trade by focusing on rages and breakouts. That was sort of like me learning the alphabet. "Mastering the trend" is my learning how to form syllables and words, read and write. My goal is to learn to capture 75% or more of the 1 to 3 main swings on any given day. I am also long (but not from quite as favorable a price as you) and I too have not yet been told to go short.
Actually, this noob bought the low, believe it or not. http://www.elitetrader.com/et/index...300-daily-profit.296299/page-123#post-4236269
Not to pick a fight...but it's always easier for anyone to say this in hindsight. So far, all of you have said the reversal happened long after the fact. Getting the trends right is one thing. Saying that you got in several hours ago is another.
If you do 10-20 trades a day, statistically there is a real change that, at least once, you will enter at an excellent price. I don't follow your thread but about 50% of your entries result in a losing trade. Which means that your entries are not that good. It was rather a lucky shot if you watch your stats. I just got out at 1897.75 because this profit is too big to let go, and I expect a pullback. I cannot go short and it is even possible that I go long again at lower levels. But all this is guessing, my system will tell me what to do, till then I wait.
I told in realtime that the trend was LONG and that I would never go short. I also told that I DID NOT DO THAT TRADE. As I was clearly LONG I went long after the opening. But I never post entries of real trades as I don't want others to copy my trades. Your trades are very short so piggyback them is useless. Profits are too small too, so risky. I stay in a trade for hours, so then piggyback works much better, especially for +20 points moves. I posted today because I reacted to Romik. And so by accident I was in the game. But don't worry I will not post any trades anymore. You can be the king, no problem. I prefer the cash.