Okay metod that works nicely, well and easily TICK!!!!! 2nd problem, currently with no fixed Exit place ( Margin level I keep near ) I run the risk of getting emotional on the wrong side and giving back a lot of gains very very quickly. Okay over $500 that's 12% area today, that's a 100pt trade against me, to get back to BE today or this week whatever, so looking pretty good. Right where to place a fixed SL, rarely be hit by mistake, willing to risk some pts obviously cause of that........... Did a lot of 42sma BB testing, to slow to trade with, not enough setups, but good results, so 42-3.0, looks like a good range to base trades on and perfect SL placement wise. SL hits, it's going the wrong way, look to take opposite trade, not same trade being a dumb ass. Not jus breaking, think a long, if market goes below the highest recent BB point then that's the SL, cause obviously BB will expand for ever more very nicely. Sounding like a vague plan, will refine and fire for effect later!!
42BB 3.0 is testing well so far, few false break outs, range is respected well, opens up new trading setups range wise, at times I'll run the SL under the 42sma during stronger trend, 42sma breaks also likely game over. 42 being a hitch hikers guide thing, the meaning of the life and everything! Got 13 in aswell, an unlucky number, lucky for me, 9/10 times, even when all the lockers at the gym are full, 13 is free so I use it and 9/10 know where my stuff is! Moron's that believe in luck, I thank them!
GOOD Day, not had a good day in AGES so NEEDED this, just got to be in a playful game playing mood, I treated it like a game, I'm good at games and hey presto a weeks wages Take the trade and see, manage the out come, don't worry to much about the initial entry, if it's a setup it'll do, if it looks crap 2mins later exit ( fair few for $10-$20 ). Simples!! Few more days and I might be quiting end of the month after all! LOL
That's the 1 1/2 hours ish I was trading, first trade I lost, I always lose first trade LOL Long 9828 then 22 bailed 22 on both -$45 area. Then basically, uptrending, so Longs pretty much on all pull backs. 13:48 area, played a short 9833 then averaged 9845, flipped and went long on the pull back to lower BB 14:08 area got lucky, could of RAN wild, BB tightened good odds it would test the low. Simple, if you let it be Didn't have the 42 stuff on then, makes for a clearer, we are going up! Exit's top of the 42BB where good aswell.
Yes Scalpy, I'm generally too fearful to be good at scalping, guess just having a good day ?? Sadly, I'm back to thinking scalping is about the only way to play this game, and DAX 1pt spread, no comms is my scalp of choice. Trading at $5 per pt currently, at this rate I'll be trading at $10 per pt, then same trades $1000 in 90mins. Tight Stops have been my issue I suspect, too many spikes I ignore or average down on that'll hit the tight SL, fear is the enemy, remove, risk more and stops the entire death by a 1000nd cuts, moving your SL's losing focus and hey presto good profits Will try to trade at work again tomorrow, being paid well and making on the markets sweet Thursday Friday kept free to trade hopefully!!
Buddies of mine had made huge day today when they have normal much smaller days, they tend to go for large trades on all days but they are not consistent to how I scalp, I prefer to try to break my records of being as profitable in weeks/months than being profitable 2 of 5 days and hoping the 3 losing days were small. I just see it as if I am not losing often, taking at least one tick on all trades, it will add up, I like trading one hour day session and maybe one hour pre-market on report days, I like trading Crude Oil, Euro, DAX couple hours before ES opening, I just don't have desire to watch all day, make it and leave to do other things. Risking 22 ticks? Seems high to me, and when risk is that high, I would do 2 tick breakout then let price retrace to sensible risk. What are you calling trend? Slope?
Its when i try to time turns i fall over, fhop with trend if there is 1. Trend is pretty much defined by 13sma direction, although i can buy near the BB low just as its turned, putting the 42sma back in the mix to, maybe? I wont trade to long, hour or so, 2 sessions per day, when the volatility is high and no news planned to create big losses. When ever i try tight SLs i suck, when i stop i do well, then catch a runner against me, keep holding all the way, averaging down and get slaughtered, then back to tight SL, ive reduced marhin to 50:1 so can only have 2 positions, keep my margin close, being hit 15% account loss at the moment as near going to $6 per pt. Somdo, what i was doing yesterday and learn to minimise big losers, sadly cant retire till i crack that. No trades yet, being lazy, few sim trades all fine, regretting being a wuss.
not had the time or functional brain and willingness to play the game and take the chance yet, but it's growing Party last night, home 4:30am up at 7:30am, broke up a fight, got in a fight, escorted a drunk home, chatted up a very nice blonde police woman LOL with zero drunk I'll add. 42 rule holding out well so far. Just a matter of not over thinking it, taking the chance when the odds are with and repeating, avg down on a move against or exit, the hard part is not the entry, it's what to do after.