Live action, as I'm here, kinda SLOW!!! 13's turning down so be looking for shorts near the upper 5 or upper 13 (it's vague LOL ) Much less BS as near, this is the direction GET ON IT!! as I've found so far. Screen shots to try to explain it better. Yes this will require serious 100% focus, tight SL's, balls off steel!! GIVE UP !!
Friday, changed the plan totally AGAIN But I really like and I'm keeping this 1 ( said about so many long forgotten ladies over the years LOL )
Why do I have to think of a new plan on a Friday, get all weekend to over think it and change it 10x's LOL If you try to use anything from a longer term, the longer term fails and screws you. Mixing longer and shorter always ends up trying to trade reversals, which is madness. Cause I'm always buying a pull back, which could just as easily and quite frequently actually is a sell off. So in theory, this is 100% theory, although did some good sim trades while errrr working today...... If I keep the ranges smaller and faster, then I'm not waiting for a pull back, I'm jumping on the fast 5sma or not as fast 13sma direction ( longer direction from the 60 more of a S/R point ), I'm then using noise not chop to get a okay price, so even if it gets no where, then the noise has a good shot at getting me a +10. HA gives me a better chance of holding longer which I need to be honest at the expense of holding to long, but this is a lesser issue. SL is going to have to be tight and aggressive hard core day trading time, think 7SL auto start then aggressive protecting profit on the way up. So 7SL what lot size can I work upto, 7K account there abouts (Well 5.5K I owe $1500, the drain begins ) base on 7K 3% is $210, means I can trade at my previous $25.6 per pip ( 200 in the box ) allowing for some slippage, nice!! Single position, there will be no time for taking and managing a 2nd position, moving the SL, bla bla bla. Start at $6.40 as it's going to be FAST and learning curve, double it asap when trading okay, double again after trading well. Also US30 was trending today, DAX was nasty chop, before some wind behind my sails and all. Note to self, if I switch to US30 it remembers the Lot size, but not the SL need to change that, although 7 with a 4 spread would likely be rejected anyways. Lets learn to micro manage and daytrade fully, there will be a learning curve, there will be losses, real account has to be used or just no point, must keep going till the art is mastered, method is good enough testing wise and live useable given huge balls Just can't keep trying to repair the previous method, it did me proud in different market conditions, it has it's good days where it trades like old but alas, I need something that's sufficent to generate cash in any condition pretty much, where I haven't got to spend 4 hours per night tweaking and testing then live testing endless tweaks for ever more, driving me CRAZYYYYYERRRR!!! Weekend, catch up on some sleep, long week, too much work related stress!! Pretty clear next week, well expect 2 or 3 days clear to trade.
Fresh eyes still looking good, seeing very few losers but likely just an objectivity issue, tight SL inefficent entries and exits I'm sure i will have enough of them Been thinking about going this way for a while, sounds a bit like hard work though, but needs must, i was trading similar a while ago jumping on existing moves and micro managing, did well somshould be pretty much fine from the get go, just missing a lot of trades I should be taking thats all. Hour on, with no distractions at all then an hour off and repeat until bored or rich or broke lol 2days work next week planned, maybe kids for a day, but Monday looks okay to trade, Sim for the first hour in my head maybe, 1/4 normal lot size hopefully values will be to small to care about.
Just curious : you are not a full-time trader ? have you been one in the past and scaled down or are you into scaling in ( more time) for trading?
Self employed so more time than most, last week was fully booked. Aimed to be full time trader already, when the markets where much slower i pretty much wasn't taking a loss clearing $1000 per week. Then i blew 3k in 1 bad friday afternoon trade, never trade fridays and fast markets been kicking my ass, still around the same level, maybe tad down so full time is delayed sadly. Hence new tactic 2months of not going anywhere is wasting time I havent got, this might waste mire time, or lead to a better method. Change is good 99% of the time.
very clear example. Thank you for explaining. for your trading, what would you say are your main hurdles?
Big list, lazy, easily distracted normal by woman lol I trade well very well, then mainly on a friday, i trade stupid, tired whatever, stand in the way of a big move, move the SL average down and give back all the good trades in no time. Going to shorter trades, more scalpy, more control not a lot left to random chance, market is moving up fast ish, get on it keep it real simple.