Great question! My answer is - it depends on chosen range & where you took that range from. I took 10.25 which is quite wide for ES, it meant having to wait till 20.5 NET points. A lot can happen in the meantime, I agree. But let's think for a moment. Reduce range down to 2 ES points. You will not find a chart that shows ES yo-yoing within a 2 point range enough times to blow your account. But, initial stake has to be very low in relation to your trading capital. It's a slow climber this one. There is another point worth mentioning. There is nothing wrong in taking profit a tad early or if you feel your capital is at risk taking profit at x 1 the range, not waiting till x 2. If you are familiar with ES price action, then you will have to see that this is pretty stealth tight. P.S. "where you took this range from" - If you do this intraday. Would you take a range just before open or during lunch time?
Ok, so you are not defining Hi/Lo based on a certain amount of time....you are defining it was the first swing (or reaction) low and the first swing (reaction) hi as your range..correct? Thus it could happen within a couple of hours or maybe 5-6 hours...right? Good job btw.
Let's not wake up any more fools. Please close the thread a.s.a.p. You can't expect the holy grail to stay holy with all those fools drinking on it. In fact, you should consider deleting the whole thread.
"Target is at least 2 times stop/reverse after hours range" from 1st post. Today we have 2 primary data reports out, each can shift a market substantially. Range is pretty tight today, making targets of 5 ES points & we haven't really shifted much so far, perfect. I am increasing targets to x 4 today, making target for Long 1074 & for Short 1051.5 (or thereabouts due to an increase)
So basically you are saying that any range on any timeframe on any chart is a good range to start?. That would be worthy of a Nobel Prize...if the Nobel committee were not a bunch of self-entitled socialists. I have enjoyed our conversation, but now I must depart. Sake calls, and I like to start drinking early on fridays. I still think you should delete the thread. The holy grail is holy because the search is a personal one. Making it public, destroys the holiness. I must however point out that the high of the range is 1064.50, and these types of inaccuracies can cost you dearly.
Interesting morning just the same ,as by my count, that from the time you published your numbers we are now on our 5th level due to the narrow market activity within the range. I am assuming the numbers are in play immediately they are published. Personally, I would be happy with a set multiple regardless of the width and move on to next day or new set of numbers. NiN