Go here and listen to Mark Fisher: http://www.clicklive.com/NYMEX/symposium_2003/ He talks about using time stops. -Fast
stopped it out results +3.0, +0.5 1.5 more trading days of this hell (this trading plan is about to evolve). For now i'd like to get just a little more "performance data" out of it, so I can better see if the changes do any good.
done good today 1/29/2004 9:00:02 AM - SOLD 2 of NQ @ 1494.50 1/29/2004 9:12:05 AM - BOUGHT 1 of NQ @ 1491.50 1/29/2004 9:39:33 AM - BOUGHT 1 of NQ @ 1494.00 1/29/2004 9:57:08 AM - SOLD 2 of NQ @ 1487.00 1/29/2004 10:09:41 AM - BOUGHT 1 of NQ @ 1483.00 1/29/2004 10:09:55 AM - BOUGHT 1 of NQ @ 1483.50 1/29/2004 10:12:08 AM - BOUGHT 2 of NQ @ 1486.50 1/29/2004 10:26:15 AM - SOLD 1 of NQ @ 1489.00 1/29/2004 10:33:53 AM - SOLD 1 of NQ @ 1486.50 1/29/2004 12:15:41 PM - SOLD 2 of NQ @ 1485.00 1/29/2004 12:38:09 PM - BOUGHT 1 of NQ @ 1479.50 1/29/2004 12:40:23 PM - BOUGHT 1 of NQ @ 1479.50
I'd think twice about that. Since when are you holding overnight? What about Friday's economic reports? I don't think you have an edge for that type of trade.
The motivation is hammers have been doing really well on the daily charts. With a complete plan, entry to exit, I don't mind doing longer term trades. But no hammer, didn't materialize.
Hello Peter: I was glad to see you post those trades. Hope you will continue to get comfortable with using leverage (wisely), pressing when you have the edge, scaling back when you are unsure. Looks to me like you are really on your way. Good for you. Steve46
Made a couple of decent trades this morning, though I must admit I woulda bailed outta that first one after the second failure to move lower. I think I'm happy to beat the Friday bugaboo and am going to stand aside the rest of the day. Posting the RT trades was stressing me out a tad. I'll probably lay off it next week, but look forward to the system tweak and i'll be sure to post the updated rules.