I believe so, although you are using different terminology then i would. Stop on the trade would be 1197. Once 1203 is hit, one contract is filled / sold. Stop then moves to 1198 (20 ticks = 5pts) and trailed (at 20 ticks = 5pts). I prefer points too, however the software uses ticks for it.
Sorry. I think using a trailing stop is going to help trading out tremendously. Every once in a while you can get a 15-25 pt runner, which keeps you in a trade and causes you to not get stopped out on the opposite side.
I see that as well. I however am using the reaction high around 8:45AM EST on the 512 tick chart at 45.00-45.75. Here is where you can be a slightly more aggressive vs. conservative. You could use 35.75 to get in long or at 35.00. I have a long at 35.00 (edit to fix numbers) Edit: Moved down to 31.25
Overnight automatic was a loss from a 43.5 long. Currently long from 35.5... Edit: actually 35.75 and out with 4 pts gain
I'm sorry , I didnt see a 3575...I had a low of 3625 touch. I am contemplating an additional trade of "10" @3500 subject to confirmation...haven't decided if I will break my "one loss rule",yet.
I think move down to 31.25 (i edited my other post as well) This is again an example of being conservative vs. aggressive. (relating back to post to SS)
This was another example of the reload strategy. After I took the 4 points it went below the original 35.75 (so chance to reload) and currently above 40....
No you didn't. It went back to 35.75 TWICE after being up 3-5 points. Curently at 42.... Next short is 47.5...