Nice trading, what type of stop were you using on those trades? Scalping is ok but you have to have a high win rate to make it work.
Very true. I don't want anything up there! I'm just on a Ninja simulator now. I don't plan on real money until I have two consectutive weeks of profitability and then my move to my real account will be with one contract for a couple more weeks or more of profit. Best regards,
i was stopping at prior resistance level, usually within a point of where i entered. this strategy only works if you time it right...yeah, i realize you have to have a high win rate, but to me it's easier to win when you're only going for a point than if you hold out for 2 or more. also, if you'll notice, my second entry was lower than my first out, so i could've just held and gotten the two points. don't know why, but it just seems easier this way, maybe more nimble? don't like to get married to the position. just a quickie, if ya know what i mean....
It is a decent way to build your confidence. The hard part is not letting confidence turn into cockiness. I trust you will not. You done well my friend.
If nothing else maybe you will remember this analogy in a few years when you have been around the block a few times and new traders are asking you for advice. Cheers, Gary
Oops, I forgot to post the revised chart for you. Look at this and answer he question then I will give you my answer.
Hi Gary, I didn't want to short there because I wait 4-5 ticks before entering after a level is broken, and doing that wouldn't give me two points before the level at 736.00. It would give me 1.5ish points, but, I'd rather wait to get the two points. Hope that answers the Q...