This can be fun at times and frustrating. 12 Trades 9 winners (75%) 3.25 Points = $104.90 Some good countertrend trades in there and a couple that could have been better. Won't go over all the trades just a couple. Trade 5 -2.25; Was trying to manually move stop (after a loser at trade 4 thought I should give it more room) went quickly against me - the old nature of hoping kicked in; but when I saw -100 bailed at market. Just gotta quit hoping!! Trade 9 +1.25; Did manage to move the target a touch! Trade 10 -1; anticipating a continuation and got in early. Trade 11 +.5; still looking for the continuation, moving way to slow so got out. Trade 12 +.5; didn't give it enough time, moving slower than I liked. Overall not a bad morning and am again satisfied (that I got back my -2.25!) that for the most part I stuck with what I wanted to do. Will give my thoughts on the week later. Make 'em pretty, Chris
Noah- If you aren't too protective of your wealth-lab code, send me a copy. I'm no guru, but I may have a few ideas to get in earlier, and some stop ideas to play with. I'll share anything I come up with. -JPB
After the first week of posting with the hope of helping me keep my discipline - I am satisfied with the results. Results on the week: Trading time 7.5 hours (total on the week) 45 Trades 35 Winners = 78% 16.75 point for a total of $837.50 Paid $216 in commisions for a total profit of $621.50 At this point I will let you figure out the return precentage as that will vary according to how much an individual needs to trade per contract. I am sure there are a few more people, besides JPB above, trying to figure out how to tweek this for more profit. I have gone through many ideas also but have continued to come back to these same principles. I realize this is only 1 week that you are seeing, but I figure with a couple of contracts this could be quite nice. Also looking forward to again trading for a full day! Any questions, comments or suggestions? Make 'em pretty, Chris
nice week. as a scalper, your goal should be to trade really big size (50 or 100 lots or more). one of your trading goals should be to increase you size as you make money and as you can handle it mentally. scalpers make good money by moving big size.
Wow...100 lots....I think it's gonna take me a little bit to build up the stomach to win/lose $1250 per tick. But it could make a truly nice living if done right...
I agree, and this is my goal, but I do not wish to get ahead of myself at this moment. I also wish to be realistic, could I get in and out of 50-100 at my prices? I rarely see that big of size traded at one price. How much slippage could I afford in this system? Time will tell. Make 'em pretty, Chris
DBLARROW.... even once you are 100% convinced that you have a winning strategy , only trade as many contracts as you need to make GOOD living in YOUR opinion. Trading is a risky business filled with all types of unknown factors and the only obstacle to a steady flow of money is a blown out bankroll. Again, good luck and i think you are on the right path for YOU.
One week does not a method make. I would wait awhile before I got carried away. Any system can make money for a week. Flipping a coin could make money for a week. If your still making money a month from now then I would say it shows promise. I made money for four straight months awhile back and then lost money for the next four trading the same method.
i didn't mean for dblarrow to trade 50 lots tomorrow. i just wanted him to not be content trading 2 contracts. he should increase his size as his method proves to be profitable. if he has another week like this then move to 2 lots. after another week or 2 move to 3, then 5, 7, 10, etc. a reasonable goal might be 3 months from now trade 10 lots. i will stand by the statement that a scalper has to trade big size to make good money.