One decent swing trade will buy the whole cow, and you can be running your bob wire while you wait. Do you like steak?
I found my aha moment reading @volpri's journal. Watching the videos, as PA was unfolding, I compared his action, vs what I would have done..... We are all gamblers, knowing when to hold and when to fold separates winners from losers. Each one of us has to find our own way. I survived 3 days of live trades. Sim results . Take care.
5 days of live trades reproduced sim's results. Merry Christmas and thank you all for the helpful suggestions.
The guy is trading 10 lot micros on the charts he posts. If you actually believe those markups on the chart represent reality/actual trading then there is no hope for you. Find gainful employment.
What I like about you is you are smart, competent and most important, you actually care. Do I believe those trades are real? It actually does not matter. I am on ET to look for fresh ideas and anything I do not know are good ideas to explore. Maybe some will work for me and a lot of "bad's" actually worked for me. His general approach is technically sound. I worked out the mathematics, statistics to support the part I incorporated into my system. As for gainful employment, options is my job, day trading is a diversion and the only reason I am doing it is because it is a challenging problem and I love to solve it. I finally solved it. Take care and Merry Christmas to you.
I traded live for 7 days, 6 profitable days 1 losing day (Christmas eve). I think @volpri's method is real, legit. Most likely I should beat "buy and hold" QQQ but it took a lot of efforts.
My congrats to you Ironchef. You have worked hard to establish your edge. The exciting thing is that you have so much room out in front of you so you can gradually scale up in so small of increments that you don't feel any additional pressure. I wish you continued success and a breakthrough 2025.
Thank you. This is not a get rich quick scheme like what @SimpleMeLike has. His scheme could make $1M quickly whereas this only makes a small fraction of 1% profit on average each day. If I use $100K of trading capital, my daily expectancy would be ~$150, hardly enough to live on. It is scalping in the truest sense: picking up a few pennies each trade. No formula, based only on the price movement and like @volpri said, don't be greedy, take what the market is willing to cough up. Happy New Year.
Sounds like a trend momentum entry with a tiny target and big stop. A solid system, if I do say so myself.