Exactly.. pick your analogy, Russian roulette, or perhaps walking a tightrope with 99.9% accuracy. It works most of the time, then you die.
Why not just stop for the day when a loss of 5 points is reached or a profit of 5 points is reached? Use the opening post methodology. Put these days on a spreadsheet and see what the winrate is? Michael B.
Take the methodology in the opening post.....go for the one point with a 15 min time stop. Reverse if not reached with a bracket of your choosing.....say 3-5 point target with a 1-4 point stop.... any comments? Michael B.
This not the system being discussed here, so I respectfully will not answer. I can start aother thread on this. It seems this is much more popular. Any system going for 1 point risking 6.75 points will have a high winrate. Just a few losses wipe it out. Michael B.
ElectricSavant, Your right the third stop point is not required, it merly exists to protect you against a catastophic event, like a 200 point move against you. Runningbear
(Risk 17 points to make 1 point)/per contract with 8 chances. Perpetual 24 hr trading on the ES. First trade starts with a 1 point target risking 1.25 points to get it. Reversing each failure and increasing 1 tick on the stop each tier. Each retry and tier advacement "brackets in" the cumulative loss plus 1 point. Here is how it plays out: Tier 1 1.00:1.25 Tier 2 2.25:1.50 Tier 3 3.75:1.75 Tier 4 5.50:2.00 Tier 5 7.50:2.25 Tier 6 9.75:2.50 Tier 7 12.25:2.75 Tier 8 15.00:3.00 The length of trade and restart would be determined by how many tiers you would need to progress through to reach the target. Theoretically you could restart many times in a 24 hr period grabbing one point each time. Now will someone test this....and attach percentages to each tier reached? I am looking for how deep one must go and how often each tier is tested. I will not spoonfeed you...........come on......give back a littlle ok? This could be your holy grail....LOL Michael B.
Hey...if you were greedy you could go for 2 points in the first three tiers. But your chances of deepening the tier would accelerate....but the question is ...By how much? Another question might be...How many wins would I achieve before blowing up and giving it all back? Michael B.
Hey....you indicator traders could advance tiers in the extreme zones to find the turning points and get on the right side....get it? I think Jack would call this slaloming or wash trades. Michael B.
Electric savant, I think you should add an extra tick of profit for each tier. This means the return increases at the higher tier to make up for the longer period spent losing. So for the 8th tier your accumulated total should be closer to 20 points, giving your back five or so points, for your days work. Runningbear