Yes, for example: All indicators (MACD and SMA) are telling me to go short. The bar closes with a low of 1398.00 I place a short entry for 1397.00 If it gets hit Im in, if not, then I dont take the trade. I adjust the entry accordingly for the next bar. Im just trying to figure out what would be best for this strategy. It has kept me out of alot of bad trades, but also caused me to be stopped out by not getting enough profit.
Got it. I don't know if that is better or not, I've never considered it. Just saw a signal a little bit ago but I passed, lots of chop today and didn't want to blow my 1.2pts today.
Im not taking anymore trades today either. How many point can you average a day or week with this system?
Don't know yet, I'm still working on my trading discipline (take that to mean I'm not consistent on my entries/exits yet ). My goal is 1-2pts per day on average so we will see how it goes.
ha, yeah same here on all points. I would be happy with .5-1 pt a day net consistently. Anymore than that would just be a bonus.
If you made any money today your doing good. I netted $15 off two trades and they were early on. We need some news to get this market rolling one way or the other.
I would say i got lucky today with all of the chop. I am kicking my self (remember hindsight is 20/20) for not taking the short trade at 3:00pm, I'd be up another 1.5-2pts. Oh well, I'm happy with my gain today.
BB, was that with the YM? Im still trading that too, it just has NOT been itself lately. I can usually get an easy 10 points on a strong move. But there havent been any the last couple of days it seems.
Yes Jack on YM. This is going to be tough going for a few days I think. The market goes up a lot slower than it goes down. It tests and tests and tests then pops up then tests and tests and tests and pops up. The only chance you have to make any real money is on those pops and theyre not always that easy to catch. I do much better in a downdraft.