Iâm going to stop trading for the day â so Iâm not going to take the last two trades of the day. I figured Iâd give NQ a shot starting today â thinking it might prove to be a good hedge on a losing ES trade. Or maybe hedge isnât the right word. How about if one is wrong I hope the other is right. Got nailed on ES when the âleakâ came out right after the 9:43 trade. Reversed the original loser and that one lost also. First time so far that both trades were losers â Iâll keep an eye on it. For 9/13/2002: ESZ2: 11 Total Trades 8 Winners 3 Losers Avg. Winner +1.03 / Avg. Loser -1.25 Gross 4.50 points - $225.00/contract Commission $52.80 Net $172.20/contract NQZ2: 11 Total Trades 9 Winners 2 Losers Avg. Winner +3.12 / Avg. Loser -3.50 Gross 21.00 points - $420.00/contract Commission $52.80 Net $367.20/contract ES Trades: 9:33 S 880.75 +1.00 (1:30) 9:35 L 880.00 +1.00 (2:00) 9:38 L 881.25 +1.00 (1:30) 9:43 S 880.25 -1.25 L 881.50 -1.25 ( ) Yuk! 9:51 S 878.75 +1.00 (0:30) 10:04 S 878.00 -1.25 L 879.25 +1.25 (3:00) 10:25 L 886.25 +1.00 (8:00) 10:59 S 885.00 +1.00 (5:00) 11:54 L 886.00 +1.00 (1:30) 13:23 (not taken) 15:47 (not taken) NQ Trades 9:33 S 914.00 +3.00 (2:30) 9:35 S 911.50 -3.50 L 915.00 +3.50 (4:30) 9:38 L 915.00 +3.00 (1:30) 9:43 S 916.50 +3.00 (6:30) 9:51 S 912.50 -3.50 L 916.00 +3.50 (7:00) 10:04 L 918.00 +3.00 (2:30) 10:25 S 928.00 +3.00 (7:30) 10:59 S 922.00 +3 .00 (12:30) 11:54 L 921.00 +3.00 (5:30) 13:23 (not taken) 15:47 (not taken)
Hey Quah...good stuff... I paper traded your method today using 100T bars. Basically, at the appropriate times if my 100T bar closed up,I went long, down,I went short. I didn't try to reverse the losers. So far today, 8 winners and 2 losers for $227.00 after commish. Since I have an objective entry method, I'll probably be spending the weekend backtesting this bad boy. Thanks for your contribution.
Excellent. I'm glad to have provoked some thought on different ways of thinking about playing this game. Good luck!
nkhoi, Yes but sooner or later he will push the spread with too many lots -- say around 100 to 200 lots. Then what? Of course, by that time, if that becomes a problem ... well, it is all relative of course.
just remember Stochastics work well in a random/non event market a trending market ..............you will be in trouble.
That's true if you use stochastics in the "normal" way. What if you only look at them at specific times of the day? At a specific snapshot in time?
Not really. I meant the absence of big profits per trade. It's not something that can be solved by doing size, because the per contract profit is still small, which means you are very dependent on hitting a very high percentage. Like all scalping methods, there is also a practical limit to how much size you can do. Trading, like life, is about choices. You can swing for the fences, you can try to hit for average, or you can do alittle of both. Experience and a lot of testing has taught me that you will not make much money restricting yourself to singles, no matter how good you are. You may not blow out, but you will not make much. I eagerly await the weekend's backtesting results.
Quah, Congratulations! On both your profits and your good post. Your thread is exactly what ET is all about. Why? Because it's actually about trading! That is a rare find on ET. You started by thinking "out-of-the-box", you posted your thoughts and system on ET, and now you have others starting to think along similar lines. You and your post are what ET is all about. Keep up the good work. I hope your system works over extended periods of time.
I'd never attempt to trade 100 lots with this system, if at all. I'm not that greedy. FYI, I traded 1's on weds, 2's yesterday and 3's today. I don't anticipate ever trading more than 20 or so with this, if I get that far. I'll pause at 5 for a few weeks. I think I can live on 4 points a day on a 5 lot - and sitting in front of the PC for less than an hour total.