Suppose your paycheck was based on the percent of entry triggers correctly taken? Test yourself? How well you can execute 100 trades in a row? Whether the entry is timely matters 100% for this sim-game. Ready? What you need 1) A product and timeframe of your choice 2) Objective Entry Trigger Method, no nuances, no subjective hope, skills, or body english involved, just Mechanical Go/ No Go. 3) A sim trading front end that provides entry time paper trail. A 30-second chart will run 100 triggers much faster than a 2min chart Again, profitability is Not of interest here. Accurate Execution of the instructions is all it takes. If you can do 95% on this, you Pass Go and Collect $200 and a Get out of jail free card. Here's one simple trigger setup that has clearcut go/nogo instructions. https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-12#post-5066694 Error log entered without trigger entered late entered early did not enter, ... stats Triggers Taken Correctly/Total Triggers Available for Duration
Not suppose... It's a sure thing that your paycheck depends on the right implementation of your system. Failing to understand this, makes traders abandon their really good systems and search their hole life after the holy grail. The holy grail is the implementation of a system you know inside out. Knowing the hurdles of implementation is the key to consistency.
gotta agree danielc1, This thing is worth doing. The "system" listed above has only two possibilities at bar close: either it IS or it IS NOT a valid entry trigger. There is not any grey area. Takes about ten minutes to set this up and know the system "Inside and Out", so that's all possible by any fourth grader today. The hurdles of implementation will appear in the Error Log. Record them in Real-Time. This is the money. 95% or bust. It's interesting how many and varied items appear in that Error Log. Some of them are worth it. lol. cheers
Got Error Log? -Trading Well as a Major Component of Success - Kris Verma ($3K to 1000K). "Trading at Support & Resistance provides greater conviction" https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-10#post-5014575 What would you say belongs in a solid trading plan? https://elitetrader.com/et/threads/...solid-trading-plan.340340/page-4#post-5031706 Trader Turned $3,800 Into $1 Million In 9 Months Shorting Small Caps https://elitetrader.com/et/threads/...llion-in-9-months-shorting-small-caps.350321/