Please,do.What type of TA do you use for TIMING?I take it that to make 5 figures per day requires GREAT timing skills.
Thanks Lucrum. If it's not a cheap shot then there is no problem pulling up some or JH's spheels and comparing them to my, what I thought of as "posts" that are to the point. Incidentally, JH said he will show audited accounts from his traders, so we will see if that happens.
Price action concepts make timing pretty easy if you have excellent concentration and focus, keep your S/R levels in view, and know where the nervous scalpers have their stops. I was more interested in the leverage and risk of a small account doing that. Sounds like Surf's kind of guy
I would partially disagree. You need more than timing, you need to read the set ups. Timing comes from a number of factors such as the movement in the 1 min chart but you need to tie that in with a bigger time frame. Timing is a very complex issue so I am not trying to sidestep the question. You can get really screwed up on the idea of timing if you mean at such and such a time the price will be X. Or if you reason there have been Y number of reversals at 11.00 therefore I will reverse there. These are too risky. Linear time cycles only work for a period and then self destruct, there is a reason why. I guess the easiest answer is using an indicator to suggest when PA is due a turn and then reading the PA to find the clues for that turn. But it is difficult enough that most traders get lost in this subject of Multiple Time Frames.
If the performance is low then the risk has to be sky high to achieve the return. I don't like that. If the performance is high then the risk is much lower because the position size is smaller. The actual stop is very tight as I said, about 5 pips or less on average. We look for high performance so the position risk is lower. As time goes on the position size increases weekly but the risk profile get lower each week. Also the skill level increases. At the moment there are more warts trades than I would like but there has not been one losing day. Today he stopped early with 101 pips net. Total risk per trade was around $600 with slippage, so about 2% but that as I said will decrease.