Question: Why don't you trade the "channel" and catch the trend? Lately, I have been reviewing my paper trade results for the past 12 months (200 days, 2500 trades). Overall profitable every month and over the past year: I started with trend following but gradually the trades turned into scalping as I gradually adopted your method. In trading trends, R:R was 5:1 and win rate ~ 20% to 30%. Catching a good trend is low probability and being stopped out often is part of the method. Good positive expectancy but win rate sucks and that was stressful even in paper. In scalping I needed more trades to make the same amount of money per day because I am taking smaller profit. But then overhead became a much larger % and ate up a big chunk of profitability. I am trading name stocks, bid/ask is typically $0.01-$0.02 (1-2 ticks), in scalping, $0.1 (10 ticks) is my targeted profit and stop loss. So, R:R = 1:1 but with round trip bid/ask, typical R:R is more like 0.7 :1 and win rate ~60%. I have positive expectancy but a very small positivity. If I increase R:R, scalping win rate went down. It is a vicious cycle ending with profitability slowly eroding over time. Any comments would be greatly appreciated.
I do trade BOs and channels too but by the time I crawled out of bed and grabbed some coffee, got into discussions with my wife and son in law the BO and channel and much of the TR had already happended when I looked at the chart.
That's a very sad to hear but uplifting about your granddaughter Volpri. Thanks for sharing mate. So glad to hear your granddaughter passing after that terrible blow and the damage done to her...what a star and a courageous woman, marvelous testimony to her , her mum and family. You all must be super proud.
I Thank you. Yes we are proud of our granddaughter and what she has been determined to do. She can be a bit stubborn like her grandpa but sometimes that is a trait that is needed to make it through different circumstances in life. Life can throw curve balls at us at times but we must go on living. Live is to be lived and enjoyed. Too soon it is over.
Yes Just I haven’t had time while traveling to record live trading whether with real account or sim as too much noise in Motorhome as my son-in-law travels with us in his truck but eats and sleeps in the motorhome, and we all get to yapping. My wife refuses to drive the 40ft motorhome and I can’t scalp and drive at the same time. At nearly 70 years of age 500 miles a day is about my max I can hold out driving the MH while flat towing a full size pickup behind us.
So sad with your daughter and so proud of your granddaughter. Any opinions/thoughts regarding Honduras and Mexico?
Dangerous. Mexico worse than Honduras. Cartels almost every where. I have many friends in both countries.