PACMAN1, once in the money you try to capture the larger portion of the move? This is the way I trade too. A good run can really rack up the points and blow away scalping profits!
Pacman1, Would you mind showing on the chart you posted, where entries and exits wold be using a 20 ema? On a cross, on a pullbck, etc. While an ema of most any size loos good on some charts, most people feel that you give back in the chop what you make on a good trade, just using ema alone. FWIW.
yea on a trending days like we have had this last week you can really rack up the profits especially in a downtrend since it moves down so much quicker. on trending days i look at pp r1 r2 r3 s1 s2 s3 as targets i will also look at resistance and support off of a 15 min chart. my problem is i sometimes hold to long to a positon and should take my profits quicker or start moving my stop up which i normally don't. i find that moving a stop up to tight will knock you out of the move and then the trend will continue on without you. a lot of moves on the nq could target 3-4 points some quite a few more before you get a retrace. i find the nq to be a great trading instrument using TA.
i would also recommend reading al brooks book on reading price bars a great read. can read it online at 4shared.com.
yep. I'm wiling to give back trades that would have netted a few points here and there to nail that one or two big blocks of points. That's where the real $ is.