Using both Hard & Trailing OTO Stops: ideas?

Discussion in 'Order Execution' started by KCalhoun, Aug 20, 2021.

  1. %%
    IF i did lose money on spxu, TWM, TZA/ but made money on TQQQ,SPXL... in AUG/SEPT;
    SEPT is actually still a HI probability month to make money on TWM,TZA, SDS,SPXU, spxs.
    I'M not predicting i make more on my TZA, TWM+ QLD..... next week than my spxu, but those charts look much better than my spxu........................................................................
    Me, even if i lose on my inverse trades in sept, worse case, i make sure not to lose all my3x ETFs AUG profits. SPXU did not range good today unless some one was short it...
     
    #11     Sep 3, 2021
    KCalhoun likes this.
  2. KCalhoun

    KCalhoun

    I'll try testing this next week

    test OTOCO

    tight hard stop .2 max with loose .4 trail
    eg it opens at 20
    OT a) buy abc 20.2
    OC b) hard stop 20
    O c) trail stop .4
     
    #12     Sep 6, 2021
    murray t turtle likes this.
  3. Ken,

    Different setups apply to different times of day. Consider using 3 types of setups-tactics: AM, mid day, PM. Then consider that these apply to market action, not time of day, per se. It is just that they normally occur at that time of day.

    If you are day trading and you have mastered setups for different type of market action, then the issue becomes more of what type of setup to use.

    The transitions can be tricky, sometimes. You should have indicators for transitions. Like a setup, but not for trading but for changing setups-tactics to match the appropriate market action. Also, you can consider not trading during the transitions or keep your stops tight, as solutions.

    Hopefully, your setup-tactics are flexible enough so you can adjust your entries and targets, while keeping your stops for ALL setups. This is better for handling the transitions, than adjusting all 3, imo.

    Lastly, this is all generic. A more finely detailed, smaller finer granularity wrt market action, is better. But I leave that to you and hope you get the general idea.
     
    Last edited: Sep 12, 2021
    #13     Sep 12, 2021
    murray t turtle likes this.