Fading Marketsurfer calls, initial entry point for a scalp, then stop to Breakeven on half, works very well.
Sorry you think that's funny. The truth is, they don't have to exist to make money. I put in a trade today at 166.76 on the SPY with a stop at 166.60. I have no guarantee that I'll win, but I think for only $0.16 per share it is worth it to find out. The EMA that the price reached has received a lot of play in this past trend, so it's a logical place to take a stab. If I'm wrong about this one and I lose, I'll take the next one too. If I lose on that one I'll take the one after that. If I lose 5 times in a row, then win the 6th one, I break even. The odds are heavily stacked in my favor over time since I have already won 3 out of 4 this last two weeks off that same EMA (and another 5 out of 8 with a different setup strategy). I know that's difficult to believe because of the real possibility of a gap down. But how often does a gap like that happen? And how often do I take advantage of small risk margins like this? Point being, even with a gap down and a loss of more than the $0.16, I still come out ahead over time. The frequencey and size of gaps while holding overnight doesn't overshadow the growth that occurs from the wins minus the planned risk. As a whole package, I have a winning method, so I don't need "this one trade" to win.
This strategy work well in highly trend market, but how about when the market turn chop and whipsaw? Those little small stabd will add up and will eat you alive. Note : MA or any other smoothing indicator is a delay instrument, you will suffer a lot of stabs before it start to tell you market is whipsaw, which is too late that time.
That would be a problem for a trend trader. But I don't recall saying that I was one. Here's a picture of my last two days in trading. Made 7% in options, still holding the calls from step 3. Not exactly a trending market, but even if it was, all that would happen is my puts from step 2 would get stopped out and my calls froms step 1 would ride it up.
for $10,000, I can show you in past charts what worked. but now you want my holy grail set-up??? why not just ask google for the code... or coke for their secret recipe? if I tell you, I will lose out on millions....for what???? I will never share my secrets!!!!! but I told you all in previous posts to be long 10 ES every day!! is that not enough!!!! ES 666 to 1666......1,000 points!!!! everyone should be rich!!!
More or less the same works for me but only when the trades have been taken at the best entry level possible so that i do not have to hold too much of floating loss. Strong support and resistance levels are what which works best for me.
The fact that your are picking your levels price indicates you are using a setup or maybe you are just picking the numbers out of the air?