Could be a lucky streak on my end. Too early to tell. I try to stay humble. I do however disagree with the notion that it's a 50/50 proposition as the price behavior of index futures clearly are not random.
In a short time it is obvious that this forum is infected with a sort of "groupthink" that affects most posting here, but not all to the same degree.
This is now my main trading plan/method. I was tempted to increase the limit order today as I knew much more was on the table, but have to follow the plan. 3 points per day. Done after 2 minutes today. The rest of the session (I follow the initial 60/90 minutes of the session) is just following the market and taking some simulator trades for practice. If I can keep up this consistency I will eventually start scaling my account and/or taking a few more trades, but I'm overleveraged as of now, so in no rush to do that.
Rooting for you. Cool to see you using volume charts. Any specific reason why over time based intervals or tick charts? Personally I've been using tick charts for some time now and it seems to work well - granted I think you can work profitable systems under any of them.
I use one activity based chart. The rest of my charts and data is time-based. I did a lot of study on volume vs tick charts earlier, but didn't find there to be a great difference. Tick data is aggregated/bundled differently depending both on platform and who delivers the data. I was told that because of that - volume charts are more reliable than tick charts (as they can be different because of the reasons just mentioned) and that's why I settled on the volume chart. It also serves as a proxy of volume - which I don't really use on my time based charts. I consider the volume chart my execution chart as I trade off charts. Most of my analysis/perception is done elsewhere, but a faster chart like the volume chart gives a clear representation of the price swings at all times whereas a time based charts may print huge bars/tails in the same time period. The one chart that's been praised by many is the range chart, but I never got to like that one and I really tried. It just doesn't speak to me.
Thank you, but there are far more able traders on here even in this thread who are cleaning out the market on a daily basis. I'm merely picking up a few crumbs where I can. It's all really fresh as it started out as an experiment/side project originally, but I'll say about 3 weeks now. I haven't really changed anything in my analysis/method which tracks/anticipates the major moves of the day. I'm just banking what I perceive to be certain profits within those ranges instead of trying to capture larger gains with less certainty/consistency. In the past I would have a ton of medium winners (3-5 points) revert back to a break-even stop-out or larger winners (10 +) revert back to smaller profits. Hell, I'm sure even quite a few 10 + going back to B/E. So, essentially giving back a lot of unrealized gains. Now, I'm just banking those instead. While I'm leaving a lot on the table I'm now consistently profitable on a daily basis and haven't had a losing day since I started doing this.
That's great man, so happy to hear that yupp you're right, its not possible to gain the max movement on every trade, take your profits and call it a day even i achieved my consistency through that. I wish you all the best on your journey.