A little off topic, but J_Smith asked me to post a simple trade. So 2 shorts from AUDUSD, based on a double top and pinbar halfway the swing. The stops would be just above the setups.
Thx OA, but could you post a live trade this week, something similar to what I done recently, but any market you trade. The reason is simple, in that only people who are actually trading can join TFF, as we are going to keep the talking about trading for here and other threads, and just post trades in TFF private thread. J_S
The fact that the performance of the "obvious" approach can be quantified means it must be a repeatable, measurable technique. If it was just a state of mind, a different way of thinking, then it wouldn't be possible to attach a % to it. 500-1000% sounds like a very wide range of outcomes but actually, if you do the math, it's far from it when compounding several hundred discrete trades over a year. Just thinking out loud... OS
I would say it all depends on the other things NY mentioned as well, for the more things are in sync, the better the results. More applicable to daytrading also, I would imagine. I see the ES overshot my high level high probability target by 0.75, damn, I hate being wrong J_S
With no compounding. 0.5 x 5 x 4 x 48 = 496 Very Good 0.75 x 5 x 4 x 48 = 720 Brilliant 1.0 x 5 x 4 x 48 = 960 Expert J_S
TO, I don't think it is not achievable, all you would need to do is to make between 1% and 2% average a day. With a stock like EOG that costs about 65$ and that move about 3$ per day you would need to capture between 60c and 1,20$ average a day (ex. 25K account, 4 contracts = 240$ to 480$), not easy but not so impossible...
Before we get too big for our britches Head down.., remain focused on the process..., routine..., discipline.., patience Suss out low risk entries - manage each - to hell with the results =================== Burn this into memory.... This is one gig - that if you focus on the results - will cut you off at the knees quicker than you can blink RN
RN, that was philosophical talking, I agree with you that the process is what matters, once this is proven to work, money will come. Though I also know that I am the first one struggling with setting and following a process... so I know that I still have a long way to go, sigh.