Easy trade today .....
OK , enough from me ...
Take the clear signals , and quit while your ahead ...
Take Care.............................
Simple as 1-2-3
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Here's an idea for 1-2-3. See also spartantraderfx.com videos on Youtube.
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PM..." DC Why do you only take 10 tick targets ?
As you say , you leave a lot on the table . Isn't it best to let the
profits run . Also I have always heard that a 1 to 1 risk reward is
doomed to failure as any winners will be erased by the losses .??
(name withheld ).
Thats a good question ..a few years ago I back tested my chart
over 200 pit sessions on the YM .
I was trying to find the best sized target for the smallest chart that
I could reasonably trade . I logged everytime that the trigger was hit
during the 1st hr after the open and was not stopped out with a 1-1
stop loss.This is what I discovered:
6 ticks hit 92 %
8 ticks 92 %
10 ticks 89%
12 ticks 85%
15 ticks 72%
20 ticks 60 %
25 ticks 52%
30+ ticks < 45%
when I saw that I realized that if I took 10 ticks/trade , there was
almost a 90% chance that the trade would be a winner .
Now remember , these stats are from a small time frame chart
and ONLY the 1st Hr of the session .
Another reason for my small tgt , is that I don't want to set @
the desk for more than 1 hr . I have found over the yrs . that if I
stay much longer than that I will give a lot of profit back .
As far as 1-1 not being profitable . I guess that would depend
on how profitable the method is . Another factor is that I will rarely
take a full stop ..Most stops are 5 tics or less .
Hope this answers some of your ques .
And of course no one says you have to stop @ 20 tics ,,some days
(like today ) the market will give signals all day long .
Thanks for your interest ...........
As you say , you leave a lot on the table . Isn't it best to let the
profits run . Also I have always heard that a 1 to 1 risk reward is
doomed to failure as any winners will be erased by the losses .??
(name withheld ).
Thats a good question ..a few years ago I back tested my chart
over 200 pit sessions on the YM .
I was trying to find the best sized target for the smallest chart that
I could reasonably trade . I logged everytime that the trigger was hit
during the 1st hr after the open and was not stopped out with a 1-1
stop loss.This is what I discovered:
6 ticks hit 92 %
8 ticks 92 %
10 ticks 89%
12 ticks 85%
15 ticks 72%
20 ticks 60 %
25 ticks 52%
30+ ticks < 45%
when I saw that I realized that if I took 10 ticks/trade , there was
almost a 90% chance that the trade would be a winner .
Now remember , these stats are from a small time frame chart
and ONLY the 1st Hr of the session .
Another reason for my small tgt , is that I don't want to set @
the desk for more than 1 hr . I have found over the yrs . that if I
stay much longer than that I will give a lot of profit back .
As far as 1-1 not being profitable . I guess that would depend
on how profitable the method is . Another factor is that I will rarely
take a full stop ..Most stops are 5 tics or less .
Hope this answers some of your ques .
And of course no one says you have to stop @ 20 tics ,,some days
(like today ) the market will give signals all day long .
Thanks for your interest ...........
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- dojirock
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Dc,
Up and running on TradeStation.
Im trying to trade NQ
$5.00 per 1/4 point
Tick charts, not sure what to use.
What did you used to trade on tradestation and what settings....
any help...
appreciated
doji
Up and running on TradeStation.
Im trying to trade NQ
$5.00 per 1/4 point
Tick charts, not sure what to use.
What did you used to trade on tradestation and what settings....
any help...
appreciated
doji
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
Hi Doji ..
I hate to recommend settings as every trader is different and is able
to react to signals at their own speed .
However , I've been pretty happy using a 10 tick range chart
for almost everything .
There was a nice NQ trade @ the open today ,
Good Luck with Futures ......
I hate to recommend settings as every trader is different and is able
to react to signals at their own speed .
However , I've been pretty happy using a 10 tick range chart
for almost everything .
There was a nice NQ trade @ the open today ,
Good Luck with Futures ......
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- dojirock
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- Posts: 1921
- Joined: Tue Nov 17, 2009 10:11 pm
- Reputation: 726
- Gender:
- Contact:
tradestation so far is driving me nuts...
dc, can you tell what im doing wrong?
here is a pic....
doji
dc, can you tell what im doing wrong?
here is a pic....
doji
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It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
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Thank you for your support.
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