dojirock wrote:tom7ak,
Risk/reward
As a scalper i quickly cover commissions/spread and then wait. My goal for spot is 20 pips per session. Some times it takes me 1 trade to achieve it, others it takes 2 sometimes 3 trades to reach goal. Futures it has become more about $$. Right now its $500 to $1k per session. When I started futures it was $50 to $100. Risk is variable and I dont put alot of stake in it due to my sl is defined and then becomes the reversal. I started with doubling down to get my losses back on reversals only. Now i x3 or x4 on reversals. Pertaining to spot, if I have a good session I will take a "what the heck trade as long as my goal has been already reached. Usually OPM money and let it right all night with a OPM sl or break even. When they work its NIce! Futures im all tick charts at the current. Spot im 15 min only.
profit
As i move up contracts and lot sizes, its becoming more important to me about the $$ not the ticks or pips. Again, as long as I hit my goal.
Winners & Losers Percentage
I have already done my math on this and it is why I trade it. It would be more beneficial for you to take a screen size chart and using 2 or 3 semas (use tro dynamic fibs to see where they started) and see for yourself. The nay sayers always present me with garbage numbers. They like to say I cant get 20 pips on trades...or risking 20 to make 8 etc...yada yada.. I never said I get all 20 in one trade. I have always stated 20 per session( used to be 40) . I dont look at RR like that. Risking 10 to make 4 or to make 16 is the same to me. ITS A WIN. My style of trading is a very high percentage( chart it) thus I can set traditional RR aside. The other thing nay sayer dont do is take the reversals. I do. Without the reversals from the momentum zones, the stats are up to 40 percent less. They need to lose the FEAR. Again i highly encourage anyone to chart it out if they wish to trade this way. You must believe it to win at it or your emotions will jack you up.
The longer one trades the more there experiences play a roll in there subconsiousness. Almost 2nd nature. I am messing with clone boxes and tick chart trendlines but dont trade them per say yet. I will tell you this, I can already tell you trendline traders dont take breaks. The success is the bounce. Breaks have a jacked up RR and the bounce trades rectify that.
hope this helps
doji
I love this post. Straight truth and honesty. Doubling down on reversals, "what the heck trades"
my fav and experience in the subcon. Plus its so simple. Any naysayers just aren't trading it right or maybe Im not. But if 20 pips a session is the goal then Im good for about 12 sessions with just today. And this method is good for entries on HTF's to. Total package.
And before anyone wants to call bullshit on my gains go check Mira's page. Almost all trades were live and TP's were called in advance. This setup is amazing. Also have 2 "what the heck trades" still open. Looking for a couple hundred more pips or taking a loss (probably with money from traders who say this doesn't work
.