MightyOne wrote:Sacrophage wrote:MightyOne wrote: I would aim for 100% in 5 weeks, about +60 lines per week or +12 lines per day (3 lines = 1%).
You don't really need a large lot size to reach your goal, just narrow the spacing of the lines a bit as you gain OPM.
Haha 4:1 for me is absolutely huge - need to force myself to do it.
What would potentially make it easier is some idea of expected win - I am writing an EA to test this (based on my first post), but since entries/adds are subjective, it will not give me a clear picture. Do you have a handle on how many false starts you get on average before hitting a full winner (3.5 entries)? Also, what does the variance look like - i.e. is it worth ramping up your volume because you have had X # of false starts... Of course this is trader-dependent, but hoping it falls into some statistical range for each trader over time.
Holding for 4:1 would be pretty hard wouldn't it...
but that is not what I am suggesting.
I start by risking 3 SIXTEENS (48 pips = 1%) and then I narrow to 3 TWELVES (36 pips = 1%) and so on (16, 12, 8, 6, 4, ...)
All that I am looking to do is capture a few lines here and there as if I were scalping a small chart.
At first you might make 1.5 to 2 lines and then as you narrow the spacing of the lines it will increase to 2.5 to 5 and before you know it you are at your daily target no problemo; just because you start slow that doesn't mean that you are going to end slow.
The most critical part of reaching a daily goal is to not dig yourself a large hole at the open and that is why I start wide.
You can hold for as long as you wish but most of the time you just should grab and narrow; just as a scalper grabs pips most of the time and holds occasionally.
So, yeah, 3 to 5 charts for a few lines.
P&F entries are very basic, I am sure that you know all the breakout patterns.
If there is a two box reversal (it is really a 3 box, but it looks like two) then that triggers a trade.
After you get a sizable down column (BDP) and a retrace then a single box can trigger a continuation.
Mix in a little small chart context and I am sure that you can see how easy it is to grab a few lines here and there.
Please don't take this the wrong way... but I love you MO!