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I think we are actually on the same page. I am trying to take ALL that is given me each day in the two hours I have set aside for trading. This can be seen in the number of ES points I am getting each day, which averages over 20 currently. If I can get 40 points I will take it. My best two...

"My Edge" Part 3 8) Entering on a pullback 9) Break of Two 10) Volume Profile: Value Area and Point of Control 8) Enter on a pullback. This is not just about entering long on dips in an uptrend or entering short on pops in a downtrend. This is about EVERY ENTRY. First of all, I rarely...

The footprint charts are an amazing idea, but I think they need an algorithm to take advantage of them. I only have level one data from AMP and my CD chart is working fine. I have run CD and OBV both on the same chart. There are subtle differences, but for the most part, they do mirror each...

I love number 3. I hope to have that problem. Let's talk again a few months about this. I think the main reason would be that the daily gains would be more than sufficient for any needs. At 100 contracts, I don't think slippage would be an issue.

Thanks for the support. *IF* I actually make it to $1M, then 100 ES would be possible according to my plan, but at that point the plan would probably change. My friend who trades 50 ES contracts routinely has scaled back because of the election. I can think of lots of reasons to scale back...

Yesterday was down day #2 with a -$121 net loss. I need to keep these to a minimum.

"My Edge" Part 2 6) Cumulative Delta I took a course on "Footprint" charts. I even showed some in my last journal. All the limit orders in the world don't move the markets. Someone has to take the leap. Therefore, all the numbers of the deals transacted at the ask or the bid represent the...

I will have to be careful for sure. "Intellectual inferences" can be a dangerous thing without data. LOL. Well said.

There is a lotta drool around here today.... Simplification is a great goal for all traders, including yours truly. I don't fully comprehend; post a screen shot here or privately to me? Thanks.

I was thinking it would be too difficult, but I have to set the auto-stops each day anyway on each different instrument. The simplicity of a fixed stop is nice, but I will at least consider the % of ATR idea.

I was reminded this morning that the volatility on the NQ/MNQ is too high for a 20 tick stop ($10 on MNQ). I will change it to a 40 tick stop ($20 on MNQ), and only ever use trade 1/2 the contracts I would on the other 3 instruments. So my stops are official now and set in my system. 8...

Had some losses in the downturn yesterday but made up for them in the bounce back. Up $161 net yesterday. Something interesting happened last night. Now that I have decided on my fixed stop, I feel somewhat liberated with fewer decisions to make. And in fast-moving markets, I can see my...

Correction to #5 above: 5) Internals: Up volume/Down volume & Advance/Decline There are different way to visualize this data, but these essence is that the underlying strength of the market can be seen. Today was a down day both in price and in the internals, as you can see because the red...

One or more posters have asked "What is your edge?" My journal is about (1) money management, (2) position sizing, (3) being consistent, and (4) having a goal. But none of these are worth a hill-o-beans if I don't make a profit! So here goes. Each of these could have an entire book written...

Thanks for posting. I was guessing that there are several different limits that come into play, both psychological and market related. "Psychology trauma" sounds pretty severe... Interesting ideas about compounding weekly instead of daily, and going for higher daily percentages with lower volume.

Love the pic. The lease does seem a bit premature... I will look again once/if I cross the $20k mark.

Great questions. 1) Thanks for the nudge to formalize this important number, especially since the mini's will be added to my tool bag soon. I have been doing bigger, but I am now looking at a max of $10 on each micro traded and $100 on each mini. It looks like this: 8 ticks (2 points) on the...

Great question. My max daily drawdown is 5% of the starting balance each day. This would give me 20+ days of life if I had a REALLY bad streak. I am looking at a way to automate it so it is not just a line in the sand, but one that is cut into stone.

Thanks for the calculations!

Thanks. It appears that the flat rate kicks in at the $10k balance mark if I ask for it.