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I just noticed, this ratio (MFE/risk) is dimensionless, so we can compare different instruments.

What are some quantitative measures of how good a system's entries are? One i'm using right now is max favorable excursion (MFE) divided by risk (defined by initial stop loss). For N entries, sum the MFE's, then divide by N*(stop loss). (Also, I max out the MFE at 10 NQ pts; i'm trading...

You should start a trading journal here at ET. Post charts etc. I've improved measureably with the feedback i've gotten.

Here's all my entries from this week by category. Exits not listed.

Entrys and exits are separate issues, but the exits should be related to each individual trade scenario in some way. I think it would be best to save the "home run" exits for home run scenarios. For example, a reversal on a longer term chart (for me, the 2000 tick). Otherwise, use the...

Two different traders given the same entries every day... one could be a big winner, the other a big loser. It all depends on the exits. For NQ -- i'm favoring taking whatever the market gives with the first thrust in favor, then the rest at the counter line. Anyway here's a list of...

You could always just skip the first part with the nerds, and go straight to the selling part. :D

Have you tried breaking it down? For instance, for one week, just attack those S/R trades and don't worry about anything else. Then, onto the next thing, etc. etc.

Well, I won't bother showing my short entries today. Everyone who had a reason to go short was a genius today. Instead I have to mention that I had some losses at the beginning of the day because I got emotional when I had two opposing signals: a short on the 2000 - tick, and a long-- that...

It can't work or not work, it's a choice. I could sell on the first move down tommorow and be wrong. But I'd still be only wrong once. Or I could buy the first move down tommorow, and be right, but I'd still be only right once. :D

Welcome Mike, Concerning the entry methods I'm using, "Trend Touch" does not need a trend day to work. Two reasons for this. One is that by taking "little bites" for exits, I can use it for any and all intraday trends that develop. The second reason is that it does not necessarily have to...

... to figure this out: Your choices are (1) Buy all the way down, and be right once, (2) Sell all the way down, and be wrong once, (3) Be indecisive, and be wrong all the time. HINT: Try #2!!!!

outstanding

Also a little side note... I've changed the background color on my charts to that puke green you've been seeing. There's a story behind that. Some years ago I visited an Air Force museum with all kinds of old Soviet equipment on display. They had an old MiG whose interior was painted that...

Entries were great today, all following the guidelines I posted. Most of them gave me a chance to make money, which is what a good entry should do. All shown on the chart. Note, I didn't show any of the exits on the chart. Also note, I had to stop trading about 1:30pm CST. I used all...

Note, the intraday margin is up to the broker.

I don't think this is an area where creativity should come into play. Try something simple and proven.

For S/R levels I just draw a horizontal line from prior S/R. Yesterday's high and low for sure; but sometimes there are also important levels that show up during the day. If it's obvious, I draw a horizontal line and watch how the trades go in that area. I have bollinger bands draw on my...

I fiddled with the What's Happening Now helpers this week (price is king, these are just helpers). I ended with something a lot more visual. Good for me, since that's how I think. First is a fast bar chart of the NASDAQ TICK. I can see how the market thrusts. I don't use it to make...