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1. Pick a system which has a maximum drawdown of 50%. 2. Trade the system until you have a 25% drawdown. 3. Stop trading the system and say, "Oh my gosh. And it worked so good on paper. Is this how it's going to turn out? Am I just going to keep trading until everything is gone? 4. Find...

What happened to the quote somebody was using here? It went "make em pretty". When the chart starts looking like a catscan of my brain, I switch to a different time until I find one that looks pretty. My rule of thumb is, the longer the time, the wider the stop. When certain points...

I just got a notice from the broker the limit was raised from 35 to 50. I think originally globex had a 35 limit, but I'm not sure now if this 50 limit is imposed by the broker or globex. I try not to involve myself with things which don't concern me.

No, my hit rate is way down below 50%. It would be better just to lump all 3,2,1 tick loss and 0,1,2 and 3 tick profit into one category and call it scratch. Going for a high hit rate is the second greatest mistake (the first being taking small profits.) That's why this is working for me...

Some guy is position trading off some system which is no better than a coin flip and he tells you you can't scalp because you might accidently trade off noise. What's that? Sorry I can't hear you. Man it's noisy down here in the tick factory! Well, we gotta go make some more ticks.

I'm on day 4 of this scalping experiment. Avg loss 2 ticks avg profit 4 ticks. This is the first year my broker ever sent me a Rosh Hashanah card. When I start losing money I'll stop scalping and tell you how to do it. Maybe you'll have better luck.

One final word, here's a test. If you sometimes have problems honoring your stops, forget it. You will never make it as a scalper. If you are guilty of taking small profits, you might just be a scalper and don't know it. Maybe those small profits are what you are comfortable with and all you...

Well I've been scalping es for the last 2 days and now it all makes sense. You say, "1 or 2 ticks stops? That's ridiculous! Insanely tight. Now me, I use a nice respectable 4.5 stop. That's the proper way." Oh yeah? So then tell me, what do you do when the market has moved against you by 4...

x-or, That's the post I was looking for. I did a search on max daily loss and some things and I couldn't find it. I couldn't remember if it was something I read recently or a long time ago. You never know about these things. Sometimes something seems to make sense, but anything that makes...

dottam, nice work. Any system which shows any profit has value. You know how hard it is to make money in this business? But I totally disagree. Any hit rate over 50% is just good luck. The answer isn't the hit rate, the answer I am sure of it is the r to r. Now don't get me wrong, I don't...

Thanks ElCubana, Now I remember why I need rules. Because after a losing streak, my natural intuition is going to be in no shape to give me sound advice. So I better have some rules that I made when I was of sound mind and body and follow them. What I failed to realize is, I am fiddling...

Some traders impose a maximum daily loss, and I suppose there is someone out there who quits while he's ahead, but I'm thinking a better way to go is to have a set maximum number of trades per day (or week if you swing) Every trader is different, for me, it seems 7 is about right. So, if the...

and there was a 3 tick loss in there. 1 (.75) 2.(.25) 3.(.25) 4.(.25) 5. 0 6.+.75 7.+1.75 It really doesn't matter if you are trading for ticks or handles, when you get a string of small losses and a few relatively larger wins, everything just seems to go so way much better. 50...

Wow, I guess I did make money! I was figuring 14 trades, but it was only 7 r/ts, so it came out to 4 ticks total gross profit minus 7 rts. so 7 trades 2 winners 4 losers 1 scratch If you can make money with those stats, you have something to build on.

Don't go away, I'll be right back, I'm over at http://www.dacharts.com/archives/Jimmer_SMAX/jimmer_slingshot_1_052302.jpg ok, I'm back. I got rid of all the indicators. I don't need to sit around and wait for something to cross over. All I have up is candles, bands and up down volume. If...

Post about discrepencies in math or how much more you could make using full daytrade margin or posts by me don't count in the over under line, so if you can get decent odds, you might want to consider laying the under.

Here's the rules of the game 1 trade you need 1 pt for the day (total gross profit) 2 trades you need 1 pt for the day 3 trades you need 4 or 5 ticks 4 trades you need 5 ticks 5 trades you need 5 ticks 6 trades 6 ticks 7 trades 7 ticks 8 trades 7 ticks 9 trades 7 ticks 10 trades...

here, I'll start a new thread. If you want to talk about profits of less than 2 handles in a first in first filled enviroment, you can ramble on and on here. After all, one mans scalp might be another womans position. If you ever made more than 2 handles on a trade you can't talk about it...

Pabst, and that my friend is why I fell in love with globex when I first traded on it. Edge? What edge? That's the most overused if not down right false word in the traders vocabulary. Edge is what they once had on the floor. But just fyi, I was filled all day by joining the bid or offer, and...

hardcash posted this classic by trend fader on one of the journal threads. It is the best thing I have ever read on this site. "What is it that separates successful traders from unsuccessful? " --- There usually is always 2 types of traders. Trader #1 has high % winners.. but their gains...