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If you take a trade on the 10 min chart, what type of profit target and stop loss do you use?

Wow.... The market did tank. I still took a long trade on ym after it bounced. Took it back up to support levels. I am done for the day. However, if the market does close positive, that would be pretty amazing.

At least my 2 contract overnight es trade that I took long after the market closed for a 2 point profit before the open since I was not using a stop and planned to dollar cost into it some more if it went against me around supports. Now, feel free to let the market fall 200 points.

I agree, you need to stay with paper trading until you can follow your rules and your account value goes up over time. I did 4 demo trades today, and the 2 that did not work were due to the fact that I took the trades in between the pivot lines instead of waiting for it to reach the support...

er has been trading around the main pivot line all afternoon, I was expecting it to either break down strong or go back up strong. Looks like they are just running stops for those that are trying to play a breakout.

Yes, you could trade pivot lines but then you still need the right kind of stop since er can spike you out of the trade. Also, it may help to watch MACD and stoch at these points to see if prices are going to go straight up and through or going to reverse. Of course you still get false...

so far 65% win ratio, but my losses will be bigger than my wins. Looking to improve win ratio and decrease my loss amt.

out at 770.70 at profit. That was a hard trade.

looking to close position at 770.70 for hopefully a profit, 773.90 is new stop loss

added to short at 771.90

canceling stop for now

Reason for trade, MACD crossover to downside, below pivot and broken through lower support point. Going for 769.70 as profit target. Stop is 720.30 which is above recent highest resistance. I may average more contracts if at higher resistance, obviously this is not exactly how trades are...

real time demo trade, short er 770.70

I have some of the same problems, so this thread has been very helpful. I think for those learning to trade, you do need spend a long time just demo trading, say at least 3 months before going live. If your demo account is positive after those months, then start small and DON'T REVENGE...

I hope your new method works. On my own method I got into just 1 trade today for just $ 40 profit. I missed 2 trades since I was not watching the charts like now while I post my message and read other things. This tells me I need to try to focus more during market hours. Also, was a...

I made more money this week than my previous computer job so decided to take off the day and sleep in. So no trades for me. Hopefully, I can continue to do this. My goal with trading is not to get rich but to at least make enough per month that I don't need to find another real job or start...

It depends how you trade it. I did ok with the ball today as just 1 of my indicators. But I go for small tiny points. I need to one day work on my trades so that I can get more profit if the market moves alot.

The best way to know if my mentor was a real trader is to compare his profit report for the day with mine to see if it correlates since if he taught me the system, we should be taking some of the same trades. I looked at his report for the day, and we both took some of the same trades and...

Hi JJ, I use trade station. How do you get the 1st resistance, medium pivot, and 1st support to plot as line on the chart, and/or how do you calculate these points? I downloaded a pivot line thingy, but after upgrading to latest build, it stoped working as well as before.

Well, truth to tell, I would need to see a profit statement before I paid for another system or being taught again. Anyway, I am currently trading with the last trader who taught me, and am up over $ 200 for the day so far. He did provide me with a profit statement and he also trades with me...