You will not find any known system out there that will warrant 1-3 points per trade, you are talking 100% win rate, which is a theoretical fallacy between paper traders. What you need is to first of all establish reasonable average risk vs reward based on ABC. That way you can afford to lose a few times but still at least equalize on 3 or 4th trade, that would depend on stats etc. And as somebody mentioned in another thread if you want to increase chances of 'survival' abandon tick based stops and targets, open up to a higher time frame.
1 ES trade(daytrade) and get 1-3 points
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You will not find any known system out there that will warrant 1-3 points per trade, you are talking 100% win rate, which is a theoretical fallacy between paper traders. What you need is to first of all establish reasonable average risk vs reward based on ABC. That way you can afford to lose a few times but still at least equalize on 3 or 4th trade, that would depend on stats etc. And as somebody mentioned in another thread if you want to increase chances of 'survival' abandon tick based stops and targets, open up to a higher time frame.
please explain more...great stuff...
Just watch the DOM and/or record it for the next full year and study it everday in conjunction with the chart of your choosing (1min, 5min) and see what patterns you see. If you have good pattern recognition skills you should get giddy once you realize how the two (chart and DOM) work together.
Takes a lot of practice and hard work.
Takes a lot of practice and hard work.
which is why I always tell people, if you want to get into trading fulltime, you HAVE to be 100% commited and passionate. Otherwise, you wont be willing to put in all the hours of work required.
Quote from JSSPMK:
Ditto, no easy way in for most
Above is a request I made.
The reason I asked for you to do something had to do with my making an effort to help you out. For me to post what I see would be less helpful to you than my discussing what you see.
This, I knew would be a difficult challenge for you. Too difficult it turns out.
So attached you can see a print of the beginning of today.
The fourth bar began and it broke out below the bottom of bar 3. On the attachment, you can see the execution to enter short. It is a short entry rather than a long entry because the bar 4 is going below the bottom of bar 3. Naturally, if bar 4 had gone above the top of bar 3 the reverse would be true.
There is no scam involved by looking at the ends of bar 3. Nor is there any scam being done by anyone when bar 4 goes past either end of bar 3. Do not let yourself become freaked out by this happening every day of the year day after day after day. If it doesn't happen then do not worry about a global event that is going to destroy the world. Keep calm and wait for bar 5 to breakout one end of bar 4 and enter on this breakout.
I recommended that you use 10 contracts and just hold for two ticks to meet the goal that you have invented. The attachment only shows 1 contract being used by a person whom I mentor. He is not inventing anything as you do. He is under training and instruction that is related to getting rich while taking no risks. This is not very inventive at all. It is just learning in a risk free environment with a mentor who knows how to make people rich without taking risks. For example, I tried to help you in a small way to deal with your invention. You have found out that a backtester has proven that what I suggest doesn't work and he actually added PROTECTION in the form of a loose stop. He invented too, just like you do. He invented NOT testing what I suggested that you do to meet your business plan and desire to fill the plan with your invention.
You can see that the exit was taken after a longer time than the time for the price to move 2 ticks. Why did this happen with the 1 contract entry? The reason for 1 contract is to learn with as small amount of money that is possible. This is a reasoned point of view that I imparted to him because I am the mentor and I guarantee his learning processes which means he cannot lose money while he is learning with me. You do not have my guarantee simply because you cannot do what I suggest in any form or manner whatsoever. You have proven that to me each time you have ignored my posts to you. People I mentor are reliable in every way; they make an agreement with me and they take responsibility for doing the "work" of learning.
You notice the trade comes to an end and the position is closed. I would not let the person reverse simply because he failed to set up the trade on his platform properly. He found that out when he exited. On the chart you refuse to post, look at what would have happened if he had reversed on that exit price.
So 13 or 14 minutes passed and he accomplished your invented goal a few times over.
One thing I am requiring of him next meeting is to double his contracts and also be set up to reverse on each trade. I can tell you that he is going to do that.
After debriefing on the first turn, we took one more trade. You can see that. It lasted 7 minutes because there was no more money to be made after the exit.
Lets say he now understands to enter on bar 4. Lets say he understands to set up to reverse when the trading leg comes to a close. Lets say he has learned to exit when no more money can be made. He knows three things and he doubles his contracts each time he makes enough capital to do that. This is no risk trading with profits only.
You will notice on your unposted chart for today that the person I am mentoring would have done 2 trades from the end of bar 4 to the exit of the second trade. Notice that the price of the first entry and the second exit is not very different.
What could he have used to do the one reversal between the two trades? People invent the many ways that they believe can be used. You, of course, have invented the "target" and you have eliminated the DOM because it is a scam perpetrated by your enemies, etc...
The person I asked to back test this second trading method, declined. He is going to stick with trading the NQ his way.
How many walls occurred within the first entry and the second exit? The answer is many. They are provided by scammers as your fully researched efforts have told you. BUT all of those short term reversals at extreme values where walls occur would make more money than the entry, reversal and exit the trainee was supposed to be learning this am. He just failed to have the right # entered on his trading platform. He had a 1 instead of a 2. So next time he gets to use two different numbers: 2 and 4 and he will only make twice the potential profits than he could have today. Why is he going to use bigger numbers? That is because I am willing to guarantee that he can do better and he will be more focussed with twice the capital at play. We will probably be using the help of the DOM and its associated scammers too. I am going to let him use the DOM. Today he was restricted to "reading" the "T and S".
Let me explain risk to you. Trainees have no risk while learning. Why should they complicate learning by adding risk to the situation? What is the trade off of having no risk while trading and learning? It is this. the person takes on a deep obligation to learn and do what is on the table to be perfected. He does feel support as he trades. The primary support is what? He mind is focused on getting money out of the markets by doing the right thing at the right time as a consequence of taking data sets over and over. He perfects doing a routine: Monitoring, analysis, decision making, and taking timely actions.
You are a well known inventor on ET. I do not do invention. Invention is for others who then trade in the same markets I do.
I mentor to support learning the markets. By keeping my trainees, in the conference call, in the mrket and having no risk, they learn how markets work while in the market making money as a segment of profits is being accumulated. This is not inventive. It is extracting. There is NO COMPETING OR INVENTING GOING ON.
By looking at the market and indicators and tools like DOM (and the associated scammers yo see), T&S, tic charts, and some of the script related "shows" and "tells" (30 some pages of them), anyone can learn to make money. we do not look at the pile of chips not any sort of reference like an entry price or reversal price.
So you have two jobs to do. Think of me telling you to do something without fail. Think that you can read English and you have been told to do something. Do what you are being told.
1. Post the request I made a few pages back.
2. Go the the long post I sent you elsewhere and bring it here and post it again with a statement for each of the 6 items and tell me here in this thread why you have decided to not do as suggested for each of the 6 items one after another on this thread.
This is your typical bullsh*t. YOUR continual bullsh*t.
Let me elaborate on your continual bullsh*t.
YOU ,as usual, do not know what you are talking about.
deceiving...... Read this word to mean that you do not know sh*t from shinola.
Sentiment...... You cannot, even if you tried for months and months get the concept of sentiment straight in your head. Get it STRAIGHT.. you know nothing about sentiment.
finally, your whole post reads like an air head freakout post from someone who freaks out every time he sees one tiny thing on a screen that is setup is such a fucked up way that YOU have never even seen a market operating in the first place.
Stop being a sh*thead for a change and do what I have just told you to do.
Your job from now on is to read these boards and keep your keyboard shut.
Do not ask anymore stupid stupid airhead questions.
important is that you have developed a vision...and it's because of that vision that you decided to pursue this career path: then you'll have to act on that vision and with patience translate it into the dream goal you are chasing. you must see it happening, see yourself making it happen, and most importantly what is required from you to make it happen.
Seedy, I didn't DECLINE to test your variant, I have already DONE it. Adding the reversal rule makes the system virtually untestable because of the complexity of optimizing two strong rules simultenuously. And, oh, BTW, you changed the first rule on my by making it a fifteen minute range BO rather than a 4th bar BO. I have noticed over the years that you do that a lot when pinned down. I suspect that you know very well that the success or failure of the system you described depends totally on the proxalmighty of strong S or R to the BO and the subservient reversal. Trying to divine from the DOM what to do when is a poor second to actually knowing where the strong S/R is a priori.