$200/day/contract trading emin500..is that good?

Quote from dojistarz:

My LIMIT ORDER are filled as soon as they are touched(and yes I know it is not usually like this in real-life, the price action have to go thru your limit price by 1 tick to be filled)

But still, what do you think?
More...

In my humble opinion, scalping expecting your limit orders to be executed with a .5 loss will not work. Try it for a day with real orders and you will see what I am talking about.

But, for all I know your system has awesome entries, and you will be fine.

good luck
 
Hmm if it was swing simulation but scalp without taking slippage into account : NO especially with 2 ticks target haha :) !

Quote from dojistarz:

I am currently PAPERTRADING emini500 with ENSIGN software.

I am trading only one lot. And always just one. No position sizing allowed.

I usually go for 2 ticks target (25$) with some $37.50 trade and some $12.50 trades. I get out when my loss = -$50, sometimes I get out before or a bit after, but averaging -$50.

Percentage of winner between 70% and 92%.

Usually end up with $150 to $250 INCLUDING commission(I calculate $10 r/t).

Do you have enough info to tell me if this system is a good start or there is no way I am going to make it with these stats?

Thanks

If anybody interested I will posted the parameters and list of indicators I use.


PLEASE READ: I am PAPERTRADING, and did not put any money on the line yet. I get these stats using the PLAYBACK feature on ENSIGN software. My LIMIT ORDER are filled as soon as they are touched(and yes I know it is not usually like this in real-life, the price action have to go thru your limit price by 1 tick to be filled)

But still, what do you think?
More...
 
Quote from dojistarz:

I am currently PAPERTRADING emini500 with ENSIGN software.

I am trading only one lot. And always just one. No position sizing allowed.

I usually go for 2 ticks target (25$) with some $37.50 trade and some $12.50 trades. I get out when my loss = -$50, sometimes I get out before or a bit after, but averaging -$50.

Percentage of winner between 70% and 92%.

Usually end up with $150 to $250 INCLUDING commission(I calculate $10 r/t).

Do you have enough info to tell me if this system is a good start or there is no way I am going to make it with these stats?

Thanks

If anybody interested I will posted the parameters and list of indicators I use.


PLEASE READ: I am PAPERTRADING, and did not put any money on the line yet. I get these stats using the PLAYBACK feature on ENSIGN software. My LIMIT ORDER are filled as soon as they are touched(and yes I know it is not usually like this in real-life, the price action have to go thru your limit price by 1 tick to be filled)

But still, what do you think?
More...

What time frame are you trading on? Taking a 2-3 ticks is unrealistic in Ensign because you're avoiding the spread. When I first started out paper trading in Ensign I did the same thing and then I realized that real trading will never accomodate this ;) Instead I went from a 75 tick to a 343 tick and used the same method, started taking 2-3 points at a time with 0.50 losses, with 2 tick slippage + coms already in there. If you're scalping, you shouldnt be taking point losses, if you're wrong get out! If you want I'll post some charts of my method later, it's quite simple, just uses stochastic (for direction) and BB for entries. Donchian is also there for S/R, not very important though.
 
I don't recall what ECO stands for but this is the Metastock formula I have seen for it. C=Close, O=Open, L=Low and E means EMA.

(Mov(Mov(C-O,5,E),26,E)/Mov(Mov(H-L,5,E),26,E))*100

Quote from syd697:

Technical study ECO is? Thanks.
More...
 
Quote from dojistarz:

I am currently PAPERTRADING emini500 with ENSIGN software.

I am trading only one lot. And always just one. No position sizing allowed.

I usually go for 2 ticks target (25$) with some $37.50 trade and some $12.50 trades. I get out when my loss = -$50, sometimes I get out before or a bit after, but averaging -$50.

Percentage of winner between 70% and 92%.

Usually end up with $150 to $250 INCLUDING commission(I calculate $10 r/t).

Do you have enough info to tell me if this system is a good start or there is no way I am going to make it with these stats?

Thanks

If anybody interested I will posted the parameters and list of indicators I use.


PLEASE READ: I am PAPERTRADING, and did not put any money on the line yet. I get these stats using the PLAYBACK feature on ENSIGN software. My LIMIT ORDER are filled as soon as they are touched(and yes I know it is not usually like this in real-life, the price action have to go thru your limit price by 1 tick to be filled)

But still, what do you think?
More...


I didn't do the exact calculations with the info you provided, but just knowing that you're risking $50 to make $25 will not work in the long term.

And papertrading is BS. I paper traded with Esignal and made $18,000 in 20 trading days scalping equities for 1000 share lots. Was that realistic for me? No. Because daytrading is all about getting the fills when you need them.

Good luck.
 
Quote from ig0r:



What time frame are you trading on? Taking a 2-3 ticks is unrealistic in Ensign because you're avoiding the spread. When I first started out paper trading in Ensign I did the same thing and then I realized that real trading will never accomodate this ;) Instead I went from a 75 tick to a 343 tick and used the same method, started taking 2-3 points at a time with 0.50 losses, with 2 tick slippage + coms already in there. If you're scalping, you shouldnt be taking point losses, if you're wrong get out! If you want I'll post some charts of my method later, it's quite simple, just uses stochastic (for direction) and BB for entries. Donchian is also there for S/R, not very important though.
More...

Your charts are very appreciated!

Saico
 
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