Day-Trading 2.0 for small traders
- Thread starter jjrvat
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NO. My target is NOT 2 pips.
Yes, SL is max 7 pips.
I was ill the other day ( still got the flu ) and I was just grabbing 2 pips because I could.
But what I do is what jjrvat teaches. Don't let my tools fool you. I am doing EXACLTY what jjrvat spells out in pages 1 - 3.
I scalp off the 1 min and/or the 5 min.
Quote from pkchilly:
Been off on vacation for a bit, but as always I find great reading in this thread! Many thanks to all who have contributed!!!
Just wondering what all have found to be the best setup for jpy and bp on futures for scalping. Looks like you use vol charts jjrvat (250 I think...) along with the 6 and 240 wma's. I have been using 1 tick charts with a semi-rainbow wma setup, but don't find I get enough information on the 1 tick charts. I'd really like to find something better I'm comfortable with so I can put in some screen time...
Also, I've been only using limit orders trading on my charts and am wondering at what contract size we start not getting filled in the real world? I'm only on 2 week demo's right now (yeah, kind of stinks...but I'm really liking futures!) and have found 8 contracts to be right about the limit to get in on a scalp--but again, this is a demo environment.
TRO, thanks a ton for your intuitive ea's, but wondering how I could put them to work with my broker's program (openecry) I know it uses ea's, but what kind is another question...although I should probably google itI am a dud when it comes to programming...but I do like trading! lol
Italian--always enjoy your posts and chart analysis...it looks so incredibly easy when you show it--I'll send a chat your way soon...
pkchilly
They are NOT EAs. They are indicators.
Did that in TradeStation years ago.
One can make money with any tool.
All you need is one.
IOW KISS
I am quite familiar with KISS -- being a software engineer, it is one of my primary tenants. However, I have found this particular rule to not so much be a corollary, or sub-rule, but rather equivalent to any other exit strategy and was simply wondering if TRO had any experience with it.
I always tell traders to KEEP IT SIMPLE.
Come to think of it, I tell my bandmates the same thing...LOL!
But I am really not sure what you are asking me.
When I think of traders not applying the KISS paradigm, I think of them beginning with a simple trading algorithm that develops complexity due to their acknowledgment of less probable patterns -- adding layers of sub-rules to identify lower probability trades. Ignoring KISS is adding neural networks to a simple moving average system to identify a rare chart pattern. You would, most likely, be better off splitting these into two separate systems.
I find myself, however, looking at this specific rule as a more common rule: reversion to the mean. I find myself tossing the idea back and forth between splitting this into another system all its own, or using it as an equivalent rule within my primary system.
So my question was, did you find that this rule provided equivalently important signals to your overall design, or was it simply identifying low probability events that hindered the overall system performance?
All the best,
Corey
I find myself, however, looking at this specific rule as a more common rule: reversion to the mean. I find myself tossing the idea back and forth between splitting this into another system all its own, or using it as an equivalent rule within my primary system.
So my question was, did you find that this rule provided equivalently important signals to your overall design, or was it simply identifying low probability events that hindered the overall system performance?
All the best,
Corey
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