Did you backtest any of your set-ups ?
Are you entering/exiting with limit, market or stop orders ?
Develop and follow a written trading plan
- Thread starter Chuck Krug
- Start date
Are you entering/exiting with limit, market or stop orders ?
No, the market dynamics determine that as the setup forms. Again the market rules. Dynamics are hard to quantify and require experience...intuition..market feel..you cannot box in dynamics. It is form as opposed to “how the form was formed”.
I enter using all three type of orders depending on the dynamics of the setup. No, i don’t backtest. Never have. Probally never will. I do forward test any new tactic or strategy I learn or devise.
Actually more on some trades but it averaged about 1.5 or less this morning. Other days that changes. Depending on dynamics.
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Well another meaningless morning ROFLMAO. This is where I stand as of now. I am going to quit for now as I have some other things to do. I may get the chance to make a trade or two in the afternoon. Just have to see.
On one of these latter trades I started with 1 contract. Market dynamics changed. It went against me. My original premise I believed was correct. My entry just wasn't precise. So I added another contract. It went against more. I added another. ditto...ditto..up to 6 contracts. Then held for the break south which soon appeared. So I started with 1 contract and added 1 more at intervals as the market move against me. That is, I added to a loser ROFLMAO. But, I only did that because I believed my original premise on the overall direction was still correct and the context backed that up and the dynamics did too even as it was going against me. Unfortunately, it does affect my average win amount over my average losing amount...some.. and also affects the time I was in the trade. As you can see my average trade time increased to over 5 minutes.
Still maintained a fairly high win rate of 81.25% I prefer above 90%. Who wouldn't? I don't know the way some people argue against it they appear to prefer low win rates.
16 contracts traded. 13 winners. 3 losers.
I have to go so bye for now.
On one of these latter trades I started with 1 contract. Market dynamics changed. It went against me. My original premise I believed was correct. My entry just wasn't precise. So I added another contract. It went against more. I added another. ditto...ditto..up to 6 contracts. Then held for the break south which soon appeared. So I started with 1 contract and added 1 more at intervals as the market move against me. That is, I added to a loser ROFLMAO. But, I only did that because I believed my original premise on the overall direction was still correct and the context backed that up and the dynamics did too even as it was going against me. Unfortunately, it does affect my average win amount over my average losing amount...some.. and also affects the time I was in the trade. As you can see my average trade time increased to over 5 minutes.
Still maintained a fairly high win rate of 81.25% I prefer above 90%. Who wouldn't? I don't know the way some people argue against it they appear to prefer low win rates.
16 contracts traded. 13 winners. 3 losers.
I have to go so bye for now.
Uh....care to elucidate on the above statement ?
I don't quite understand that....
I have to say that a 90% win rate is pretty darn outstanding...despite the low avg winning amount.
Usually, high win rate systems have some nasty draw-downs because the stop loss is usually pretty wide....so you have somewhat of an anomaly here.
Are you dealing with a single contract or 2 or 5 or 10 ?