I am done for the day as I just have other things to do. However, it is a great day for trading These SBP trend days are good and strong trends. You just have to watch for reversal around 12 to 2 central time and be ready if they come. But as long as the trend is up and grinding it is a strong trend and great for buying PB's and selling at swing highs or just adding onto a position on PB's and holding until a reversal takes place or end of session. I think I am done for the day but I may buy a contract or two in the ES an same in the NQ and just let it run.
Anyway 100% win rate in both emini's today. Did take a few globex trades in both but most trades were in the RTH. What looks different to you about these stats than those for other days?
Well ...I suppose I am ending this. Important things below:
1) To have a consistent high win rate
2) Average win bigger than average loss (prefer it to be twice as big or more much not always achievable..at least for me LOL)
3) Biggest winning trade larger than biggest losing trade
4) Net Profitable at end of session
These 4 things will keep one in profitable standings if one can achieve them. I try to achieve them every day. Some days I don't make the cut in 1 or 2 but the rest pull me out.
I would suggest a trader learn the dynamics of PA and how to read and interpret those dynamics. Have, find, or develop tools that work in multiple senarios and be flexible. View the markets as complex and dynamic..flexible.. Not simple and linear. Think in terms of possibilities as opposed to probabilities. Using just math cannot be successfully (over the long haul) employed in the markets because they are not linear and you can never know all the possible variables and never know when at any time those that you do know are in play or not in play. And there are variables that have never even been considered or conceived (yet to be discovered) However, that said, math can be used in trading and has a useful place but trying to trade just using math based indicators will fail over the long haul IMO.
The 4 things above can be achieved but it does take time to find out how to do it in a way that fits ones style and personality. I am a scalper hence the way I achieve those metrics above shows what type of trader I am. But the same metrics can be achieved in other styles of trading if a trader can focus on learning and interpreting market dynamics within PA and be flexible...think in terms of possibility and be prepared psychologically for trading, training oneself to focus on the process and the correct implementation of the process as opposed to focusing on the money. If one can develop a viable process and train oneself to focus on the execution of that process the money situation will probably (or has the possibility!) of working out just fine.
Happy Profitable Trading!
First two stats are for NQ and second two for ES
Anyway 100% win rate in both emini's today. Did take a few globex trades in both but most trades were in the RTH. What looks different to you about these stats than those for other days?
Well ...I suppose I am ending this. Important things below:
1) To have a consistent high win rate
2) Average win bigger than average loss (prefer it to be twice as big or more much not always achievable..at least for me LOL)
3) Biggest winning trade larger than biggest losing trade
4) Net Profitable at end of session
These 4 things will keep one in profitable standings if one can achieve them. I try to achieve them every day. Some days I don't make the cut in 1 or 2 but the rest pull me out.
I would suggest a trader learn the dynamics of PA and how to read and interpret those dynamics. Have, find, or develop tools that work in multiple senarios and be flexible. View the markets as complex and dynamic..flexible.. Not simple and linear. Think in terms of possibilities as opposed to probabilities. Using just math cannot be successfully (over the long haul) employed in the markets because they are not linear and you can never know all the possible variables and never know when at any time those that you do know are in play or not in play. And there are variables that have never even been considered or conceived (yet to be discovered) However, that said, math can be used in trading and has a useful place but trying to trade just using math based indicators will fail over the long haul IMO.
The 4 things above can be achieved but it does take time to find out how to do it in a way that fits ones style and personality. I am a scalper hence the way I achieve those metrics above shows what type of trader I am. But the same metrics can be achieved in other styles of trading if a trader can focus on learning and interpreting market dynamics within PA and be flexible...think in terms of possibility and be prepared psychologically for trading, training oneself to focus on the process and the correct implementation of the process as opposed to focusing on the money. If one can develop a viable process and train oneself to focus on the execution of that process the money situation will probably (or has the possibility!) of working out just fine.
Happy Profitable Trading!
First two stats are for NQ and second two for ES
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