ES Journal Archive (2006 - 2008)

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Quote from m4a1:

took profit after i got 3:1. agree that this is a good move? or do you let it run until the opposite grail shows itself?

Code: 
          entry       exit        pnl
short     1379.25     1381.00     -1.75
short     1380.50     1380.00      0.50
long      1385.50     1384.50     -1.00
short     1391.75     1385.50      6.25

*all papertrades
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do u mean 1:2 risk/reward in this case?

I think that was a great call and a great exit. Price is @ daily pivot point and all oscillators edging higher. Once price breaks pivot to the upside, we might get a reversal, perhaps a strong reversal. My 0.02c :)
 
Quote from m4a1:

i think trying to consistently capture 9 point on intraday trades is unrealistic given the average range is probably around 10 points.
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So what do think? 6 points?
 
1:3. i made a mistake earlier and said my stop is 3 points when it was 2 points. the stop price that i gave was 1394.

1394-1391.75 = 2.25

lol i can subtract today

Quote from romik:

do u mean 1:2 risk/reward in this case?

I think that was a great call and a great exit. Price is @ daily pivot point and all oscillators edging higher. Once price breaks pivot to the upside, we might get a reversal, perhaps a strong reversal. My 0.02c :)
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i thought a good trader can consistently capture 1/4 of a day's range.

but say 1/4 of a days range is around 3 points. to maintain 3:1 then your stop has to be 1 point. that doesn't seem like it's going to work either.

Quote from Buy1Sell2:

So what do think? 6 points?
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Quote from m4a1:

i thought a good trader can consistently capture 1/4 of a day's range.

but say 1/4 of a days range is around 3 points. to maintain 3:1 then your stop has to be 1 point. that doesn't seem like it's going to work either.
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1:3 :)
 
Quote from m4a1:

i thought a good trader can consistently capture 1/4 of a day's range.

but say 1/4 of a days range is around 3 points. to maintain 3:1 then your stop has to be 1 point. that doesn't seem like it's going to work either.
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Your thought process is beginning to gel. Good work!!
 
Quick exercise: What percentage of winners do you need to have with a 3 to 1 system and a 4 to 1 system to be profitable?Let's assume for the example a commission of $25 (.5 pt) round turn. For the example, let's use 6 pt target and 2 pt loss on the 3 to 1 and 8 pt target with 2 pt stop on the 4 to 1.
 
3 to 1: about 45%
4 to 1: about 35%


Quote from Buy1Sell2:

Quick exercise: What percentage of winners do you need to have with a 3 to 1 system and a 4 to 1 system to be profitable?Let's assume for the example a commission of $25 (.5 pt) round turn. For the example, let's use 6 pt target and 2 pt loss on the 3 to 1 and 8 pt target with 2 pt stop on the 4 to 1.
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