ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from Buy1Sell2:
If the market moves 5 pts most of the time after a signal, it would be best to exit all at that point. As far as whether or not it is better to let the whole trade ride to an actual reversal, I say yes. You will make less each day, but will hit the big winner and it more than makes up for not taking the profits at 5. Remember we are using trailing stops in each scenario. The bottom line is that if your target is 3 , let it run to 3 not 2.5. If it is 5 let it run to 5, if it is until there is a reversal, let the whole thing ride until reversal.
We'll compare the results on daily basis. I will post my data based on all in/all out AND reverse, I will not be using trailing stops in my trades. M4A1 and/or you I assume will try to track trades based on all in/out predetermined R:R AND use a trailing stop. Is that OK?
EDIT: I will be closing all trades at the MOC as I am gathering data off a 5 min TF.
Will try to. I think it would best to track how far your trade runs each time versus how far it runs against you, so that a feel can be gotten for r to r. After you post the trades, I'll look back at them and see just how far they went. Over time, we should get a good idea of this using your signals.
emini daytrading homerun system is not best..unless combined with putting something in bank each time....... ....since you are still in the questioning mode it says the answer is not there for you yet.....the scenario u describe of almost seeing these point targets has been occurring for 6 years i know........from the first day i saw es chart to this day and this moment.......it won't change........obviously.....it is simple .......devise a system that puts money in the bank consistently and do your riding with the rest.....2 x 50 is 100 a few times a day....rest of contracts make the big money....sometimes.......... the problem comes when entry is sell low and buy high..............rest is gravy...combining conservative system and aggressive...........i will leave now if all is well.........hope u figure it out.......
Remember, all we are looking for is the probability of a particular move ocurring, not a win on every trade. we will need to look at far each signal actually went when said and done.
The short signal at 1382.25 is still in effect with the reaction high of 1383.00 to be deferred to first.There was a class A bullish divergence at 6 AM that led from 1381 to 1383. and then the short grail appeared. All on 5 minute chart.
Romik, B1 and M4
I am looking forward to following this test. As I don't know very much about divergence trading could you tell me if there is a way of somewhat being able to predict the size of a move using this method. When I was daytrading my S/R numbers I did not have a clue as to how far a move would go. Could have gone to the next S/R level but most times it did not do it without some form of reversal first. It took me a couple of months before settling with the 2 point trade I was taking. If I was to do it again I would probably have done my journal on trading with flag patterns as they do provide an educated guess as to how far the move should go in the even of a break out of the pattern. I don't know if somewhere down the road you might be able to incorporate that into your plan or not but it might be helpful anyway.
Anyway I am looking forward to it.
Gary
I am looking forward to following this test. As I don't know very much about divergence trading could you tell me if there is a way of somewhat being able to predict the size of a move using this method. When I was daytrading my S/R numbers I did not have a clue as to how far a move would go. Could have gone to the next S/R level but most times it did not do it without some form of reversal first. It took me a couple of months before settling with the 2 point trade I was taking. If I was to do it again I would probably have done my journal on trading with flag patterns as they do provide an educated guess as to how far the move should go in the even of a break out of the pattern. I don't know if somewhere down the road you might be able to incorporate that into your plan or not but it might be helpful anyway.
Anyway I am looking forward to it.
Gary
Good Morning, Just a brief one Gary. We are not looking at divergences, but at RSI on a 5 min TF making higher lows - Long signal and lower highs - short signal.
B1S2 is looking at staying in the trade until his R:R of 1:3 has been reached and after that using a trailing stop.
I am looking to reverse every position upon a presence of a reversed RSI signal. So if I am Long based on higher lows in RSI and spot lower highs I would reverse and go short.
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