I do use stoch on 5 minute charts as well initially, after the trend has been established (if there is one) I mostly work off 1 minute stochastic, I must point out yet again that I do use multiple time frames for confirmations IF a scalp turns out to be more of a swing trade. Nice to see you on this thread Nampooya, hopefully you can throw in some ideas as well. All the best. It's almost 3.00am in the UK, I am still reading stuff and writing here, time to go I am afraid.
ES Journal Archive (2006 - 2008)
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I do use stoch on 5 minute charts as well initially, after the trend has been established (if there is one) I mostly work off 1 minute stochastic, I must point out yet again that I do use multiple time frames for confirmations IF a scalp turns out to be more of a swing trade. Nice to see you on this thread Nampooya, hopefully you can throw in some ideas as well. All the best. It's almost 3.00am in the UK, I am still reading stuff and writing here, time to go I am afraid.
b1s2......higher percentage........just a lot of experience tells me these things ...not try ing to be ugly.........at all...............and the stochastic is okay just not the fast stochastic......trust me on that one also.....i don't use any of those but they can help for sure especially on a ranging day up and down as the buy/sell ranges are hit.......work better on smoother running days.......the big run days and long trend days macd stoch etc are no good.......
It does not matter if you only have a 20% win rate as long as the winners are bigger than the losers. I myself average about 80-85 % but I know a guy who is around 30% who still makes a lot of money because he uses tight stops and lets the few winners run.
b1s2.......this is the weekend don't get excited ...this is not an argument..........trading contest begins this afternoon........ volente..............u r a bad boy.....20%? i could let my pet rock give me the signals and do better than that...and i been worrying about my cute little pet rock... i think he is dead? ....the problem with all those low % systems is they compound the reasons for failure..........let's face it ......most ALL futures traders will not have positive cash flow for long if at all.........now let's look at it this way........if you wish to graduate from any school at any level and u make less than 70% u r not going to pass......if very few pass and that very few pass in futures trading is not disputable..........not in a million yrs has that been questionable.........i am talking individual traders.........the emotional challenge is the reason there is high failure rate......not the systems failures.......fear of losing.......not fear of losing money........the fear of failing.........if i have a system that runs on low %........what is my lifetime upbringing telling me? FAILING....i can cut losses short and let winners run????? ALL TRADERS ATTEMPT TO DO THAT....CORRECT?..........but just me sitting here trying to manipulate a loser into a winner each and every day won't work........the professionals could do that but do you think they operate with low % systems .....i personally would think not.....they could do that because they are in control of their emotions..........but can u imagine a professional working for a corporation using a low % system.........NOT GONNA HAPPEN...my good trading friend volente with whom i am not fighting or fussing just chatting with very happily so and extremely nice enough i hope so poor little "newbies" won't get damaged by mean old porgie....... 
Porgie, in an effort to agree to disagree but in the spirit of helping this thread and not hurting it, I would like to make these comments in regards to your recent post and to trading philosphy in general.
You said: "20%? i could let my pet rock give me the signals and do better than that"
Once again, if that 20% winning trading strategy turned $50,000 into $1,000,000 in a years time would you turn it down because it was only 20%? If you were a general manager of a baseball team would you rather have a player who hit .325 and hit all singles or a guy who hit .300 and hit all home runs? Same analogy ... winning percentage is meaningless, risk reward ratio is all that matters.
You said "if you wish to graduate from any school at any level and u make less than 70% u r not going to pass"
Trading is not school. That is why some of the best and brightest minds fail at trading because they believe if they just work real hard, just like they did in their other careers that it will guarantee success. Pardon the baseball analogy again but Alex Rodriguez bats roughly .333 every year. He makes 18 million dollars a year. He must be a loser because he does not "win" at least 70% of the time.
And lastly, not to argue with you but as hopefully a point for all new traders to consider. Just because someone says S&R, moving averages, etc, etc, doesn't work does not mean it doesn't work. I know it works for me, I have profited from it over the years so please don't dismiss it because you were unsuccessful trading a method that others have profited from.
That is like me saying to everyone on this thread that they shouldn't trade ES because I lost money doing it. Apparently B1B2 is making money doing it so it is possible.
You said: "20%? i could let my pet rock give me the signals and do better than that"
Once again, if that 20% winning trading strategy turned $50,000 into $1,000,000 in a years time would you turn it down because it was only 20%? If you were a general manager of a baseball team would you rather have a player who hit .325 and hit all singles or a guy who hit .300 and hit all home runs? Same analogy ... winning percentage is meaningless, risk reward ratio is all that matters.
You said "if you wish to graduate from any school at any level and u make less than 70% u r not going to pass"
Trading is not school. That is why some of the best and brightest minds fail at trading because they believe if they just work real hard, just like they did in their other careers that it will guarantee success. Pardon the baseball analogy again but Alex Rodriguez bats roughly .333 every year. He makes 18 million dollars a year. He must be a loser because he does not "win" at least 70% of the time.
And lastly, not to argue with you but as hopefully a point for all new traders to consider. Just because someone says S&R, moving averages, etc, etc, doesn't work does not mean it doesn't work. I know it works for me, I have profited from it over the years so please don't dismiss it because you were unsuccessful trading a method that others have profited from.
That is like me saying to everyone on this thread that they shouldn't trade ES because I lost money doing it. Apparently B1B2 is making money doing it so it is possible.
After posting my last message and walking away I felt I needed to post this. I am not big on "look at me, I am making a killing" because as life has taught me over the years as soon as I think I am big stuff I get a swift kick in the a$$.
Also, I am not posting this to recruit people to a system (not interested, don't have the time or desire) or to pound my chest and say everyone look at me and all the other stuff that goes with it.
This my automated systems trading results from last Friday trading the Russell emini based off of support and resistance and a few other customized forumulas I have created over the years.
Believe it or not, this is a pretty typical day. No, not everyday is a big winner but the losing days are very small in general.
Many may say, BS, you made it up, doctored the chart, etc. I understand your point of view and commend you for having it. I never believe anything until I experience it myself either so I understand.
I post this only to prove a point. Winning percentage is meaningless.
B1B2, my apologies for posting this chart on the ES thread. Thought it might be helpful for newer traders to keep the eye on the ball which is $$$ made while protecting capital.
If you ask me to never post here again I will honor your request. Best of luck. Hopefully this will provide some value.
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Friday May 12, 2006 - Russell Emini
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Trades : 20
Winners : 10
Losers : 10
Points +/- : 12.3
Profit : $1230 per contract
Commisions : $100 per contract
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Realized Profit : $1130 per contract
* I pay less than $5 for RTs, but it is cleaner for this example.
** How many contract I trade is none of your biz.
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Also, I am not posting this to recruit people to a system (not interested, don't have the time or desire) or to pound my chest and say everyone look at me and all the other stuff that goes with it.
This my automated systems trading results from last Friday trading the Russell emini based off of support and resistance and a few other customized forumulas I have created over the years.
Believe it or not, this is a pretty typical day. No, not everyday is a big winner but the losing days are very small in general.
Many may say, BS, you made it up, doctored the chart, etc. I understand your point of view and commend you for having it. I never believe anything until I experience it myself either so I understand.
I post this only to prove a point. Winning percentage is meaningless.
B1B2, my apologies for posting this chart on the ES thread. Thought it might be helpful for newer traders to keep the eye on the ball which is $$$ made while protecting capital.
If you ask me to never post here again I will honor your request. Best of luck. Hopefully this will provide some value.
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Friday May 12, 2006 - Russell Emini
-----------------------------
Trades : 20
Winners : 10
Losers : 10
Points +/- : 12.3
Profit : $1230 per contract
Commisions : $100 per contract
------------------------------
Realized Profit : $1130 per contract
* I pay less than $5 for RTs, but it is cleaner for this example.
** How many contract I trade is none of your biz.
------------------------------
I think most people would consider testing any advice given on ET, Porgie makes suggestions without revealing his methodology, therefore nothing really to test for the readers based on his writings. I do not think he should take my comments the wrong way. He does make some very good suggestions though. Trend is your friend being one of them, I like reading that statement every so often here, as it is true so many times. How many times do we enter into a trade against the trend and fail? His comments on keeping it simple also do help to not over complicate analyses. The one about scaling out is also very good. He is a little leary though
I agree with you there. Now, let's get back to discussing our trading and not discuss individuals, one could always use the ignore button. Porgie Mocker I hope you could start posting here under your usual user name and I am hopeful that your experiences would benefit others. All the best.
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