ES Journal Archive (2006 - 2008)

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Quote from Brucelee:

I pay $4 round turn, so 1 tick is 3.125 times commission per contract.
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Ok. so the fee is .32 ticks which makes your stop loss 5.32 ticks. That makes your reward to risk 1.8796 :1. I would suggest a bare minimum of 11 ticks for your profit target instead of 10 and it would be better at 16. Just a suggestion. You'll need those extra ticks to make up for the inevitable losing trades.
 
Quote from Buy1Sell2:

Ok. so the fee is .32 ticks which makes your stop loss 5.32 ticks. That makes your reward to risk 1.8796 :1. I would suggest a bare minimum of 11 ticks for your profit target instead of 10 and it would be better at 16. Just a suggestion. You'll need those extra ticks to make up for the inevitable losing trades.
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Good advice, but it also depends on your win/loss ratio and what happens to your stop loss when the trade goes in your direction, i.e. do you tighten the stop etc. My point is, sometimes the market just does not want to give me 10 ticks so I have to make a judgement. Another time the market wants to give me more than 10 ticks so I might let half go, it all depends on what the market is trying to tell me, nothing is written in stone except that initial stop loss, 5 ticks.
 
Quote from romik:

OK, 10 min points to a decline into the close
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My late day calls are all bad, so I have decided not to make them anymore. Like yesterday, there was upside into the close but it was tiny.
 
Quote from Buy1Sell2:

My late day calls are all bad, so I have decided not to make them anymore. Like yesterday, there was upside into the close but it was tiny.
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I am not complaining.
 
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