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ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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jj.....just like different systems, people are made differently...some like to be aggressive, some conservative..conservative ones will usually take money out as they ride the run....aggressive ones will take the all in all out approach....some will scale in not out..some like the thrill of the gamble/risk...some only seek the homeruns such as our friend B1S2...he is a good guy i am sure.......I personally like all systems that work depending on the strategy used....for scalping all in all out is the one.....the scenarios are so numerous as we all know..the thousands of combo's with customized settings on most is spectacularly massive in time required to find the best for the individual emotional tolerance, etc..my simple system is never foiled by changing markets as it is based on true turns...my signals are mathematically impossible to foil more than occasionally....
Quote from apex82:
I cant believe it... but this is the first time I have ever agreed with porgie.
Scaling out is one of the most important things that I have learned in trading.. hands down.
Nothing is worse then having a huge winner and losing it all the next time you look at your screen. It crushes me and it takes me out of the zone. Just because the trade is going your way you cannot predict the market. It can reverse in a seconds time and drop a 100 points if it wants too. I always take some off at a predetermined target to reward myself. Nothing is better in trading when you are trading with no fear and are confident. Scaling a piece out for me allows me to stick with trade and let the last piece run without thinking about every little thing that could be wrong for the trade. I am basically playing with the house's money.
It allows me to trade in the zone which is critical for success. I know some of you have felt it before..
Hey Apex,
I know you track stats of your trades, out of every 10 trades how many do go in line with your projections? You normally hold a proportion of your initial stake for a home run, how many times out of 10 does it reach target?
Quote from porge:
.my simple system is never foiled by changing markets as it is based on true turns...my signals are mathematically impossible to foil more than occasionally....
Hi Porge,
Are you going to share this simple system with the rest of us?
Given that success lies in the execution, you stand to lose nothing.
Quote from romik:
Hey Apex,
I know you track stats of your trades, out of every 10 trades how many do go in line with your projections? You normally hold a proportion of your initial stake for a home run, how many times out of 10 does it reach target?
Yes I am very on top of my trades and how they work out. I have several setups on many timeframes that I trade so the answer to the question really depends on the setup. On my main setup my stats show that I reach my initial target 80% plus. The second target in the lines of 65% and the third target less than 50%. The third target is generally a trailing stop where I can hang on through an impulsing market.
Knowing this info is why I always scale out.
Quote from apex82:
Yes I am very on top of my trades and how they work out. I have several setups on many timeframes that I trade so the answer to the question really depends on the setup. On my main setup my stats show that I reach my initial target 80% plus. The second target in the lines of 65% and the third target less than 50%. The third target is generally a trailing stop where I can hang on through an impulsing market.
Knowing this info is why I always scale out.
And what is an average 3rd target (points) and an average stop?
Quote from porge:
apex...excuse me, but if this is the first time you have truly agreed with what i said, you have a long journey ahead of you, if you are an emini daytrader....scalping or riding runs...
I have made many calls and trades on this board and other threads that are plain and simple... unbelievable. Yes, I do have a long journey of consistent success ahead of me.
Quote from romik:
And what is an average 3rd target (points) and an average stop?
It depends if I am going to trail it or not. But as an average target for an intraday trade on the er2 is around 6-8 points. On a swing trade around 30 points. It all depends on the market structure for the trade. The stop on intraday is 1-1.5 points and a swing trade 2-3 pts.
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