it doesn't pay to make a few points here and there, quality of life can only change if your banking 50+ points on moves.
ES Journal Archive (2006 - 2008)
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it doesn't pay to make a few points here and there, quality of life can only change if your banking 50+ points on moves.
oi, a hurricaine just passed through there, closer to belize, yucatan, Xcalak...
I love that climate.
Most likely then it should all be removed at PT1 unless PT2 is well above PT1 and the it might be possible that PT2 is the better target. This is what I mean by having PT2 calculated correctly.
There really should be no PT2 by the way. There should either be one target and one target only, or the trade should just be allowed to run with a trailing stop outside the noise. A stop of a few ticks is a stop that is begging to be taken out. Trades should be all in and all out. If I use a signal to get long, I will use that same signal in reverse to exit. Otherwise the trade usually still makes sense on the long side.
You posted this right near the top before we pulled back nearly 180 points. How are you going to tell me you can set far out point targets when you are wrong on the direction ? My point is no one knows what the market will do on a longer time frame. It is easier to predict shorter moves because there are to many unknown variables for the longer term.
http://www.locogringo.com/maps/tour/xelha-aerial2-t.html
nice place, when its not crowded, close to Tulum.
nice place, when its not crowded, close to Tulum.
Entries that are chosen with very strict criteria and patience will rarely get stopped out at 10 points if 10 is outside the noise, but are easily stopped at 2 points. I am interested in trades that net a lot of money with minimal commissions and require less work at trying to get back in after a stop out. A daytrader who makes 1 or 2 trades a day total or even no trades 3 days of the week will most likely be the winning trader. This is why you can't say "done for the day" at 2:45 PM. Signals can present themselves any time of day. I believe in blowing off the after hours trading however and just trading RTH. This will allow daytrader to have a life. Exit all positions before the end of trading and go on to other things in life. If you don't exit, the you are a swing trader and need to have position size correct when you enter a trade. Do not even think about the markets and then come back 30 minute before the open and start looking for signals. Daytraders do not need any fundamental information. There is nothing that needs to be reviewed or watched each evening. Just take the good signals during RTH and get some sleep every night or get the garage painted. Watch Ramsay's shows and Big Brother and enjoy life.
see how someone pressed the break, but that 'presser' needs to revitalize his cap, meaning he needs increase cash reserves, once you press and you don't have others pressing with you, and you try to increase cap back, price rebounds and more slippage is there..
edit: you want to see slippage in your direction. It tests the inherent strength of the market, if its fragile, the slippage will be in your favor, and if its strong, then slippage will be against you as you try to revitalize cash reserves.
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