From Micros to Millions: 2% per day

[volpri]

I'm waiting for @volpri to make his entrance...

I made entry and am about to exit...Lol...not enough averaging down here for me but still profitable scalps. Kinda like manual HFT ....precise ...surgical strikes.

Remember over and over I have said “GRAB them profits”.

 

[syswizard]

Where can I see the "proof" you mentioned that supports my personal observation? Thanks.

Keith Fitschen, well known trading system developer, has mentioned this. He has created one of the most successful trend-following systems. However, that system is for longer term trades lasting weeks or even months.
For intraday trading, he espouses counter-trend systems....based on his testing.
Finally, my own intraday trading system that is trend-based shows poor performance for the most part.....especially lately. When the daily range shrinks, you can't expect good intraday trends.

 

[Damanuelman]

Yeah, but what about the last 2 hours ?
ES/NQ has shown to make some good moves after 2:30 pm.

No that's the devil's temptation right there. Especially on expiration friday or a fed meeting.

 

[volpri]

Keith Fitschen, well known trading system developer, has mentioned this. He has created one of the most successful trend-following systems. However, that system is for longer term trades lasting weeks or even months.
For intraday trading, he espouses counter-trend systems....based on his testing.
Finally, my own intraday trading system that is trend-based shows poor performance for the most part.....especially lately. When the daily range shrinks, you can't expect good intraday trends.

Not entirely syswizard (hereby dubbed Western Auto because of their wizard products ) because small range days in the form of SPBT days (small pullback trend days), either SPBR (small PB bear trend) or SPBL (small PB bull trend), are some of the strongest trends to trade and they can last the entire session in spite of being composed mostly of small range bars.

Examples:

 

[syswizard]

Not entirely syswizard (hereby dubbed Western Auto because of their wizard products ) because small range days in the form of SPBT days (small pullback trend days), either SPBR (small PB bear trend) or SPBL (small PB bull trend), are some of the strongest trends to trade and they can last the entire session in spite of being composed mostly of small range bars.

There's no denying that...but what's the FREQUENCY of when see these kind of days ?

 

[volpri]

There's no denying that...but what's the FREQUENCY of when see these kind of days ?

I would say about once or twice every couple of weeks.

 

[sstheo]

Also, I don’t think he would be able to do it with stock index futures.


What DD are you willing to live this on your journey to 1M?

I am still finalizing my max per-trade Draw Down, but on the day, it is 5% per day. At $7k, that would be $350. This would give me at least a bare minimum of 20 to 25 trading days of "air."

 

[sstheo]

With the covid economy and election year, your task should be like a walk in a park.

(I mean Central Park(NYC) at night time...

P.S. Make sure you avoid the pussy MES and only trade the robust MNQ.

HAHA. The volatility is GREAT indeed. I am trading the MNQ routinely, and it is a crazy ride sometimes. The MES, on the other hand, has very little slippage, and I have made that my mainstay for now, for this very reason. MNQ and MYM used to be all that I traded before the spread widened (permanently it appears). When I trade the MNQ and MYM, I enter and exit with limit orders 80% of the time.

 

[sstheo]

You will fail and blow up. Remember the words of Jesse Livermore:

“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.”

Great quote. But I reiterate what I said in my first post-- My daily goal is a great target, but not a requirement. I will not force a trade. I am 0% interested in getting 2% or 3% per day if I have to chase trades or do other things that might put my account in jeopardy. Capital preservation is #1.

 

[sstheo]

nice high polish advertising who come up will all the bullshit for you, i need a quote.

@MarkBrown Sorry, just me. But I had a journal on FIO before they kicked me off, and two other journals here. So I have had lots of practice... How can I help you?