How do you Avoid Chop without missing the break (intraday)?

[zghorner]

On average how many trades you made a day? Also what was the duration of your trading day?

as of now I have it down to what I consider a max of 3 successful entries per day. the first entry often needs average # failures to enter with average and max drawdown amounts. The remaining 2 have one entry/exit allowance each.

only trade most liquid hours 07:00-13:00 GMT-6

last two weeks i was trading ~20x per day at least with a high level of mistakes.

 

[zghorner]

Well, learning when stop runs tend to happen can help a lot with that issue. I bet a lot of those failed attempts are in those time windows where stop runs usually happen. I think its easier to just wait for everyone to get blown the fuck out like clockwork and just transact with them.

Just my thoughts on it, because I sense that self-directed crucible you might be trying to run yourself through when it might just be that you are missing some familiarity with the repeated tendencies of ES to meander around filling orders in places/times where they tend to accumulate.

Ill give it some more consideration thanks.

 

[Real Money]

Ill give it some more consideration thanks.

Hey, this is just some volume tools I've been working on. You can see how important this is in practice. If you're not using volume and comparing your trades to other participants, you're missing a lot of information.

 

[Jzwu2017]

as of now I have it down to what I consider a max of 3 successful entries per day. the first entry often needs average # failures to enter with average and max drawdown amounts. The remaining 2 have one entry/exit allowance each.

only trade most liquid hours 07:00-13:00 GMT-6

last two weeks i was trading ~20x per day at least with a high level of mistakes.

I am also learning to overcome my overtrading problem. On the surface it’s overtrading but underneath it’s actually the lack of an edge to differentiate good trades from all other marginal and bad trades, I think.

If true, it requires one to have more time and experience with the market. For intraday trading it’s simply more patience and waiting for the right time with a high probability.

 

[Last]

Ill give it some more consideration thanks.

Here's a trade I took on Monday that illustrates what I'm saying. I'm in central time zone, so entry time would be forward an hour in NY time. Notice how choppy NY lunch was, and then right at the top of the hour/end of lunch, sell stops got raided to fuel that breakout.

 

[HawaiianIceberg]

i do not see any heat in discussion. everyone agrees it works

second entries work not because it is a pattern but because it is the result of trader action.

it is trader action and not patterns that you should trade.

Yes you have high probability of winning. BUT NO ONE SAYS, WHAT IT ISTHAT YOU ARE WINNING.

WHAT YOU ARE WINNING IS SMALL REWARD

AND IF YOU REFUSE SMALL REWARD THEN YOU GET BIG LOSS

Aloha Padu!

glad you’ve returned to ET after some time off

Do you typically have a profit target, or set time you stay in a trade?

I’ve read you reference scalping and trend trading and am interested in knowing what YOU do more of. I know, each entry depends on the setup/context, but in general..?

mahalo!
Mark

 

[MarkBrown]

chop is where all the money hangs out ....

 

[Ironplates]

can you not recognise DB/DT....? can you not see how they behave in history, after the day is done.
try that with second entries too.

also post your trades with as much reasoning why you took it .



if you cannot give one ot two reasons for the trade, you are gambling, guessing, trading on feel or like simplemelike trading on instinct. then this forum can tell you what was right with it.
instead of me doing all the work you should participate. as you said you need the practice. Both brooks and TST says practice like a athlete.

when i started trading 30 years ago i believed, contrary to popular opinion, that markets were rational and that billions of usd was not dumped into a random pot .

this to me that erroneous belief was unbelievable rubbish and now after 30 years, with Brooks help, i have found that there is no mismatch between market action and trader action.

Brooks also categorically states that market action is caused by trader action and since traders act in only a limited number of ways , market action can be known .

market action is always two sided and for every bull trade, there is at the same time, a bear trade.
it takes a long time to see all this and you have to see things .

do not analyse observe

there are none so blind as those that refuse to observe.

could a valid observation be that banks or larger sized algos take an initial position and offer it up to others. is this true?

 

[eleanorK80]

Well, that's a trade secret no trader in his right mind will reveal, don't ya think? However, there are some key attributes you can look out for, such as low volume, inside bars, dojis, etc.

what I was thinking about was the same as yours, it is people's secret no one will reveal that.

 

[schizo]

what I was thinking about was the same as yours, it is people's secret no one will reveal that.

Honey, that ain't no secret. It should be common sense.