This is only 30 minutes and you see I would have made a profit at nearly every entry point.
Index futures scalping
- Thread starter farmerjohn1324
- Start date
This is only 30 minutes and you see I would have made a profit at nearly every entry point.
Focus more on your exits more. You are missing an essential portion.
In farm terms you don't plant a crop without a, growing, harvest, storage and sale plan.
Based on your responses in this and other posts, it is best you do more work before anyone, including me or MB, give specifics on what to do because you would not understand the details enough to customize it for your situation and avoid the short falls.
NO person should be giving you tools that could contribute to getting crushed. Right now, everyone worth their salts, is thinking "martingale blow up". 5 ES contracts with a neglected exit plan means sub optimal risk management. We are trying to protect you from yourself, even if you insist it is not necessary.
Good competent traders don't suggest things to other knowing they are not ready and are live and using futures.
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I already know my exit on the "P" side. That's why I need backtesting software to play with several variables to find out the best spot to put the "L". I have to put it somewhere unfortunately.
Wouldn't it be easier to show where I couldn't have bought? I could have bought anywhere other than a few spots that didn't get a profit in 30 minutes. That says nothing about whether it could have made a profit in 60 or 90 minutes, or even 12 or 24 hours.
Last comment from me. You just bolstered my points. You think 1) you are 1/2 done, 2) P and L are separate exit solutions, 3) are missing more than 1/2 and don't know it. 4) not really in the ball park yet alone in the game, more like in the parking lot getting a game guide.
Not trying to tear you down, but to give honest feedback. Been there, done that several times. Keep on trying and consider looking outside your trading paradigm, 4x times.
First of all, you do realize the bar color is determined after the bar is closed, right?
Second, each of those bars are seconds long as in 1, 2, 3, 4 etc.
Third, as was mentioned already micro-scalping like that is best done by a bot.
Fourth, do you go short?
Hello farmerjohn1324,
Yes, I agree with you on this.
You have to take the small profits in the ES markets to calm the mental and win alot.
If you try to manual swing trade for big profits, you get the drawdown and work very hard to recover and have to think alot while in drawdown. We need high win rate to feel good day to day. Or be stress trying to swing trade for home runners and letting the winners run thinking.
It feels good to win every day of trading.
Your questions make me believe you don't even understand what I'm trying to do. Not to mention the fact that a 30-minute chart is irrelevant to me.
Thanks for no advice under the guise of being "too advanced" while providing no proof of anything you do. Awesome metaphors though!
Sorry, but no, no, no and no.
You need bigger wins and smaller losses, not more wins than losses.
Win rate by itself means nothing (except maybe give you the illusion that you are making money, until you don't!).
Getting a high win rate is very easy (I can give you losing strategies with 97% win rate!).
The best way to make money almost every day, but to lose it all at some point, is to do what farmerjohn is currently doing (but trying to solve).
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