Keeping It Simple

Good day for the 30 min. breakout. Short at 1012 and sold 1 ctx at 1007. My target was 998 and got out on stop above 3 min bar at 999. I have personally trading 2 ctx and getting out of 1 ctx at +5 and trading the 2nd as close to possible by Db's method. It has recently worked pretty well as many of my trades have been +5 on 1 ctx and b/e on the 2nd.
 
DB,
One quick question. In calculating the 10-day moving average to come up with your targets, do you use the HL range for the regular market hours only, or do you use the HL range for the entire trading period (including aftermaket hours)?
 
I agree with that mojo, for some reason, at least so far, the +5 has worked well.

It's funny because I've been using exactly the same method, using 2 contracts and exit 1 at +5 and trying to get as far as I can with the 2nd using trendlines.
 
Quote from arzoo:

I agree with that mojo, for some reason, at least so far, the +5 has worked well.

It's funny because I've been using exactly the same method, using 2 contracts and exit 1 at +5 and trying to get as far as I can with the 2nd using trendlines.
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Hi Arzoo,

I know that Db feels that trading in this way is a return to scalping and he is right. But for me personally at this point in my trading, having 5 pts in the pocket makes it easier for me to be patient and trade the 2nd ctx well and as close to Db's method as possible. Db, you are the man. Thanks again for all your help.
 
I second that. Db's been really helpful and very considerate in answering my queries (even if they may reach the point of silliness at times).

The reason I do get out with 1/2 is that I'm not too good at this yet. So I try to stay more conservative and take whatever I can. I do agree, however, that Db's style on letting things run should be the end goal since that is when you are able to maximize your opportunities.

But at this point I'm not too good at staying away from those 'careless' trades yet so the take 1/2 profit helps me escape some errors, hopefully, when I do get better, I'll be able to avoid these and move to Db's exit strategy more.
 
Quote from RAH2153:

DB,
One quick question. In calculating the 10-day moving average to come up with your targets, do you use the HL range for the regular market hours only, or do you use the HL range for the entire trading period (including aftermaket hours)?
More...

Regular market hours only.

--Db
 
This may be a dumb question, but being new at e-minis I'd like to ask how would you know when to stay out.

Like today (tuesday, 3/4), it was a day where the NQs stayed in a very small range. It looked like both NQ & ES were heading south around 9:50am but the NQs stalled at 985 and went back up.

Are there signals that can warn you of a range day?

Thanks.
 
You can't know in advance, though there is generally a likelihood of a range day after a trend day, but even this isn't guaranteed since markets sometimes reverse the trend day the following day, which is why you should continue to play this particular system until the chart tells you whether there's a range or not.

Other than that, the signals are in the chart. Yesterday, for example, there were no trades with this system as the entire day was within the opening range, unless you took the 1440 trade, but that was pretty iffy.

--Db
 
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