Price Action by Bryce Gilmore
- Thread starter Chuck Krug
- Start date
I think Bryce Gilmore was talking about day trading ES way back in 2007.
In 2007, ES was around 1200.
Now it is around 4200 ( ie 3X higher).
6 ticks max loss might be ok in 2007.
Nowadays, 6 ticks max loss is far too tiny.
I use 12 ticks max loss.
Occasionally, I'd increase it to 24 ticks or more when the market is
extremely violent.
In 2007, ES was around 1200.
Now it is around 4200 ( ie 3X higher).
6 ticks max loss might be ok in 2007.
Nowadays, 6 ticks max loss is far too tiny.
I use 12 ticks max loss.
Occasionally, I'd increase it to 24 ticks or more when the market is
extremely violent.
Thank you Chuck Krug
For me 1) means:
I don't trade when you only have an hour. Only trade when I have 4 hours, this way if you have a losing trade you still have the time to make winning trades.
I don't trade when you only have an hour. Only trade when I have 4 hours, this way if you have a losing trade you still have the time to make winning trades.
I don(t know, I think it depends on your style, if you have that scalping mindset, and don't have any problems getting back in the same trade after getting stopped out, tight stops can work.
PS: I guess it depends on the product you trade too. I would use tighter stops in nq then ES, because nq offers more opportunities
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Good points on 60 minutes; \
but really depends on market.
I seldom believed the 60 Minutes CBS [stopwatch ticking\LOL] Show\LOL
