I should clarify that I am talking about rockets trading index futures intraday. 666's comments seem to be referring to stock trading which I know nothing about. Since he was quoting me I responded from my perspective. I believe this thread is primarily about trading index futures.
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Question for Grob/Hershey...
- Thread starter makosgu
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This is a good drill to help you with your exits:
"Quote from Grob109:
...
Drill two is to enter and then, slowly, look for the best entry in the opposite direction. Stay in the original entry until you a damn sure the one you have found is really super, then take it right after you close out the prior entry. Do this 100 times and do not exceed 20 times a day. Do this on the way back from the Carribean. Keep sending the money to your mom. Fuck your dad, he was bugging you a lot about a lot of things anyway.
I know you won't do any of this because you are so fixated on fear and the fear seeds. And, moreso, that they have a cure.
The moral of the story (east to West) is that, you can exit any entry and not fall off the edge of the earth or even have to lose any money. And not so important (West to East), almost any entry will make you some money despite yourself.
..."
Quote from AllenW:
May I ask about your exit technique? In my experience, getting out on the XO of the 20/80 line can be either premature or late. Thanks
Quote from easyrider:
I honestly dont know how you would backtest rockets. I would say about three fourths of my rocket trades do not work out. I call them washes but they might be minus a tick or two or plus a tick or two or flat. Over time they average out flat. About one out of four turn a profit, a couple of points, sometimes several points. I never take any significant losses with them. Occasionally I will get clipped for a point but it is rare. I just dont know how you would include the washes in your backtesting. They are critical to trading rockets. You are trading momentum. It must go your way almost immediately. If it stalls around you get out, no ifs ands or buts. If you are entering on momentum with volume at your back it is almost impossible for it to reverse on a dime and trap you. If it does you go out at market and curse for a bit. It happens occasionally.
This is very pertinent info. for me. Thanks! I'm somewhat surprised at your ratio of success---seems like the past few weeks they have been much more successful than 25%? How do you handle a situatiion like Friday fom 12:30 to 2 :00? Does the fact that you are near the HOD cause you to be more cautious? Do you keep re-entering? Any obvious flaws? Sorry if I'm being a pest. Would love to hear your comments.
Quote from AllenW:
This is very pertinent info. for me. Thanks! I'm somewhat surprised at your ratio of success---seems like the past few weeks they have been much more successful than 25%? How do you handle a situatiion like Friday fom 12:30 to 2 :00? Does the fact that you are near the HOD cause you to be more cautious? Do you keep re-entering? Any obvious flaws? Sorry if I'm being a pest. Would love to hear your comments.
As I stated a few posts back they have been working very well lately. I am talking over the long run. When you get into a sideways market Ive seen lots of days with nothing but washes and once in awhile you get those days with two or three moonshots in a row. The 12:35 rocket was only good for a point if you went by the book as the 12:45 bar took back most of your profit. I seldom reenter a rocket in an uptrend but will gladly do so in a downtrend when gravity is on my side. Just a personal preference.
re: exiting the 12:35 rocket, this is where you will find prv invaluable as it would have gotten you out with a few more bucks.
I know why YMs the leader.But I still find lagging charts and having to switch over to the DOM too much of an ask.'If' Mr Hershey has been using people like me to tailor his systems analysis for better transference then I've earned some reciprocation.I've done more to further this project than most but I'm not going to kiss .... .
Just out of interest,does anyone know the law regarding providing (selling) charting software that is 'fit for purpose'?
(I've been using T&S)
Also,has anyone had the experience of clicking the transmit 'button' of their TWS only for nothing to happen?It happened to me yesterday and I had to click the mouse several times before my order was transmitted.
Just out of interest,does anyone know the law regarding providing (selling) charting software that is 'fit for purpose'?
(I've been using T&S)
Also,has anyone had the experience of clicking the transmit 'button' of their TWS only for nothing to happen?It happened to me yesterday and I had to click the mouse several times before my order was transmitted.
Quote from jonnyy40:
I know why YMs the leader.But I still find lagging charts and having to switch over to the DOM too much of an ask.'If' Mr Hershey has been using people like me to tailor his systems analysis for better transference then I've earned some reciprocation.I've done more to further this project than most but I'm not going to kiss .... .
Sometimes I am tempted to put you on ignore with the other team who are still running rampant evidently.
"More to furthur this project than most?" Are you saying you are owed something because of this statement? Perhaps you could point me to your contributions so that in can be incorporated in to the collective. If "furthuring the project" means showing a path "NOT" to take, it is the same contribution as the rest of ET. The MBTrading/QCharts???
I thought you were only trading stocks for the forseeable future (no pun intended)...
Mak
Did you trade yesterday? If so I would really like to know how you handled that downdraft shortly after 11. I was lucky enough to already be short off the ftt on the fourth channel which was a lower high and one of my favorite "setups". I bailed on the wrb. I am sure you were also short but am really curious how you handled the bottom. Did you exit or reverse? If you reversed could you please walk me through it.
p.s. Jack if youre watching, the same question, please.
Did you trade yesterday? If so I would really like to know how you handled that downdraft shortly after 11. I was lucky enough to already be short off the ftt on the fourth channel which was a lower high and one of my favorite "setups". I bailed on the wrb. I am sure you were also short but am really curious how you handled the bottom. Did you exit or reverse? If you reversed could you please walk me through it.
p.s. Jack if youre watching, the same question, please.
Quote from easyrider:
Mak
Did you trade yesterday? If so I would really like to know how you handled that downdraft shortly after 11. I was lucky enough to already be short off the ftt on the fourth channel which was a lower high and one of my favorite "setups". I bailed on the wrb and caught almost all of the move. I am sure you were also short but am really curious how you handled the bottom. Did you exit or reverse? If you reversed could you please walk me through it.
p.s. Jack if youre watching, the same question, please.
I did trade yesterday but not ES but rather EURO Fx. It was also the London session and not the US... However, that's a whole other thread to get into... Txuk might have some comments...
Regards,
MAK
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