So preferring not to scale-in/scale-out of trades = trying to be right more than trying to make money? That's just silly.
Re-entry after profit-taking
- Thread starter Dollardogs
- Start date
So preferring not to scale-in/scale-out of trades = trying to be right more than trying to make money? That's just silly.
Good grief, the fondness for platitudes in this place knows no limits. That's exactly what I'm trying to do and asking about with this thread. I think my system asks too much of QQQ's intraday swings, causing too many breakeven trades. Hence my considering a profit-take & re-entry when advisable system.
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OK\
but we/me[I'm NOT gender confusedLOL] =meaning this pattern is NOT just mine
THAT\
+have to consider temperment+ typing speed or computer skills...............
ALSO have to consider of the few profitable daytrade systems I EVER saw; the one that that made more money, traded less.
True, the cash metals dealer makes more money with greater volume/greater exchange volume ,like a market maker.
But even the Market Makers Edge book uses 6 month charts
I'm really setting new ignore button records with this thread! Seriously, why is this place filled with so many Yogi Berra style contrarians and borderline aphasics?
I ask a perfectly legitimate and open-minded question out of an interest to talk technical strategies. Get a couple interesting replies, push back very lightly on a couple of them and the reaction is insta-butthurt. I just don't get it.
I ask a perfectly legitimate and open-minded question out of an interest to talk technical strategies. Get a couple interesting replies, push back very lightly on a couple of them and the reaction is insta-butthurt. I just don't get it.
Since you're the only one who even tried to get a constructive dialogue going, and you also seem to have been here the longest, I'll direct my question above to you. How did this place end up this way? It's like a pack of poorly-programmed chatbots arguing with each other, I really don't get it. Why is it so hard to find anyone who likes hashing out different technical approaches and can also speak clearly??
I wouldn't take it personally, for one. And while I have been here a seemingly long time, this forum had many more years before it when I joined, so I have certainly missed a lot of what was before. So as to how did the forum end up this way? I cannot say for certain that it hasn't always been like this.
I think there's a certain amount of burnout in a lot of people here, who are weary of seeing the same ideas being discussed over and over again, and the amalgam of those years of viewing the same content over and over gets to some. *shrugs* Give any forum enough time, and the phenomenon is guaranteed to happen, unless it's a moderated forum.
I did want to touch on your comment about the "hopping" stop; I too have messed with both that style and the tick-for-tick trail, and found that generally a hopping style can be good for an instrument with more wider intraday PA, as it might allow you to capture more of the general trend by giving leeway to the smaller pullbacks. You just can't get hung-up on the ultimate profit target because that messes with your mind. The fact that your profit stop is moving up, in either case, should be seen as a victory because you're already in the green and just capturing more loot as it goes up.
Thanks! That makes alotta sense. Course if the themes I'm bringing up are so old-hat to them, why don't they just not bother responding? There's a thought! Move on to the next thread. I can't help it that I'm still pretty new to trading. I don't know. My dayjob is in academia. Nothing more fun to me than bandying ideas back and forth, so the general attitude here just baffles me. At least if the digs were funnier, instead of these flaccid "Good luck dipshit! The market knows better than you" comebacks, I'd enjoy it on pure ballbusting grounds.
Back to the re-entry question: I think you're ultimately right. Think what I'll do is just fore-test virtual spots where I would profit-take and then re-enter as needed, compare that with my actual results for a few months. And unless the results are way better, scrap the idea. It's so tempting but it teeters towards scalping which is not what I wanna do.
If your software you use for trading allows it, set-up two charts; one with real and one with demo account.
Enter your trade on both, exiting your usual style on live account and the exit with new trailing idea on the demo and see how it would have panned out. NT7/8 can do this, not sure about others.