Reverse the trade to get back loss

[MarkBrown]

lurking

 

[Big AAPL]

lurking

LOL

 

[doubledoubledoublecup]

You do run the risk of diminishing momentum if you do it too long in a session. So at some point, you have to take max loss. That's where the edge is I think, knowing when and where to exit and resume the streak again.

Do you trade the same ORB setup everyday, or do you make adjustment on size and target to the volitility and sometimes skip breakout trade? I was curious how you were able to dodged the bullet for the entire testing year

 

[ironchef]

Most of the times I have reversed I lost twice as much. You buy when you should have sold so then you sell when you should have bought...getting F'd coming and going.

Ask @Buy1Sell2 or @hilmy83. I tried it, with buy1 sell2. It worked until it didn't work.

 

[ondafringe]

Ask @Buy1Sell2 or @hilmy83. I tried it. It worked until it didn't work.

I guess it's time to go back to 1-tick trading.

 

[ironchef]

I guess it's time to go back to 1-tick trading.

I trying everything and anything just to get my free daily Big Mac.

 

[Zwaen]

I do think every adding, or averaging, or scaling in or out is basically a seperate 'trade'. Just like the sunk costs principle, it should be seen as seperate. And then we are back to "a crary", when correlation goes to zero, it can enhance your strategy, if it does.

 

[zghorner]

Ask @Buy1Sell2 or @hilmy83. I tried it. It worked until it didn't work.

I would reverse on strong momentum...sometimes it worked out sometimes it didnt. More often than not momo dried up instantly and continued original course getting 2 stops instead of 1. My worst performing days daytrading futures are from reversing several times in a short period...killing myself in chop when i should have been sitting on my hands.

 

[ondafringe]

I trying everything and anything just to get my free daily Big Mac.

I think you could make that 1-tick work if you traded manually off a one minute chart, instead of trying to automate it. Have you tried that in SIM?

 

[Zwaen]

%%
Good rebuke LOL
Frankly my first year of trading, My P+L was amazing\not random @ all;
much\ much worse than SPY benchmark or much worse than random.
Another reason RSI or even PSAR[aka PTP] tends not to work very well;
say SPY market move much different up than down+ few bear funds profit much or last long @ all.
Add leverage + insures loss will be much more than cash markets.
Like Cash Coyne -Bright DayTrading Co noted ''leverage is a 2 edged sword''
Some do
Stopped clock may work 2 times per day but not 3 LOL.

You are wise and have a lot off experience