So doesn't using "tight stops" necessitate

Quote from jdeezero05:

Yea same here, 10 YM points is my "stop" but usually manually closing the trade at 7 or 8. My stop is more to guard against a program sweeping the market against me.
More...

Wow. All the backtesting I did was on the YM and it has so many "tall bars" that nearly every position I took went at least 10 points against me before it went in my favor. That's why I stopped trading the YM... I hate tall bars, and I always got the worst fills on the YM.

You must be a master if you are picking correct entires with less than 8 points of noise on the YM!!!
 
Quote from Schaefer:

Ironfist, it's good to see you slowly evolve as a day trader :)
More...

Emphasis on *slowly* :D

Yeah maybe my timeframe is wrong.

I've been using 3 constant range bars and 250 tick charts on the NQ. Are those too fast/slow for 3.25 point stops?
 
I'm going to post some charts but I'm going to alter them so that a) they appear exactly as I saw them WHEN I PLACED MY TRADE and then b) how they looked after.

The reason I'm doing this is because people always post charts after the fact and they took one trade on it that was hugely profitable, and they're like "yeah I'm awesome look I made a billion points right here with xyz setup, see?" But xyz setup appeared 5 other times on that same chart, and none of those other times it was successful. So that means either a) they're lying and posting charts after the fact or b) xyz setup is bullshit as it failed 5 out of 6 times, and coincidentally the trader didn't happen to take it during the 5 bad times.
 
Quote from ProfitTakgFool:

I don't recall saying that I wait out trades that are going against me. I do stop out of trades but they are manual stops, not hard stops and the part of your earlier statement that I really took issue with was the word, "aggressively." I do scale into trades and I do add to trades that are showing me a loss but I certainly don't do it aggressively. Switch that word to conservatively and we are basically in agreement. AND, I also add to trades when they are heading in my direction, not just when they are going against me. Buy the dips, size up on the eventual turn. That's my gig.
More...

ebb and flow while monitoring P&L .....
 
You must log in or register to reply here.
Back
Top