The technique is amazing. I asked him once to post losing days, and he replied, "I don't have any". Wish I knew how he did it without blowing through margin requirements.
Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM
- Thread starter volpri
- Start date
The technique is amazing. I asked him once to post losing days, and he replied, "I don't have any". Wish I knew how he did it without blowing through margin requirements.
Right, I like his approach and this thread is interesting. I'm not (nor are you) trying to discredit him or anything like that, it's just every strategy has weaknesses and it's important to understand where they lie. With averaging down, there must be a cut off point unless you initiate trades with such a small relative size that you can pretty much martingale it all the way back to break even - hence no loosing trades.
No in MOST cases I would not keep adding in that scenario (there are a few exceptions). Once I am doubled or triple in I will hold till max loss for the day and just get out if I am wrong again and probably just stop for the day. Why? My judgement is off and probably won’t get better as the day goes by.
However, that is why I won’t just dump an averaged down losing position too quickly. I want to see that the market proves my premise wrong or that my premise has now changed (like in a successful BO) because of PA but I want the market to show me that the tactic of trading a range is now changed into a BO. So, I will trade my newly double in or tripled in position using BO tactics.
Not sure what you are referring to. Of course I have losses. I just nip them in the bud quickly and reverse if the circumstances are conducive to reversing with a doubled up position. This said, I do have a high win rate. Mostly above 80% and not so often in the 90% range. And of course some days 100% win rate. Today I basically took two trades. O e straight short...winner. One averaged in 4 times short. Winner too. No other trades taken today so good win rate for today.
I asked you once to post an example of a losing day. You replied that "you haven't had any yet". I do not mean losses, I mean losing days. Days where you were net negative in funds. In cash. In moolah. Obviously there are losing contracts on an averaged-position, which are losses.
Have you ever had a losing day? If so, can you post a chart with your arrows?
I don’t remember saying that?? Of course I have losing days? Just not that many. I will do so ....post a losing day when I have one. I don’t trade everyday but I will post a losing day so you can see. I have losing trades and I have losing days. The former more often than the latter.
As far as losing contracts on “averaged in situation” today I think I basically broke even on my averaged in trade on my initial entry then made money on the other 4 averaged entries in that “second averaged in “ trade of today. Sometimes I lose on two entries and make money on the rest in an averaged in trade. Sometimes I make money on All the entries.
As far as losing contracts on “averaged in situation” today I think I basically broke even on my averaged in trade on my initial entry then made money on the other 4 averaged entries in that “second averaged in “ trade of today. Sometimes I lose on two entries and make money on the rest in an averaged in trade. Sometimes I make money on All the entries.
Last edited:
Your hindsight is so acute. How do you do it?!?
So with the chart information you have RIGHT NOW, what are you going to do RIGHT NOW?
He shorted during US session.
This time he is lucky.
actually this is not a very good trade not a good hindsight.
The downtrend started much earlier during European session.
dax & oil were also down during that timeframe.
He failed to catch that signal.
Come that US session, you were left with bones and crumbs.
If traders continue to miss signal and make such 'mistake' , soon they have to top up their trading account.
many professional traders would have avoided trading that purple region.
anyway that's his decision.
Last edited:
ROFLMAO I was not even watching the market until those 5 bull bars had been made right after RTH's open. I was snoozing...in bed..tired from my travels out of the country. So, I didn't miss any signals. I wasn't trading. I wasn't looking for any signals.
I trade the day session not the overnight but I do look at the overnight right after I start looking at the day session. To see the larger context for my decisions in the day session.
As far as professionals or anyone else avoiding the purple box section. Well if they do they miss out on 70% of the market action as market trades sideways about 70% of the time. 10% we get strong BO's. FYI... I trade all. BO's ...channels ..sideways..etc. I have techniques for trading each market phase. But I only traded a little bit this morning and stopped.
I will tell you this institutions were trading that section. The markets simply do not move unless institutions are moving it. That whole sideways move which was most all day long ...were institutions... bears and bulls battling it out and neither side was winning very much. BTY that is precisely what causes the ranges to form. Sooner or later one side wins and we get a BO.
As to your opinion as to whether it is good trading or not, or good hindsight or not, does not mean anything to me. It is what it is and I traded it as such.
Remember, I am showing how I trade. Whether you guys like the way I trade or not ...well that is your prerogative. I expect some won't like what I do. Others will. That is the nature of the beast.
Last edited: