The Perfect Edge

sigh...he is right you know...I just am too conservative. I will work on this, but I do not know where and when I will arrive.

All I know is I am getting tired...

Michael B.

P.S. There is no way this system can make 700% however. I have tweaked it and made it my own and I should know.
 
So perhaps I should step up to making 5% on the balance from the beginning of each month instead of from the beginning of the year..

Liquidity is really not an issue in Forex. I have traded a one million dollar account before...


Michael B.
 
Wifey bagged 1% last night after I taught her how to watch the scalping system...

mschey will be disappointed, but when she woke me up and told me, we turned off the computers and took the night off! She is the true genius here, not me.

Michael B.
 
Quote from ElectricSavant:

Wifey bagged 1% last night after I taught her how to watch the scalping system...

mschey will be disappointed, but when she woke me up and told me, we turned off the computers and took the night off!

Michael B.
More...

Yeah, well... we can't all make 700% per year trading prop. :p
 
700% ......suckers....I get as hight as 35:1 leverage in my retail operation....if they would let me have more I would bump up the action in the beginning scales!

I know better riskarb....you do not use excessive leverage, so don't even go there...

:)

Michael B.



Quote from riskarb:

Yeah, well... we can't all make 700% per year trading prop. :p
More...
 
For those of you following along here is where I update my trades...I managed to get nearly 7k on a 100k this month with 190 trades. My profit factor sucks and I want to improve that. Winrate at 62%

bookmark the link if you desire...

I will tell you that if you are to scalp, knowing when to take a loss is extremely important. When a trade is not going right, you simply need to exercise discretion and get out. I believe a good manual scalper can outperform automation.


http://www.electricsavant.com/Cash and Carry (Spreader).xls
 
Quote from ElectricSavant:

For those of you following along here is where I update my trades...I managed to get nearly 7k on a 100k this month with 190 trades. My profit factor sucks and I want to improve that. Winrate at 62%

bookmark the link if you desire...

I will tell you that if you are to scalp, knowing when to take a loss is extremely important. When a trade is not going right, you simply need to exercise discretion and get out. I believe a good manual scalper can outperform automation.


http://www.electricsavant.com/Cash and Carry (Spreader).xls
More...
Enter only with what ya called "High Probability Signals".
http://www.elitetrader.com/vb/showthread.php?s=&threadid=64289&perpage=6&pagenumber=1
:D

PS: bookmark the link if you desire...
 
Quote from ElectricSavant:
I will tell you that if you are to scalp, knowing when to take a loss is extremely important. When a trade is not going right, you simply need to exercise discretion and get out. I believe a good manual scalper can outperform automation.
More...

Remember, price is like a train that wants to travel to it’s destination with as few passengers on it as possible, especially the longer trips. It's when there are a lot of passengers on the train that it travels slow bumpy rides at close distances.
Not only get out but reverse and hang on, because often the high profit trades occur when you (and everyone else for that matter gets out). For example, look for the significant entry signal in the price sequence and if there is no follow through (and the other time frames start to give evidence that it will not follow through) – wait for a reversal signal (sometimes not a very clear cut signal), enter, and hang on as it may try to shake you out again. In these cases you should be able to reverse with break even or very minimal loss on original trade (if you don't hesitate too long), but the profit on the follow through will be worth it. .
Quote from ElectricSavant:

I managed to get nearly 7k on a 100k this month with 190 trades. My profit factor sucks and I want to improve that. Winrate at 62%
More...
Amount of trades per month sounds about right and I'm assuming that 38% includes a number of breakeven trades as well. Profit rate - ES you HAVE to let your profits run even as an intraday scalper otherwise you are sabotaging your own systems potential. Entries are the easier part.

Learn about elliot waves (not so much for entries but for exits) and set your profit targets as a fib. extension of high/low wave 1/2 (in other words visually question what a valid wave 2 is - as sometimes it retraces too early and people incorrectly estimate wave 2's and get shaken out early). Hang on till a major fib extension zone is showing resistance (ie 1.61), Use either second charts to see what is happenning here- or price action on your mid level timeframe chart (or both). Exit and either go for a retracement trade, do nothing or get in on a pullback exiting at the next fib level. In strong trends fib. extension of wave 3/4 peaks. Don't get shaken out early. Just my 2 pips.
 
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