Always scaling out starting at +1 is probably a losing proposition. No matter how many contracts one has 3 pre defined exit strategies equals 3 distinct strategies. Each strategy must first stand on its own to contribute to the whole. Personally I don't think one can create a winning strategy with a 1 point profit target, therefore making that strategy a burden on the whole, even if the other two are profitable.
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The Trading Zone- Every superlative and more
- Thread starter Dennis Dorsch
- Start date
Quote from Muskoka Joe:
Always scaling out starting at +1 is probably a losing proposition. No matter how many contracts one has 3 pre defined exit strategies equals 3 distinct strategies. Each strategy must first stand on its own to contribute to the whole. Personally I don't think one can create a winning strategy with a 1 point profit target, therefore making that strategy a burden on the whole, even if the other two are profitable.
Not if you have a stop of 1-1.5 points and a better than 60% strike rate which is far from impossible
At 60% accuracy with 1.5 stops your a net loser of commisions on the strategy. The more you trade the more you lose.
At 1 point stops you make 2 points gross every 10 trades or $50 net after costs. Is that what your after? If there is a truly an edge in the entry it is a poor exit strategy.
At 1 point stops you make 2 points gross every 10 trades or $50 net after costs. Is that what your after? If there is a truly an edge in the entry it is a poor exit strategy.
Quote from Muskoka Joe:
Always scaling out starting at +1 is probably a losing proposition. No matter how many contracts one has 3 pre defined exit strategies equals 3 distinct strategies. Each strategy must first stand on its own to contribute to the whole. Personally I don't think one can create a winning strategy with a 1 point profit target, therefore making that strategy a burden on the whole, even if the other two are profitable.
That makes absolutely no sense whatsoever. Of course it can be profitable and taking profits early does not take away from the strategy. If you were risking 10 points to make one then that would be another story, but to have a good entry with three contracts and taking out 1 of them at 1 point cannot possibly "burden" the other two.
<i>"dont bother defending or explaining any further . the majority of these guys are losers . if they cant pay attn to what you are saying they probably are unable to pay attn to what the mkt is saying when they trade.greg runs an open room . its real easy to find. btw ....took your advice and followed secs premkt trades early a:m . not too shabby so far."</i>
<b>geri</b>, I asked that specific question for a reason. I trade the ES for a living. If someone does +150pts straight up on a day when I do +50, the info on that is worth $2,000 to me. Two grand is chump change to a serious trader... I'd pay that without hesitation if just one tiny little part of your info can boost my performance even 10% above what it is now.
That is no different than me interested in paying to learn what MBA does, Chauncey1 does or any other proven ES trader. Bottom line, I trade for a living. Ego does not get in the way of my bank account.
A guy came on here and said someone in your room does 93pts and 150pts ES intraday. Is that accurate or not? If so, I'm interested in the material. If it's as I outlined, your info is not of interest to me personally, albeit of value to others.
<b>geri</b>, I asked that specific question for a reason. I trade the ES for a living. If someone does +150pts straight up on a day when I do +50, the info on that is worth $2,000 to me. Two grand is chump change to a serious trader... I'd pay that without hesitation if just one tiny little part of your info can boost my performance even 10% above what it is now.
That is no different than me interested in paying to learn what MBA does, Chauncey1 does or any other proven ES trader. Bottom line, I trade for a living. Ego does not get in the way of my bank account.
A guy came on here and said someone in your room does 93pts and 150pts ES intraday. Is that accurate or not? If so, I'm interested in the material. If it's as I outlined, your info is not of interest to me personally, albeit of value to others.
like i said,if you have such a strong interest its an easy room to find. seems like you guys are more interested in a pissing contest .
<i>"like i said,if you have such a strong interest its an easy room to find. seems like you guys are more interested in a pissing contest"</i>
I don't have time to visit another room to answer one single question... I merely asked a simple accounting question for my own personal interest.
The answer to that can be "yes" or "no"... much less effort than I expended in constructing the question to begin with.
On a personal note, I know more than a little about running educational services. A little bit of patience and common courtesy goes a long way in building client relations. I did not ask to disclose any proprietary info whatsoever. I merely asked about simple trade tally accounting practices. Capiche`?
No need to explain further on either of our sides. Whatever smattering of interest I had is now dead.
Best Wishes
I don't have time to visit another room to answer one single question... I merely asked a simple accounting question for my own personal interest.
The answer to that can be "yes" or "no"... much less effort than I expended in constructing the question to begin with.
On a personal note, I know more than a little about running educational services. A little bit of patience and common courtesy goes a long way in building client relations. I did not ask to disclose any proprietary info whatsoever. I merely asked about simple trade tally accounting practices. Capiche`?
No need to explain further on either of our sides. Whatever smattering of interest I had is now dead.
Best Wishes
Holy Grail says:
"That makes absolutely no sense whatsoever. Of course it can be profitable and taking profits early does not take away from the strategy. If you were risking 10 points to make one then that would be another story, but to have a good entry with three contracts and taking out 1 of them at 1 point cannot possibly "burden" the other two"
============
Do the math
10 trades
win 6 x 1 = 6 points
lose 4 X 1.5 = 6 points
= more you trade more you lose.
10 trades
win 6 X 1 = 6 points
lose 4 X 1 = 4 points
So make $100 on 10 trades or $50 net. That is $5 per trade. If that is your edge well good luck to you.
"That makes absolutely no sense whatsoever. Of course it can be profitable and taking profits early does not take away from the strategy. If you were risking 10 points to make one then that would be another story, but to have a good entry with three contracts and taking out 1 of them at 1 point cannot possibly "burden" the other two"
============
Do the math
10 trades
win 6 x 1 = 6 points
lose 4 X 1.5 = 6 points
= more you trade more you lose.
10 trades
win 6 X 1 = 6 points
lose 4 X 1 = 4 points
So make $100 on 10 trades or $50 net. That is $5 per trade. If that is your edge well good luck to you.