You need a high win rate based off your stop loss. Use a bracket and start at 2 profit and 4 trailing stop loss(go back and read the explanation) and enter through a market order. (83% needed for break even) so 5/6 will yield a small profit. Sounds impossible but 100% some days, times a few contracts, for 5 hours a day. I'm handicapped and look forward to the trading. Ninety percent win rate is realistic for the long run.
BINARY RESULTS yes that is the case when you trade in an unsuitable market. Today should be good results from the momentum since we are momentum traders. I was getting 65-35 win loss for a long time. I had to find why I was losing and correct it.
I go 1 tic profit and 5 tic trailing stop loss which is a 2-4 trailing stop loss bracket using a market order only. Wait for momentum and jump on and off. I use tradovate for low priced commissions and can use my phone when I'm out. I also use a projector on the wall and sometimes the ceiling so I can lay down (spine damage). I also sit 18 inches from a 55 in TV screen. Like a hawk you wait so take breaks for a few minutes after a win or definitely after a loss.
Pin point the trade you want and wait for it. that's what the computers do. I have three trade types that I wait for and when they appear I jump on them. At this point, i can look at my screen and decide in a second what to do, with efficiency.
Still searching for the elusive "second tic". i think I will find it if it exists. Thanks for participating.
Start small and set a few hundred dollars as risk. Trade a single contract until you earn a few bucks. If you can hit 7, 8 ,9 in a row then I'd say go to 2 or more contracts. No rush, the market will be there tomorrow. If you fail and lose a few hundred it's back to the paper trading and that's the loop to get in. Once your in tho, you're in. Took me over 2 years to understand and then 6 months to break even. This will be my first year with enough to say it is my main income.
BINARY RESULTS yes that is the case when you trade in an unsuitable market. Today should be good results from the momentum since we are momentum traders. I was getting 65-35 win loss for a long time. I had to find why I was losing and correct it.
I go 1 tic profit and 5 tic trailing stop loss which is a 2-4 trailing stop loss bracket using a market order only. Wait for momentum and jump on and off. I use tradovate for low priced commissions and can use my phone when I'm out. I also use a projector on the wall and sometimes the ceiling so I can lay down (spine damage). I also sit 18 inches from a 55 in TV screen. Like a hawk you wait so take breaks for a few minutes after a win or definitely after a loss.
Pin point the trade you want and wait for it. that's what the computers do. I have three trade types that I wait for and when they appear I jump on them. At this point, i can look at my screen and decide in a second what to do, with efficiency.
Still searching for the elusive "second tic". i think I will find it if it exists. Thanks for participating.
Start small and set a few hundred dollars as risk. Trade a single contract until you earn a few bucks. If you can hit 7, 8 ,9 in a row then I'd say go to 2 or more contracts. No rush, the market will be there tomorrow. If you fail and lose a few hundred it's back to the paper trading and that's the loop to get in. Once your in tho, you're in. Took me over 2 years to understand and then 6 months to break even. This will be my first year with enough to say it is my main income.
