Trading Winning Positions - The optimal approach

1a2b3cppp said:
Ironfist determined similar conclusions in this thread, legitimately that you have to take every opening to make money in a trend following system. Additionally, that's the only thread I've ever seen someone give a complete definition of a trend and how to identify it in real time. I ponder if you could use your entries and his guidelines to make an entire system.
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Thanks, its an interesting post and I'm going to have to go over it again more thoroughly.
 
volpri said:
Both Risk and PT management. As to how many bars I would hold before taking profits, it is, never (at least for me) set in stone (although I will set an estimated initial PT) but the actual PT and even the SL are both subject to the dynamics of the market in the context in which I place the trade. In other words, I do not say I gotta have a 2:1 reward to risk or 4:1. If market dynamics after entering the tells me i can probally go for. 6:1 I’ll wait for more bars and more profits. If, on the other hand, my initial target may be 3:1 but after entry the subsequent dynamics tell me I will be doing good to get 1:1 then I do not like to hesitate but will grab what the market gives me , regardless of my initial PT.

My PT and my SL have initial settings but are ALWAYS SUBJECT TO subsequent price action as it unfolds. Thus I trade with what I call dynamic SL’s and dynamic PT’s and they are based upon PA context over the last several bars, volatility, and subject to adjustment depending on the more immediate context of the present bar and last 2 or 3 bars.

That is just the way I trade. I see the markets as very fluid and dynamic. I try to capitalize on the fluidity and the dynamics as they unfold. The market is full of uncertainty, and always will be, but that is part of the challenge. I am a strict daytrader so I am always flat by the close so I get my report card every day that I trade, by the close, at the latest.
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Can you post an example? I seem to remember attempting something like this a while ago and it wasn't helpful.
 
1a2b3cppp said:
Ironfist determined similar conclusions in this thread, legitimately that you have to take every opening to make money in a trend following system. Additionally, that's the only thread I've ever seen someone give a complete definition of a trend and how to identify it in real time. I ponder if you could use your entries and his guidelines to make an entire system.
More...

When you see a thread in which nodoji and dxphoenix both apprise they trade this way,run for the hills.You won't find bigger misconception than when these two agreed to something.
 
IronFist said:
Can you post an example? I seem to remember attempting something like this a while ago and it wasn't helpful.
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It is difficult to post market dynamics in a static post. Dynamics for me are watching price as it unfolds before and after I take a position, all within a context established by past recent price action. How do I illustrate that? I am not sure. I am an intraday trader that focuses on general context and every SINGLE bar dynamics as they are unfolding to make adjustments on the fly in terms of SL or PT. For instance, two bars in the ES that have a 2 or 3 point range. One forms slowly and closes in its lower half. The other makes it range rapidly with lots of back and forth price movement and closes on it’s high. As each one is forming the price dynamics are grinding in the first. The second one is formed with urgency and lots of price movement. I assess these two different dynamics with the context in which they are taking place and am constantly deciding if i should adjust my initial PT and increase it or decrease it and grab what the market gives me at the moment. If it isn’t clear to me i will generally opt to grab what the market gives (a bird in the hand is worth two in the bush) and if after my exit it appears I should have waited before exiting I will simply enter again. By grabbing my profits I avoid giving back a paper profit should the market prove my initial PT is not going to be reached. To me commissions are a small price to pay to grab a profit. Besides one is supporting the brokerage industry. They gotta make a living too...ROFL

In a grinding uptrend (i.e. over several bars) what one can call a small pullback trend I will have multiple entries and exits. Instead of taking one entry and holding it. For instance, in a bull SPT I will exit at peaks and enter again at cheaper prices on PB’s. The SPT is the general context. On the pb’s I pay close attention to each bars dynamics to enter again. Likewise, on the peaks or swing highs for exiting.
 
Van_der_Voort_4 said:
When you see a thread in which nodoji and dxphoenix both apprise they trade this way,run for the hills.You won't find bigger misconception than when these two agreed to something.
More...
Not too knowledgeable about nodoji but dbphoenix is a charlatan. Ironfist is intelligent, though - if he says something I'd probably believe it. He is almost as critical of everyone as me, and that's a complete method in his thread with no guesswork or any other silliness that gurus here post.
 
volpri said:
It is difficult to post market dynamics in a static post. Dynamics for me are watching price as it unfolds before and after I take a position, all within a context established by past recent price action. How do I illustrate that? I am not sure. I am an intraday trader that focuses on general context and every SINGLE bar dynamics as they are unfolding to make adjustments on the fly in terms of SL or PT. For instance, two bars in the ES that have a 2 or 3 point range. One forms slowly and closes in its lower half. The other makes it range rapidly with lots of back and forth price movement and closes on it’s high. As each one is forming the price dynamics are grinding in the first. The second one is formed with urgency and lots of price movement. I assess these two different dynamics with the context in which they are taking place and am constantly deciding if i should adjust my initial PT and increase it or decrease it and grab what the market gives me at the moment. If it isn’t clear to me i will generally opt to grab what the market gives (a bird in the hand is worth two in the bush) and if after my exit it appears I should have waited before exiting I will simply enter again. By grabbing my profits I avoid giving back a paper profit should the market prove my initial PT is not going to be reached. To me commissions are a small price to pay to grab a profit. Besides one is supporting the brokerage industry. They gotta make a living too...ROFL

In a grinding uptrend (i.e. over several bars) what one can call a small pullback trend I will have multiple entries and exits. Instead of taking one entry and holding it. For instance, in a bull SPT I will exit at peaks and enter again at cheaper prices on PB’s. The SPT is the general context. On the pb’s I pay close attention to each bars dynamics to enter again. Likewise, on the peaks or swing highs for exiting.
More...
Can you post a chart?
 
This thread with turn into a battle of those who believe that they can predict price action and those who believe it is impossible.

Even those who feel as though they can read the market can have an exit signal countered by the following candlestick.

So maybe trend followers should work on reading the market and price action readers should work on adding to a profitable position?

Thanks to contributers in this thread as it has given me something to think about.
 
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