what is your result so far for 2018?

[themickey]

I don't watch any bars. I don't trade based on chart action. I trade based only on what today's open is in relation to recent prices. I set a stop, and exit at the close. While I like charts (an old habit), they aren't required for me to trade, and are often even detrimental. Charts, IMHO, are a result of our need to impose a visual order on random data. But it is the data itself, not the chart, that makes or breaks a trader.

What factor determines what you trade?

 

[HeSaidSheSaid]

I was up about 12%, then I was greedy, didn't take money and run. I held on to a position and got burnt. I'm now at about +7% (versus SPX at ~+9%).

 

[PistolPete]

 

[digitalnomad]

View attachment 192346

Impressive. I can only assume you're taking overnight risk. If you're doing this intraday from a retail account, you're a gifted savant

 

[digitalnomad]

Very Very Interesting!! You have gone where probably no ET person has ever gone before and that is sharing pretty precisely how you trade successfully. And you have done it in a way that does not compromise your own specific entries but still provides a method that others could experiment with and adapt to make it their own style. This emulates that illusive objective of ET of traders helping other traders. You have won my respect. Thank you for sharing this.

Actually, what lindq does is not uncommon. When you trade US markets intraday, the open is THE reference point. Yesterday means nothing. Many savvy players have devised proprietary formulas around it, without the need for charts.

 

[Illini Trader]

Actually, what lindq does is not uncommon. When you trade US markets intraday, the open is THE reference point. Yesterday means nothing. Many savvy players have devised proprietary formulas around it, without the need for charts.

You are right, I know of one trader who teaches in John Carter's trading room who uses the open, high, and low of the first 60 minutes as his "reference points" and has a ton of historical data on what happens when those are penetrated, etc. It is kinda of foreign to my thinking but that may be why you guys are a lot better traders than I am.

 

[lindq]

birdman: I don't set profit targets, only stops. My exits are all end-of-day.

 

[lindq]

What factor determines what you trade?

Volatility. I don't want to make a bet on something that isn't likely to move. Better to be in cash.

 

[digitalnomad]

birdman: I don't set profit targets, only stops. My exits are all end-of-day.

Are you trailing those stops? There might come a day where you're on the right side of a black swan, and make a small fortune riding the wave

Volatility. I don't want to make a bet on something that isn't likely to move. Better to be in cash.

And liquidity I hope

 

[lindq]

Are you trailing those stops?

Not trailing, but if I reach a certain % of profit on a trade, I will often raise a stop to even. Beyond that, I don't let myself touch it.