10.46 profit for 0.25 point.
14.54 loss for 0.25 point.
61 winners for 39 losers just to break even.
Still an expensive business,
Even if you sure can grow rich.
EDIT: Overnight just blew away your business plan.
What's the most high probability combination of indicators you've ever witnessed?
- Thread starter farmerjohn1324
- Start date
10.46 profit for 0.25 point.
14.54 loss for 0.25 point.
61 winners for 39 losers just to break even.
Still an expensive business,
Even if you sure can grow rich.
EDIT: Overnight just blew away your business plan.
So there's no point in playing without an edge.
And those numbers change significantly if you make it 0.5 or 0.75.
Plus the numbers change significantly when you consider you don't have to win on the first price move. It can move against you for an hour as long as it eventually goes back your way. And as long as it doesn't move so far that you get margin called or risk losing your life savings, etc.
No way …
If you scalp your profits,
You better scalp your losses as well.
Otherwise you’re just wasting time and money.
I see some tiny gains then a huge loss,
Probably a margin call.
I can sense it.
You can sell naked option premiums.
Same shit but more fun IMO
YM is mini Dow. If you are a beginning trader do not go down the dead end of indicators. People on here are discussing and arguing about the same things and methods their ancestors were tying to make work in the 80's. Use your eyes and brain to figure out what is happening in real time. There are no short cuts. Just like any other high paid job: you have to put in more work than you thought possible. Markets are scary for a beginner. A lot of new traders just want to make money without getting hurt. Indicators put a psychological barrier between the trader and the scary market. When you lose it was the indicators fault. I could go on and on, but I won't.
That's why I'm thinking I can backtest an algo and keep changing the variables for different entry and exit criteria, then stick to that script religiously.
I would trust a computer over my own emotions.
The only human input would be me knowing which way the winds are blowing that day and not going against it. And also avoiding trading around majors news releases.
I lost money from September 2019 until August 2022, when I finally changed strategy and started trading ES only. I just follow the overall mood of the market and try to ride the waves of major news releases. I'm trying to fine tune that strategy that's been working since August of this year.
Sounds good, FJ. Can you backtest RSI Divergence Failure Swing?
Be more detailed