Why Is The Obvious Not So Obvious?

[Laissez Faire]

yes..but tight stops can easily ruin a trade with the ES..i know too well..which is why i don't use them.. however..as you said..

time will tell

True. You never use stops?

A focus in this thread have been low risk entries and taking small losses, so it's a bit odd that you don't use stops.

Of course, there's many ways to trade, but that's not the impression I had from the trading style espoused in this thread.

Personally, my trading improved greatly after I allowed for more inexactitude and used wider stops. Not wide for the sake of it, but wide enough that I'm not stopped out on meaningless countermoves.

Right now, my conviction to the long side isn't strong enough that I'm interested in taking on a large stop anyway.

I'm taking a tick here. Might be stopped out on noise, but when the conviction isn't that strong, why bother.

 

[Builder17]

the target up is 4400..now at around 4345..that is..

55 x 30 x 5 = 8250

which would bring me slightly over $10k drawdown..will i add to positions if that happens..i might..but i don't want it to happen..i would prefer the second target of 4360..which is only 15 pts away..and as i will probably be asleep..or walking the dogs..or gardening when it happens..i don't know if i will add..i will just wait and see

If you’re willing to accept a 10k drawdown on an account (presumes a larger account), why even trade the micro MES instead of ES? You expect to average in (at worse than initial trade prices), which assumes your initial trade may be wrong/ early (calling a top etc), so why even take the initial trade? Or why not use ES?

 

[M4-1]

If you’re willing to accept a 10k drawdown on an account (presumes a larger account), why even trade the micro MES instead of ES? You expect to average in (at worse than initial trade prices), which assumes your initial trade may be wrong/ early (calling a top etc), so why even take the initial trade? Or why not use ES?

the mes allows you more flexibility..i can close some if i want..but the main thing is that it is easier on your mind..and making money trading is all about your mind !

 

[M4-1]

the weighing scales is not looking good for up..unless something happens to give it a sudden push

 

[M4-1]

time to watch it closely !

 

[M4-1]

make or break time !!

 

[M4-1]

i hope LF locked in some profit !

 

[M4-1]

second chance !!

 

[M4-1]

True. You never use stops?

A focus in this thread have been low risk entries and taking small losses, so it's a bit odd that you don't use stops.

Of course, there's many ways to trade, but that's not the impression I had from the trading style espoused in this thread.

Personally, my trading improved greatly after I allowed for more inexactitude and used wider stops. Not wide for the sake of it, but wide enough that I'm not stopped out on meaningless countermoves.

Right now, my conviction to the long side isn't strong enough that I'm interested in taking on a large stop anyway.

I'm taking a tick here. Might be stopped out on noise, but when the conviction isn't that strong, why bother.

View attachment 262570

you lucky bastard

 

[Laissez Faire]

i hope LF locked in some profit !

I locked in a tick after that last push higher. No need to marry a trade.

you lucky bastard

Well, it's my birthday today. So, I was hoping I was lucky enough to get 4350 before I left the building.

But 1 tick profit is better than a loss.