I trade on the reversal not WITH the momentum. I cannot always jump in at the perfect place BUT I can get out with a profit thus far which might involve "thinning".
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Winning, Losing & BetSize trading the ES
- Thread starter ElectricSavant
- Start date
I have been working on something similar to this. Are you playing the bounce off of the 200 period EMA?
Conventional wisdom on trading:
1. Trade with the momentum/trend
2. Cut losers
3. Ride winners (so they are much bigger than the losers on average).
4. Reduce bet size when losing, increase when winning.
Based on what you have written on this thread you are doing the opposite of all the above. The only positive thing i can say is that you are using a Stop Loss although i'm not quite sure where abouts.
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My trading is doing the same as yesterday. I have honed a few DOM entry techniques this AM. I am up $300.00 less commish thus far. Should I adjust my daily loss limit down since I am up so much this early is the question.
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The last cross 180/200 is the signal to indicate implied orderflow in that window.
Perhaps this is correct...thank gawd I am in Sim and daily loss limits. Remember the bulk of my trades last under 5 minutes.
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Very interesting....
I had to thin a lot this last upswing...got all my exits except one outlier...I decided to just take that off.. still am up now $400.00 for the day.
The idea here don't tie yourself up waiting for your 2 ticks as this is reversal trading. If more trades present themselves go ahead and take them and utilize their 2-tick target profits. Those subsequent trades are good and don't let your open order tie your hands. I suppose you could sim this system then enter the live trades at the subsequent thinning movements...we shall see. The thing is I get a lot of "no thinning" trade quickies for 2-ticks.
Do any of you trade on Sim alongside your live account? I had to laugh at one of Mr. Browns posts (a very wise industry trader). He posted that he learned that his re-entering at his SL places were good plays...but then he based his entries on them (opposites) which was not quite the same thing. The 10 years it took him to realize this was really depressing. But back to his original premise: HIS LIVING TRADES FAILURE WERE GOOD ENTRY POINTS BUT YOU HAD TO MAKE THE BAD TRADE FIRST TO DISCOVER THE ENTRY POINT...NOT JUST TO FADE THE SIG RIGHT OFF THE BAT.
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P.S. I sorta read Mr. Browns posts like undercover hints to help my trading.
I had to thin a lot this last upswing...got all my exits except one outlier...I decided to just take that off.. still am up now $400.00 for the day.
The idea here don't tie yourself up waiting for your 2 ticks as this is reversal trading. If more trades present themselves go ahead and take them and utilize their 2-tick target profits. Those subsequent trades are good and don't let your open order tie your hands. I suppose you could sim this system then enter the live trades at the subsequent thinning movements...we shall see. The thing is I get a lot of "no thinning" trade quickies for 2-ticks.
Do any of you trade on Sim alongside your live account? I had to laugh at one of Mr. Browns posts (a very wise industry trader). He posted that he learned that his re-entering at his SL places were good plays...but then he based his entries on them (opposites) which was not quite the same thing. The 10 years it took him to realize this was really depressing. But back to his original premise: HIS LIVING TRADES FAILURE WERE GOOD ENTRY POINTS BUT YOU HAD TO MAKE THE BAD TRADE FIRST TO DISCOVER THE ENTRY POINT...NOT JUST TO FADE THE SIG RIGHT OFF THE BAT.
es
P.S. I sorta read Mr. Browns posts like undercover hints to help my trading.
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Whats your current average loss in losers (in ticks) ?
I have not had any losses out of 1500 trades and am always able to trade my way out as my signals are always right just late at times. I dip about a max of 8 ticks (just happened) thus far. I am new and on a 6 month training sim, so I do not have a history using this system that I have written as I go. Forgive me if I am wasting your time, but I am learning a lot by posting. I hope I am not giving anything away but the rate of change and the percentage price oscillator (PPO) are a big help.
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