YM Traders

porgie,

You are a big advocate of getting out of trades at BE, rather than getting stopped out and losing money.

On a trade when would be the time to move the stop to BE? When the trade goes in favor of 1x, 2x, 3x risk?
 
I like minimum 2x...........but then I am an intraday trader only.......when YM moves me to 10 points seen on screen I move everything to breakeven .......usually 3 contracts traded..........#1 exit with 1 contract and go to breakeven all contracts when 10 is seen on screen........#2 exit when 15 seen on screen......remaining contract/s discretionary with always breakeven on all @ 10 pts..........my system is so highly accurate that I very seldom suffer losses........earned by enormous hard work and time.....5 years ...........Have a wonderful and Happy New Year...........
 
rip...........also, most stops are 5 to 7 points...........you can lose more trading 5 min charts and shorter although they can help you..........I prefer the 15 min chart with 5 for early look........but 15 must show me the pictures........mhase's trade was great, but overnight I don't like...I was thinking when 30 was there for him, I hope he bails or exits with 1/2 contracts and moves to breakeven........or move remaining 3 stops to no risk..that is what hurt volente at first and the mega rich boss i had 5 years ago who introduced me to this stuff.......would not move stop....especially to breakeven........ ........I prefer to be in tighter control of trades.........I don't need the stress.......a good system takes a lot of stress off...........get down to a good system and a market that suits you and intensify the studies..........later expand your trading to whatever..........at first intensify...........robust system that I have looks the same on weekly on down.......that is what took the 5 years and 10,000 hours.........
 
Quote from satchel:

dis down, ES 1240s, NQ < 1651, DJIA 600s!

now paypal me lol :D
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Based on analysis I did couple of days ago, we're near the next Trading Range support levels. The tape is still very weak, shorts broke down the few bulls that were holding the tape up. imo after new years we should see a stronger tape on the bull side.

My charts are still down, will have to verify once I get them up.

Edit: fyi as a point of future reference, YM @ 10750 when I made above reference.
 
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