another long
10 points from the pivot
to answer the question about exit target
this method requires at least 2 positions be entered
1 position is taken off at 50% or 5 points
stop must be moved on the remainder
then it becomes a question of reversing at full 10 points or just closing out
10 points from the pivot
to answer the question about exit target
this method requires at least 2 positions be entered
1 position is taken off at 50% or 5 points
stop must be moved on the remainder
then it becomes a question of reversing at full 10 points or just closing out
Attachments
another question that comes up is..... how do you deal with opening gaps ?
if the gap is smaller than 3 points, you can take a risk and ignore the gap
however if the gap is 5 points or more, you are better off taking the gap out
if the gap is more than 5 points, you can play it more safely by forgetting the previous session and starting your distance count the same day
on exhaustion moves, there can be a gap and it will move 10 more points in the direction opposite the gap
what about stops ? what kind of stop should you use ?
if the gap is smaller than 3 points, you can take a risk and ignore the gap
however if the gap is 5 points or more, you are better off taking the gap out
if the gap is more than 5 points, you can play it more safely by forgetting the previous session and starting your distance count the same day
on exhaustion moves, there can be a gap and it will move 10 more points in the direction opposite the gap
what about stops ? what kind of stop should you use ?
you need at least a 3 point stop ... .however if you can get good at this system, you can feel more comfortable with using larger stops
some people use a scale in method which involves entering a single position at each 10 ... with no stops however that is another system all together
the 50% target is so important. you have to try to take a profit on every single trade.
and the way to do this is to take a profit at the 50%
price almost never breaks out on swing frame .... on an intraday basis during trading hours
most all break outs happen during globex session
what does that tell you ? it tells you that you need to take profit on every trade where you get a 50% move from your entry
what if you don't get an ideal entry ? what if price goes 12 points instead of 10 and you have incorporated 2 extra points of heat into your target ?
you stick to 5 points from the turn, not from your entry. why ? because you must take profit on every single trade where it is possible to take a profit.
some people use a scale in method which involves entering a single position at each 10 ... with no stops however that is another system all together
the 50% target is so important. you have to try to take a profit on every single trade.
and the way to do this is to take a profit at the 50%
price almost never breaks out on swing frame .... on an intraday basis during trading hours
most all break outs happen during globex session
what does that tell you ? it tells you that you need to take profit on every trade where you get a 50% move from your entry
what if you don't get an ideal entry ? what if price goes 12 points instead of 10 and you have incorporated 2 extra points of heat into your target ?
you stick to 5 points from the turn, not from your entry. why ? because you must take profit on every single trade where it is possible to take a profit.
why does the rule of wen work ?
because you are a jackass trying to trade against algorithms being executed by robots
a jackass is a retail discretionary trader who thinks he/she can trade better then the best minds and computers systems in the world
don't be a jackass.... trade with at least 100k in your account and be ok with losing 100k
because you are a jackass trying to trade against algorithms being executed by robots
a jackass is a retail discretionary trader who thinks he/she can trade better then the best minds and computers systems in the world
don't be a jackass.... trade with at least 100k in your account and be ok with losing 100k
Joules MM1
Established member
say, youre looking pretty good there......how about you put up the contracts printed at the time you open and close those trades and show us an equity curve, then, maybe, you'll get the viewers involved......even if this is a sim thing you'll still get the kudos....
anyone posting about trading on an internet forum is a complete tool
why would you want to get kudos or viewers ? answer is you wouldn't.
if you have been around at all, you would know that no one on forums actually trades..... much less trades profitably.
why would you want to get kudos or viewers ? answer is you wouldn't.
if you have been around at all, you would know that no one on forums actually trades..... much less trades profitably.
Joules MM1
Established member
anyone posting about trading on an internet forum is a complete tool
why would you want to get kudos or viewers ? answer is you wouldn't.
if you have been around at all, you would know that no one on forums actually trades..... much less trades profitably.
ok, righto.....so, wot youre saying is......erm....well, never mind.....keep going
Joules MM1
Established member
youre trying to make a point, otherwise wot is the motive for posting these set-ups/trades ....wot i was inviting you to do was to simply show the whole journey of entries/exits and the effect on your equity curve......that's all
