Yes please flood my thread with charts, I really would appreciate it. I read your post a few times, still trying to make sense out of the chart you posted. @Handle123
TRADE ONE: LONG/ PROFIT/ BLD/60/15H30 So on the 60 I see the stochs crossover to signal Bull Divergence. 15h31 I set my limit order to 22.75, TARGET= 24.75, INITIAL STOP = 21 EXECUTION As soon as I was filled at 22.75, price surged and I quickly moved my target order on the DOM to 24.25 (didnt have enough time to calculate my target) . (My OCO configuration on the DOM is preset to Target = 1 point above entry and Initial Stop= 2 points below (Long), I do of course move them after calculations. ) IN TRADE PERFORMANCE Well I was filled at 24.25 on the next candle, but as I already mentioned in a previous post, I do not recognize a fill until price travels through it. Therefore I "held" my trade to anticipate the 24.75 target. I then calculated the my target at 24.75 (Yes I know most would think this is a foolish target) After I saw the green candle at 15h33, I moved up my initial stop from 21 → 21.75 (Using the DOM). EXIT Despite the fact price dropping to 22.5 at 15h51→ I considered closing my position and expecting to get stopped out→ BUT THAT IS AGAINST MY RULES , MY RULES STATE TO WAIT UNTIL YOU EITHER GET STOPPED OUT OR HIT THE TARGET! So I proceeded to wait until either one of these outcomes occurs→ Price eventually broke the 24.75 level at 15h57 (entries and exits marked with a pink ellipse) . Nice to end the week on a profitable trade. I will post up my weekly metrics later. WHAT I LEARNT Follow the rules of the model no matter what > Dont be afraid to be stopped out! Expect price to move rapidly as soon as you are filled, so be prepared to move Target/Stop orders I wonder how this would of played out in a real live "money" trade? @Handle123 @Redneck @NoDoji @Buy1Sell2 @aquarian1 @Gueco @pak @slugar @zbestoch
Weekly Summary Profitable Trades 3 Losing Trades 2 Win Ratio for week 3/5= 60% Cumulative Win Ratio 3/5= 60% Total Points for the Week 2.75
I see sometimes being rigid at far as targets you can lose it all trying to get one tick when chart showing huge resistance and head & shoulders, you don't want to get into "hope" mode. Ideas are on enclosed chart. Congrats on your first week, stay the course and keep emotions in check.
Hi @Handle123 , I'm not sure how much you are paying for commissions, but futures commissions are nearly half as much as stocks commissions for me, that is one of the reasons I trade futures as opposed to stocks (as mentioned before). If I could get cheap commissions for futures then yes I would be adopting a scalping strategy, another reason why I am a bit "longer" term than scalping.
@Handle123 On the 1 minute charts you marked up, I noticed you were analyzing the stochastic divergence. Do you respect stochastic divergence signals on the 1 minute timeframe? I am of the opinion, that they tend to only be more reliable in the larger timeframes, therefore my model only recognizes divergences on 30 & 60min. Just curious, IWDI.
I lease seats, so I am not paying retail. I also have employees that trade my funds, so I can do well making one tick, but you should be able to do well getting one tick too. I was trading over 100 lots before I went into leasing a seat. More you average a month, deeper the comm go.