Well, I just hit my target of 4796 a few moments ago.
Guess it pays to follow your plan.
I'll be honest though - this system has (despite wins like the above) very low expectancy at the moment. I'm convinced I'm not far off though.
Tech, I trade with IG Markets. Guess their prices are slightly different to the underlying market?
Bin
Thanks for clarifying SKC. Yes, I like the $1 micro contract because as one's confidence increases, so you can increase your position size. The spread is only 1 point until session draws near to close around 4.15 Sydney time. It then increases to 2, and then 4/5.
Follow the holly grail of intraday trading. (and business in general)
Correctly/accurately estimating likely range and chop vs trend. (in business Boom vs tough times)
Without this skill discretionary intraday trading is doomed. If you want to do this stuff and survive the first 1000 cuts, before trades are placed and continually during the day, you have to assess FIRST if we are likely to just chop around (then you beg for coins) or the big boys have some business to do and there is large range and trends likely (then pull out the suit and pimp your big ideas). It doesn't matter how fancy your chart looks right now or how profitable you were trading the dailys the skill is fast assessment of future movement till the close.
From that comes how you play R:R. No point aiming for 1:2 in low vol chop as the market will not even reach R1/S1. Then again you will bleed to death taking 10 tics profits on a day the SPI runs 80 ticks and should be paying for 6 months of mortgage payments.
Follow the holly grail of intraday trading. (and business in general)
Correctly/accurately estimating likely range and chop vs trend. (in business Boom vs tough times)
Without this skill discretionary intraday trading is doomed. If you want to do this stuff and survive the first 1000 cuts, before trades are placed and continually during the day, you have to assess FIRST if we are likely to just chop around (then you beg for coins) or the big boys have some business to do and there is large range and trends likely (then pull out the suit and pimp your big ideas). It doesn't matter how fancy your chart looks right now or how profitable you were trading the dailys the skill is fast assessment of future movement till the close.
From that comes how you play R:R. No point aiming for 1:2 in low vol chop as the market will not even reach R1/S1. Then again you will bleed to death taking 10 tics profits on a day the SPI runs 80 ticks and should be paying for 6 months of mortgage payments.
Do you have a favourite or do you use different calculations and plot all?
Correctly/accurately estimating likely range and chop vs trend.
Do you have a singular method of calculating/estimating the above or do you use multiple methods.
EG
Frank Dilernia's
Similar methods but not exactly the same as Frank's
Best quote so far this year (and l reckon the rest of the year too) Trembling Hand. The markets change minute by minute. Spot on!!!!Daily traders mostly hunt trends/breakouts/bigger moves etc, I think you would agree?They turn up and trade when it suits their style of application or scan for setups that suit. As a generalisation.
When you're trading indexes intraday the market from day to day and hour to hour changes dramatically. Therefore so to should your tactics need to change. One hour/day/week your a scalper the next hour/day/week your a big dick intraday position trader holding till the close. Recognising the constant change IMO is the skill needed for a fulltime short term trader.
Best quote so far this year (and l reckon the rest of the year too) Trembling Hand. The markets change minute by minute. Spot on!!!!
So why is it then that we Dont have more successful women Futures traders?
perhaps its just a case of getting in touch with our feminine side.
Ok
What is it that you see as a change of sentiment during a session.
Volume--Range--- Both----Breakout/tightening/speed (time)
All these things and more or just pure weight of or lack of weight in numbers as you "feel" the mood of buyers and sellers change (Both at the same time normally)
Tech explain how you walk to me.
I see inspite of a new year the same little pea brain children haven't grow a year older yet
I get it .
But I can explain "how" I walk to you or anyone else.
It is a learnt implicit skill requiring practise
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