3:20pm CDT- Currently I'm in "take it easy and don't get into too much trouble" mode. This means I trade 1 lots much of the time. When I'm comfortable with my results for a period of time, my goal is to increase size and take advantage of the leverage futures provide. I started trading my current methodology on 3/27 and net results since then are posted below, including today which was very tough and choppy. Sat out the last hour which was an amazing free fall covering nearly the whole day's range.
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I am so impressed by the winning percentage!
ReplyDeleteGood start with your new system!
Happy Trading!
zach
Thanks Zach - keep in mind that I frequently give my losers more wiggle room than my profit target so that easily skews the win%. Heck if your profit target was 1 tick and your stop was 10 ticks, I'd bet your win% would be >90% most of time. Net$P/L is the only true measure.
ReplyDeleteMy PT is 3 to 6 ticks and SL is 12 to 16 ticks. I usually scratch whenever I can. Did you go in 89 times on one of the days?
ReplyDeleteJules, your PT and SL are similar to mine. You must be looking at April 14th - you'll note that I had 17 wins, 4 losses so I had 21 trades that day. I don't remember details but recall digging a $1000+ hole early on and climbing out out with 5 lots rest of day. Still, I overtraded but nowhere near 89 times! LOL
ReplyDelete:-) Yes, MG, I noticed the similarity. I used to be able to dig myself out of holes but along the way I lost it completely. Guess I lost my way. Shouldn't have doubted the way I chose to trade. It suits my personality afterall.
ReplyDeleteHave you checked out Al Brooks? You'll find his method very interesting and useful for scalping :-)
Your position size depends on how much you're willing to part with just to see if market will move your way. And if that day happens to be your day (familiar setups, you're in a perfect state etc), putting on your full position when you've been proven right is the correct way to trade PROFITABLY. You must have been right when you put on your 5 lots, else you wouldn't have managed to climb out of your hole :-)
Why am I telling you this when you've made your 100k and I haven't? LOL!
Anyway, just want to say I'm really glad to see someone going for ticks and is consistently profitable. :-)
Jules, thanks for Al Brooks tip - I'll check it out on Amazon. Hope you find your way back if you still feel you've lost your way. Digging holes is part of this business and they have all different time horizons. I'm still far from climbing out of the hole I dug in late 2007 but I'll get there!
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