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If you look at my charts in post #149 with the indicator entries, and took all the trades with a 2:1 reward/risk ratio, 10 tick target/5 Tick stop, you would have been profitable at the end of the day.
we will all love to have this positive ratio, but is very hard to hit target when u have only small SL, like this, so you may hit more SLs this way. I am not being negative, but practical
I trade everyday, 6E, GLD, 3 range charts with 2:1 reward/risk, 3 tick stop, 6 tick target. It all depends on the system that you trade. If you are trading 20ma and 40 ma cross overs, yes, that kind of stop/target will kill you, but if you are trading 2 or 3 bar divergences, you can make a killing instead. Look at the chart in post #149 and count the ticks on all the entries, then come back and tell us if trading that stop/target that day would have, or not been profitable.
Took 2 trades today. On the first trade, the trade was going wrong and the creator of the system said, this is looking bad, I'm not going to risque more than 4 ticks so he moved his stop, and so did I, because they asked me to follow them strictly on only the divergence trades (conservative ones). We got stopped out. So no winner again. Sigh.
Then there was a very nice divergence trade according to the book. They said: I'm not taking it because Trichet is speaking but I did took it because it really looked nice and managed to take 9 ticks out it.
So there you have it, my first 1 contract 9 ticks trade with the eminisniper system! I hope I catch some more of them. The 6E was very easy to trade today. Plenty of opportunities. Today I would say the divergence trades worked on the 6E.
That is a divergence that occurs within that many bars, most traders see that as noise on a chart, and never give that a 2nd look, but in certain circumstances, they are trade-able patterns to me.