Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Hey guys, sorry, that video I posted was not publicly share-able. I asked the admins to remove the post and so I'd just like to ask that if you still have the link, please do not post it publicly. thanks
Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
Thats because I have them set to calculate on bar close "True". I don't need them to be "non lagging". But I think the very definition of indicators means they are lagging.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
PW - I'm assuming you're using an ATM strategy for your entries? Have you considered adding a trailing stop strategy that kicks in at 11 ticks and is, for instance, a 3 or 4 tick trailing stop? This way you could set an open-ended target and just use the ATM stop strategy to take profits. This way anytime your trade hit +11, you would be sure of booking 7 or 8 ticks but if the market was moving strong and took off, you'd stay in the trade. Something to think about anyway.
Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
Yeah, I've done that. It works a lot of the time. But since I am not looking for home run trades, I just take it off at 10 ticks and let be. I'm finally ok with that. The big runners I miss don't bother me any more. I'm super happy with 10 ticks from a trade. Basically I am just looking for 2-3 of those a day and I am done. I use a super tight trail stop to make sure my losers are smaller than my winners and just look for a few decent entries and let it go at that.
One day I will begin looking at larger trades.....but I think I will just go to a larger bar with the same set up and maybe take 20 ticks at a time. But thats down the road a ways. I am happy where I am at currently. It works and suits my personality.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
We do need to catch up. I am not free from indies yet. But the ones I do have actually do help me see price action better. They are just a collection of three items that help me stay with longer term trend, see HH/LL and and trade very short term trends within the longer term trend. After all, as a scalper, who needs to capture 100 tick runs and therefore, who needs set ups that produce those runs?
I will be done trading tomorrow around 7AM, maybe we can catch up then? If not then wednesday AM. I'll look for you online then. I'll have around 30 mins or so to talk.
Later.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
I am on sim this week. There is some construction around my neighborhood and my internet is intermittent. Turns out the cable company is installing fiber to our area! So I relocated to the starbucks I mentioned last week and am trading sim this week on a wireless connection.
I've decided to test the removal of my tight trail stop.... that is a no go....I'll just live with both the good and the bad a tight trail stop produces.
I am also testing two extra setups besides the money set up I like so much. Today, those two extra entry ideas produced most of the winners.
We will see how they work out the remainder of the week.
Today's results on sim +37 ticks after commissions in about an hour or so of trading and 12 trades. 3 ticks per trade is not that efficient but I don't care about efficiency. I care about net profit at the end of my trading session.
Tomorrow and the remainder of the week, I am looking to do about the same as today. We'll see how it goes.
Cheers
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris