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)
Ok...but you have to understand the 'flip' is the same bar...as for posting...I can put up a chart ,but the trades are OBVIOUS to the naked eye...unless there is a flip...I just realized I haven't put up a chart for the last couple of days...will put up one for today when my daughter gets home otherwise have no idea where it will finish up being!!!
As for 'wordage' on a chart...I would be the last person you would ask!!!
Can you help answer these questions from other members on NexusFi?
I'm typically a leach on nexusfi.com (formerly BMT) so it feels good to come to the party with a gift. I second Optimus -- a neighbor or yours in Boca. Small boutique broker with rithmic feed, personal attention, and low fees. They support Ninja, MC and Sierra and would be able to help you automate or direct you to the right source. Matt Z is a member here. PM him.
I did look at trailing stops,but was not comfortable with any length....am considering using a CMO 'extreme breakdown' as a possible exit and reentry +/- 3 points...looks OK , but not satisfied it will hold up as it can come quickly in series and be a 'false signal' and I am left with minuscule profits , or even a net loss, while it runs to original target.
When I become proficient with MultiChart package I will be in a better position to 'tinker'....something I loathe doing as it might turn my head.
Finally got done...I misspoke earlier...the target was 132000 as 131000 was lowest BUY...drawdown exceeded 5% at the end of the series...
summary of trades following from above
S131175
L131275...end of series 2
S131225
L131325
S131225
L131300
S131250..end of series 3
L131225
S131125
L131250...flip
S131175
L131200........profit goal 132000...without getting to all the details, I finished up with a net loss after comms..!!!
Don't like that...what had happened is that the final trade was at the end of a series and the target shifted a net 2 points lower from last entry.
Last night was a series of trades, however I did not take any of them as I had a very long and frustrating (end result) day yesterday and I needed some good rest...
I am rested and ready to move on...never like Wednesdays and it turned out good last week....so who knows.
Sysot1t....I am going to put more effort into determining a trailing stop, because while the series loss may average 1 point losses, they do compound to give me concern in the 5 th series and by that time there were at least 2 or 3 good runners that rolled back where I could have taken good profitable trades.
Generally, I never let a winning trade turn into a loser except for this strategy and I am aware of my potential loss here.