Don't suffer from 'all or nothing' trading. The correct answer is to add in, and ease out on movement.

If imposible to discucus SL and SP size without knowing what time frame you are trading on. I most use 30 sec. time frame and for most contracts ( Russle, Dow, Gold; Crude oil ) I use 15 tick SL ( 3,75 points on ES mini)

Correct. Not to mention the particular trader's risk tolerance.

Any other answer is making way too many assumptions.

Yes, Correct but the risk tolerance should maximum be 1% of the total trading capital, preferable less then 1%.

This means - the the case of 3,75 points (15 tick) = 12,5*15= 187,5 USD + 2* 1,69 ( commission) = approx. 19.100 USD is needed in capital per ES Mini or 1.910 USD per ES Micro. - If the SL is more or less the math changes accordingly.

wldman 

@techa IMO at this point in the game you are working on your psychology not your trading method. Take great steps to protect you positive frame of mind and continue to build momentum and confidence. The fee structure does suck, but it wont kill you. Additionally there is a bit of conditioning involved when the p/l dial spins at a furious pace. Perhaps if/when 5 MES becomes routine (trade a 2 and a 3 not 5 ones) your next step would be one ES on the tight metric from your multi lot approach. The important item IMO is becoming comfortable with increased profit/risk AND defending your capital mercilessly. All the best. -Dan

I think you are totally right. Looking back, it is almost embarrassing to think I even started this thread with the idea I might be ready for ES. I have much to learn! Holding tight to my capital and live testing in combines showed me how much psychology plays into it (making me question my strategy and deviate from my rules). Thanks for your input!

TraderMich 

Yes, Correct but the risk tolerance should maximum be 1% of the total trading capital, preferable less then 1%...

If you are replying to my post (?) please read my post again.

If you are not replying to my post it is because you never read it in the first place.

xplor79 

Hi there, Just wondering, how many points for a stop loss would you consider wide enough with this volatility? Thanks!

I wish I had a magic formula to share but I dont :-)

It depends on the trading method, expected profit target and more.

I like to use either stops based SR levels, perhaps using the PSAR, perhaps using Bollinger bands...

If your method looks for very small profit then its a diff. story, if your method looks for larger profits/ swings intraday you can also look at the daily ATR and use a % of that daily avg true range as that will adjust to volatility.
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