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How do I find someone trading a similar style as mine.
I continue to look through the trading journals and I cannot find a similar style.
Maybe some of you that have been here a long time can answer this question.
You can view my charts in the Journals. Patrick never Gave Up.
I basically trade the 5 minute chart. Price action is king. 2 indicators. trading channels and reversals. Hunting wicks as targets. Hunting channels as targets. Hunting 60 min S/R as targets. Stops and targets based on Price Action of the 5 min chart
Anybody here trading a similar style?
Can you help answer these questions from other members on NexusFi?
However, for the 3-4 ticks you aim for on 10 CONTRACTS!? I would definitely not use a 5 min time frame. A lower time frame can produce more opportunities with less risk
I trade 10C Sim because that is eventually what I will be trading live and I want to see how the order flow will typically work. Its also a psychological trick I am playing on myself.
I have the cash to play 10 however I have not earned the right to trade 10. Heck I am still working on the right to trade 1 ! LOL
I just finished my first month in market replay trading my rules and had good results. I need 3 more.
I would like to see some of your trades in order for me to decide if you have a similar style...
Are you trading live?
If you always do what you have always done you will always get what you have always gotten.
Celebrate because you executed your edge. Not because you won.
I dont want to be "that guy" who lectures others on what works and what doesnt, but for me - when i see the risk you are willing to take(stop) vs. the target- i tremble. Looks like you'll need four wins to make up for one loss?
FDAX can really move, and chop you out fairly fast- so i understand the need for spacious stop. But i would really consider having a closer look at the risk you are willing to take.
Trading the lots you are aiming to trade live is in my opinion a very good thing. Will help you keep your calm trading smaller lots live when its only a fraction of what your used to seeing. However, make sure you are confident on your strategy before testing that R:R live
Also the beauty of trading multiple contracts is the comfort of allowing to lock in profits as the trade evolves, and quickly ensure a breakeven/stop loss while having contracts left to keep on running up leg after leg after leg. "All in- all out" will in my experience often result in many "shit i should have taken profit here before it reversed into a loser!" and "shit i should have kept my cool during that pullback and stayed in this trade, i coulda made 10x more!!" situations
Also the cool thing about trading is even tho people see the same chart, they interpret it so differently! Therefore ill just add some observations made in hindsight. First off there seems to be a relevant downtrend going on for at least 4 hours so going long without a better confirmation of trendchange than that one pullback to MA is risky business.
Personally i actually see an "almost" triple bottom, looking at that swing low at around 06:30. So i actually see a resistance line around those levels, and so if id be willing/crazy enough to go countertrend without confirmation(try to nail that reversal)- i would have tried to go long at 7174 and SL around 7170. However that would be very ballsy- so to be safe, i would let this play itself out and see whether its a real reversal or just a juicy pullback before plunging further down. Thats "confirmation" in my book and has kept me out of many bad trades into pullbacks i initially thought were reversals (also missed out on some sweet ones). Never underestimate the strength/potential of a trend.
So TLDR - id wait for another leg upto 7196 ish level, then a pullback to max 7192 where i COULD consider a long if i saw some significant support defending those levels. Targets would be upto 7200 and 7208 and runner.
