Adelaide, South Australia
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: 6E, FDAX, ES
Posts: 19 since Jul 2009
Thanks Given: 3
Thanks Received: 27
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I'm in the ES. It's 20 minutes after the open and a clear downtrend has developed. I place a trade off the indicators on a 1000 tick chart. It's successful and a new signal is given soon afterwards. This time the market goes sideways in a narrow range before breaking against me and stopping me out.
The market stays in a sideways pattern for some time. I get 2 further trades (from the 1000 tick chart) both stopped out.
I review these trades before the next session and find 1 winner and 3 losers from the 1000 tick chart. Looking at the losers in detail I glance at the 100 tick chart. Using my 100 tick chart rules (reduced profit target) I would have had 3 winners instead of 3 losers.
Do any of you use different charts (tick, time, range ...) to trade phases of the day?
Meggs
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