Disliked{quote} Almost like reading a how to trade book lol. What I meant by what are you doing is are you trading breakout or pullbacks it seems both coolIgnored
Staying in my lane...
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Disliked{quote} Almost like reading a how to trade book lol. What I meant by what are you doing is are you trading breakout or pullbacks it seems both coolIgnored
Disliked{quote} Both styles are legit so for now, I am focused on both with breakout being the driver for pullbacks. Both require gauging the speed/force so it is the same skill applied with a twist :- Sorry for the long post. I get carried away :-(Ignored
Disliked{quote} and if it is not clear, here's what my zoomed out chart looks like. I simply ignore/hide everything outside of the first NYSE hour. Just by looking at the gaps, it becomes clear which direction the breakouts will happen but regardless, I put my order on both sides of the 5 min range. If it whipsaws, my max loss is the 5 min range without monitoring or doing any analysis until the outcome of my first trade :- And I forgot to mention.... I also look at ABV (delta at ask vs bid volume) at the 5.5 min candle onwards to gauge the breakout direction(s)...Ignored
using 4contract on a 100K can easily generate 10K per session or flatten at daily loss capped at 5K. Especially good during Asian session like today.
Anyone see any downside that I am not seeing?
Correction: replace buy limit with buy stop orders for all pending orders. We want price to return to the pending order level in our direction instead simply adding to losers so we only use "buy stop or sell stop" pending orders to guide price to come to us.
Edit: like this in the image during Asian and then add more and then voila !
DislikedHas anyone tried griding or interested in exploring with me as an aggressive strategy? if not, any volunteers to be a critique in whether this is borderline martingale. I am not seeing a whole lot of downside risk especially when using FIFO to our benefit. With 25K account size, max contract allowed with day margin is $25K/500=50. Let's spare 50% of account just to make it a little more conservative so 24 contracts max allowed. With 24 to play with, at strategic locations, place 12 Buy Stop above current price and 12 buy limit order below pending...Ignored
Disliked{quote} Having 24 contracts open on a 25k account will play on your psychology like nothing most people have ever experienced. Once fully loaded, your grid will shift your account balance by nearly 2% for every 4 ticks it moves. Even when it is going in your favor, it will play with your mind and you will make bad decisions. 24 contracts is $120 per tick. As fast as NQ can move think about your thought process during those moves. Earlier this morning, it moved 24 ticks in less than a second. $2,880.00 against the current trend in less than a second....Ignored
Disliked{quote} Having 24 contracts open on a 25k account will play on your psychology like nothing most people have ever experienced. Once fully loaded, your grid will shift your account balance by nearly 2% for every 4 ticks it moves. Even when it is going in your favor, it will play with your mind and you will make bad decisions. 24 contracts is $120 per tick. As fast as NQ can move think about your thought process during those moves. Earlier this morning, it moved 24 ticks in less than a second. $2,880.00 against the current trend in less than a second....Ignored
Disliked{quote} i hate the labels.. makes it look confusing. is there a way to change colors on the filled arrows?Ignored
Disliked{quote} can you show me how you change the colors? screenshot please? at work so can't pull up sierraIgnored