Doesn't matter, I've made my money with 2 nice easy winning trades today. How many trades do you need in a day? I seem to remember something about 2% a day adds up rather quickly, from another thread.
all you need is +2 net wins to make nice money. I trade till that happens either 2 net losses or 2 net wins. so either make 720 or lose 660 for day for those trading 1 contract that 240 for the win or 220 for the loss
second entries!!!!!! first entries produce as many losers as winners!!!! That not a money making proposition, except for your broker. http://www.netpicks.com/trade-entrie...g-second-move/. If you don't know what a second entry is. It's a bitch that there aren't as many of them. The question comes down to this. Are you trading to get your gambling fix or to make money? No one knows where the market is going. So the obvious thing to do is look for a statistical advantage. If you don't believe what I'm saying about one legged pullbacks,...
Ignored
I looked at the above link and they never say taking first entry produces as many losers as winners. secondly they were using timecharts I use range bars that might make a difference. thirdly my live trading tells a different story. do I have losses taking first trade and then getting the win on second yes. do I get wins or be or +6 on first entry yes. so if I get a win on first trade 70%+ theres nothing wrong with taking them. if it we 40% I would not but its not 40% there is also the chance by letting first trade go and losing out on a win and then take second entry and have a loss. I guess it boils down to what one is comfortable with
