I trade Monday through Friday, I like to be done by noon unless I am losing or the market is trending or swinging nicely. Like Divergence, if the USA banks are closed, so am I. No trading for me today.

Flag trading the trend

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^What he said^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ The only thing I would add/change is this: Sometimes, if you enter at a support or resistance level near the open, it may be better to hold for ...

Flag trading the trend

I'm with you. As I said in an earlier post, my trading is an open book to anyone who wants to ask questions, but I am not here to teach. I am always willing to share what I do, but I'm not going to wrack my brain nor my nerves to teach someone how ...

Flag trading the trend

"... 123's that breakout of the flagline. For me it is important the the point 2 always does so ..." Nice way to frame the set up ... Thanks for sharing! Trader Vic (Victor Sperandeo, who popularized the 123 nomenclature, would agree. In fact, for ...

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Agreed. I would also add that I think it is better for someone not yet consistently profitable to pick one market that does have the required characteristics and become consistently profitable before adding another market. I have two close, real ...

Flag trading the trend

10 year notes and 30 year bonds can have the range necessary but you have to be a real S/R trader to max out.

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One point a day is harder than it looks, imo, because your aim is so low that it is easy to have a few losses wipe out a couple of week's gains. I really believe that $200 to $300 per day per contract should be the goal, regardless of the market. ...

Flag trading the trend

Learn not to hate the loser when it is first. It can have a detrimental affect on your ability to trade your plan. Re-read trading in the zone. If you want to catch the big moves, you need to plan for them. If your plan is to take a fixed $X tick ...

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I know there are probably quite a few who read this thread and would rather see "real time calls." But I spent a couple of years in another thread giving "real time" and "before the fact" calls; and in the end, it was too tiring, too distracting, ...

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Finished the week with a final 4 points. You might say I left quite a bit on the table, but I purposely set the profit take order at 4 points. The purpose of this account is to make a steady consistent compounded income based on taking high ...

Flag trading the trend

Your eyes aren't tricking you. That's the great thing about price action - it is what it is no matter what you call it

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It can sometimes take partials if you are trying to fill a limit. And believe it or not, you can get slippage if you enter on a stop at an obvious price level where there are many more in line ahead of you. For example, my risk is 3 points/trade, ...

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5 points off the ORB short today. That gives me enough margin that I can trade 2 contracts and withstand 3 losses in a row without having to reduce size. If I trade tomorrow, I will stick with one contract. No trading on Monday (for me at least - as ...

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Very rough day indeed, and truthfully, it was all my doing and not the market. The ES actually performed as I had expected it to - in fact it outperformed in that I was expecting a decline but not expecting it to make new lows today! From the "what ...

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I netted out 4.4 ES points (still on one contract). I should have done much better. I took a whipsaw 2fer loss on my ORB trades (1st short then long both stopped for 3 point losses). Then made a 7 point profit (short the break of the revised opening ...

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Solid post, D. I do like the way you think. You are a "thinking trader's" trader. Parlay on, Dude!

Flag trading the trend

You are doing excellent work Divergence! The difference between us is that I am a "take the money and run" kind of guy. If my first trade gives me at least my $200 minimum, I'm willing to call it quits for the day and I go out and play. I don't ...

Flag trading the trend

The purpose behind this project is to explore the relationship between risk, reward, and the nature of compounding. In addition to the focus on price action, it is posts from D such as this one that really attracted me to hang out with you guys: ...

Flag trading the trend

Hitting CL for 30 ticks is hardly what I would call slowly! Nice trading D

Flag trading the trend

In my mind, last week was practice as I was getting used to this broker's trading platform, putting together my trading plan, trading while also finishing some back tests on the ES, etc. My $2K to $200K Quest is now officially (in my mind ) ...

Flag trading the trend