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Target Trader (

  #5 (permalink)

Washington DC
Trading Experience: Intermediate
Platform: NinjaTrader
Posts: 214 since Jun 2009
Thanks: 110 given, 120 received

I am playing with a strategy from Rockwell Trading that uses similar parameters. 8 range chart, 2 tick target, 8 tick stop loss. And if you sat and traded it all day, you would lose big, but....

The trick is knowing based on the strategy, that you may have 2-4 winners and then a loser, which sets you back to a loss. So, first you set a realistic target for the day, say 8 ticks. Then wait for a losing trade. Now the probability is with you the next couple will be winners. Take the next to trades, and stop. Wait for the next loser, and then take the next two. Again probablility is on your side. Once you make you 8 ticks, QUIT.

This doesn't do bad.


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