Target Trader (www.proequitytrader.com) | Trading Reviews and Vendors


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Target Trader (www.proequitytrader.com)

  #6 (permalink)

Elite Member
Wrocław, Poland
 
Futures Experience: Intermediate
Platform: NinjaTrader, Racket
Favorite Futures: Ockham's razor
 
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Posts: 651 since Aug 2009
Thanks: 321 given, 607 received


Peter2150 View Post
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.

Pete

hmm... I am not convinced that's how probability works

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