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Risking 2 for 1.. probability & the bottom line.

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Brisbane, Australia
 
 
Posts: 95 since Mar 2018
Thanks: 72 given, 26 received

Risking 2 for 1.. probability & the bottom line.

So I've got the order book thing going, I'm waiting patiently and spotting these breakouts, if I don't see any I don't trade, truth be told it's almost as if I choose whether I win or not. what I can't choose is to always have opportunity, but not trading is not losing either, just trade when there is.

I got my target at one tick, I'm thirsty and will take what I can get besides you gotta admit it's less probable to go up another tick, it's just how it is.. I'm not greedy, I "won" - why not cash in?

Stop is below the bid -2 ticks, and with big leverage, ouch. Thank goodness for the win rate. it's still worrying however, is there such thing as a stop limit at the bid or do I need to raise the target to two ticks?

I just feel attached to this one tick target, it's also better for semi-automation where as if it were 2 I would really need to self manage which stresses me and takes toll on energy/mood.


If I see the offer is about to break and I market into it and there is a fair bid which I would be last in the que of, I can't see how stop limit at the bid would be that bad.. a stop limit at the bid I say.. hm.

I'm using sierra chart but the sim don't like it, sets it off at the last price rather than having a que like a true limit order.


The big loss does have one benefit, it benefits, it keeps my win rate up out of fear. I'm trading with damned Gregorian chants of Rome playing through my headphones.

Here's what I kind of think. If I'm always getting the EDGE marketing in as the bid/ask breaks then perhaps -2 ticks is only for a brief and highly improbable moment and I should use a trail stop to then bring it up to -1 stop loss once it breaks over.

But then again maybe I should let it breath, the market moves small volume over the top as big volume pushes it underneath the scenes.


With all these factors I'm having trouble, I need the advice of some good scalpers here, my futures experience is just what my profile says "None" I've never traded a live contract.

Please no people telling me I can't do something without explanation, what is second nature to you is unknown to others.


Last edited by Revan; August 5th, 2018 at 01:47 PM.
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