Millionaire in 10 weeks & Conversation with broker | Psychology and Money Management


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Psychology and Money Management


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Millionaire in 10 weeks & Conversation with broker

  #115 (permalink)

Montreal
 
 
Posts: 128 since Jan 2013


r3torcr0 View Post
I understand you are risking 5 ticks ($25) to make 5 ticks ($25). My question is what percent of your account are you risking (based on $25)?

Also if you decide to use NinjaTrader and need coding help, pm me.

I risk 5 ticks to make "50 ticks" or 5 points, not "5 ticks". It's a 10:1 ratio game here. If you want to play super conservative, you can even get in only at those multiple double top/bottom that you see everywhere in the Renko charts.

You place your limit order at the top and then your stop loss just 1-2 ticks above your entry so if it doesn't do a double top/bottom, you lose peanuts but again, you will be surprised as to how many of those double top/bottom you will find in this type of chart especially if you have 0.3 pt Renko charts (see green rectangles in screenshot below).

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Below are those double top/bottom done on today's chart...

Pretty much all of them would have given you your 5 pts without risking more than 1-2 ticks.

Now that's "HD Trading" baby yeaaaahhhhh.

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Last edited by MerlinWorld; July 30th, 2019 at 09:43 PM.