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How many tick will you take as STOP for ES/NQ?


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How many tick will you take as STOP for ES/NQ?

  #1 (permalink)
Montery Park CA
 
Experience: Beginner
Platform: TradeStation
Trading: NQ
 
Posts: 19 since Aug 2012
Thanks: 17 given, 4 received

How many tick will you take as STOP for ES/NQ?

I'm currently using 4-5 points for NQ. How about you guys?

I think 4-5 points stop is too much for me as the trend always ends in 4-5 point too...

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  #3 (permalink)
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esnq View Post
I'm currently using 4-5 points for NQ. How about you guys?

I think 4-5 points stop is too much for me as the trend always ends in 4-5 point too...

Impossible question to answer since you've provided no context.

How long is the flight from where you live to New York?

One persons answer has no bearing on the next persons answer, everyone trades a different style, different method, different approach, different account size, and for different reasons.

But I can say that in general, people are obsessed with trading tiny time frames with tiny stops, in order to give the appearance of minimizing pain from stops.

Watch:
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  #4 (permalink)
Montery Park CA
 
Experience: Beginner
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Posts: 19 since Aug 2012
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Big Mike View Post
Impossible question to answer since you've provided no context.

How long is the flight from where you live to New York?

One persons answer has no bearing on the next persons answer, everyone trades a different style, different method, different approach, different account size, and for different reasons.

But I can say that in general, people are obsessed with trading tiny time frames with tiny stops, in order to give the appearance of minimizing pain from stops.

Watch:
Webinar: Where to start as a trader? (Part I: Instruments and Brokers)

And read all posts:


Mike


Hi Mike,

Yes, I need to try some other things to get the better P/L ratio. Smaller time frame as entry & stop is one of the option after watch your webinar.

I Know too small stop has not much meaning. But it is kind of hard to get the balance.

I saw some guy do have very tiny stop by trading with DOM. What do u think about it? However, it means I need to change the broker and trading software.

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  #5 (permalink)
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esnq View Post
I saw some guy do have very tiny stop by trading with DOM. What do u think about it? However, it means I need to change the broker and trading software.

Stop trying to copy others is what comes to mind first.

Trading is hard. Scalping is harder. Why would you want to make it virtually impossible to succeed?

Mike

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  #6 (permalink)
Sydney,NSW,Australia
 
Experience: Advanced
Platform: MT4 MT Predictor NT
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Posts: 5 since Sep 2009
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Hi

Yes it's hard but to my mind after a lot of thought it should be easy

By all means have a stop of x but be sure that that stop is not eating more than the percentage you've allowed for each trade.

Have a look also at the video from M T Predictor.

Good luck

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  #7 (permalink)
Austin, TX
 
Experience: Master
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It is not how many ticks you will take it is how many ticks is necessary? What does your back test say? What does your forward test say? What do your ratios look like? What kind of probabilities does it all produce? What kind of draw downs can your count size handle? Point being stop not just something decided arbitrarily.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #8 (permalink)
seoul, Korea
 
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For my specific intraday set up my stop size is about 3 NQ pts. But i adjust +/- with ATR. again its all about context and what i am trying to do. Always pick the right tool for the job. Nothing can be cookie cutter.

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  #9 (permalink)
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
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esnq View Post
I'm currently using 4-5 points for NQ. How about you guys?

I think 4-5 points stop is too much for me as the trend always ends in 4-5 point too...

I agree with what Big Mike wrote previously. However, i would not be too far from truth by saying on the NQ when momentum is kicking in or a move is developping a stop of 12-15 ticks is realis'tick' if your entry level allows at least a 1:1 risk reward for your first contract. If you then use that profit as a cushion for holding against the opposing force that will try to scare you to death by revisiting your entry point then a greater reward might be expected on your remaining contract(s).

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  #10 (permalink)
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,877 since Oct 2009
Thanks: 3,496 given, 4,947 received



Big Mike View Post
Impossible question to answer since you've provided no context.
...Mike

Even though the context is not specified it is still possible to form an educated guess about it by doing some calculus even though there is no system in the picture. What comes first? your tolerance to risk, your backtests or reality? Simple statistical test my point the person in the right direction. To be sure, just look what arnie did to find the typical rotation on the ES. I would think this question here falls into this category or research department:


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