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Is it worth trading chop days?
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Created: by Itchymoku Attachments:6

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Is it worth trading chop days?

  #41 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
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DionysusToast's Avatar
 
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Sort of depends what you mean by "chop" - I think there was a day in the past few weeks where the range on the ES was 4 points - that's not worth trading.

Other than that, chop is fine as long as you know it is chop. On a regular day on the ES, we'll put in 10 points up & down. I define that as a 'regular day' and not a chop day, personally.

To me chop is 3-5 point ranges. They are fine to trade but the key is that you have to know that it is chop and not try to get too much out of it.

Recognising chop is done by experience. I think you get chopped about less, the more screen time you have.

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  #42 (permalink)
Elite Member
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Yeah I watched that and It was in the back of my head, I seem to only learn from my own mistakes. I've transitioned from static limit/stops distances I had for every trade to strategically placing my stop. limits are still a bit tricky because I want to have a 1:2 risk reward, but often times it makes more sense to get out when I see price congest at a level close to my limit.

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  #43 (permalink)
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I highly suggest using a fixed Y axis to anyone reading this thread with the same problem trading non-time based charts and deciphering chop. Auto scaling charts are very deceiving and I was starting to use the actual length of the range bar as an indicator of range, which is just obviously counter productive. I love NT, But it's a little disappointing that they didn't already code this into their charts.

https://futures.io/download/ninjatrader-7/indicators/1174-download.html?view

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  #44 (permalink)
Trading Apprentice
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Choppy days chops the account...

I have traded trending days and I have traded choppy days... In a small range where most candles overlap each other, it is impossible to trade because it messes with your mind... Choppy days are not worth the effort you put in to trade...

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