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Is it worth trading chop days?
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Is it worth trading chop days?

  #1 (permalink)
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Is it worth trading chop days?

I'd like to ask all the successful traders is it even worth trading chop days or hours to make a small but consistent frustrating gain, or to only trade that steady angled trend? Am I reinforcing bad behavior by grinding on chop If I make most of my profits on the trend?

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Itchymoku View Post
I'd like to ask all the successful traders is it even worth trading chop days or hours to make a small but consistent frustrating gain, or to only trade that steady angled trend? Am I reinforcing bad behavior by grinding on chop If I make most of my profits on the trend?

based on my previous experience I say: yes (but only on SIM


P.S.
and I'm still not a successful trader as I want to be

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Sorry, I read that wrong. I assume you only trade sim, but I appreciate the response.


Last edited by Itchymoku; August 17th, 2012 at 07:12 PM.
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Monpere I know you counter trend trade. And, I know you're good at it. I see you

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Itchymoku View Post
I'd like to ask all the successful traders is it even worth trading chop days or hours to make a small but consistent frustrating gain, or to only trade that steady angled trend? Am I reinforcing bad behavior by grinding on chop If I make most of my profits on the trend?

Most the traders I see that worry about chop are trading really small time frames. What time frame are you trading?

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Most the traders I see that worry about chop are trading really small time frames. What time frame are you trading?

Mike

Usually 5 minute charts with 4 tick range charts.


Last edited by Itchymoku; August 17th, 2012 at 07:29 PM.
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Maybe chop is a bad word for what I'm getting at. I find that I can make money on both of these down trends, but the first one provides better accuracy. Its frustrating to wait for the first one, but It's equally frustrating trading the second one that occurs more often.
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Here are the charts revised with the x and y axis


Last edited by Itchymoku; August 17th, 2012 at 07:49 PM.
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Itchymoku View Post
Usually 5 minute charts with 4 tick range charts.

And how many trades per day do you take roughly?

I ask because generally I see traders that are taking 10+ trades a day, long, short, long, short -- those are the guys getting killed by 'chop'.

When you step back and trade bigger charts, reduce your trade frequency, reduce your size, increase your stop and target, keep your risk the same or even lower it through sizing or proper product selection --- I think you won't worry about chop any longer.

Besides, trying to answer your question "Is it worth trading chop days?" is more or less impossible. Please define for me a chop day and at what point in the day you arrive at that conclusion. Then run a thorough backtest and I would bet you exclude just as many good days as you do bad 'chop' days.

Of course, the market is in a range far more often than it is trending. But on a 4-range chart, even a range day can have the appearance of a volatile trend day in some markets.

Mike

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Itchymoku View Post
Maybe chop is a bad word for what I'm getting at. I find that I can make money on both of these down trends, but the first one provides better accuracy. Its frustrating to wait for the first one, but It's equally frustrating trading the second one that occurs more often.
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Can't tell anything from those charts since you excluded the most important info -- the x and y axis.

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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
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