Is it worth trading chop days? - Psychology and Money Management | futures io social day trading
futures io futures trading


Is it worth trading chop days?
Updated: Views / Replies:5,334 / 43
Created: by Itchymoku Attachments:6

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 6  
 
Thread Tools Search this Thread
 

Is it worth trading chop days?

  #1 (permalink)
 R.I.P. 1987-2018 
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Posts: 2,895 since Apr 2012
Thanks: 1,683 given, 3,642 received

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?

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Membership Revoked
Ontario, Canada
 
Futures Experience: None
Platform: NT
Broker/Data: IB
Favorite Futures: gold
 
dario1's Avatar
 
Posts: 405 since Jan 2012
Thanks: 62 given, 52 received

Answer
This post has been selected as an answer to the original posters question Answer



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

Reply With Quote
 
  #4 (permalink)
 R.I.P. 1987-2018 
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Posts: 2,895 since Apr 2012
Thanks: 1,683 given, 3,642 received

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

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.

Last edited by Itchymoku; August 17th, 2012 at 06:12 PM.
Reply With Quote
 
  #5 (permalink)
 R.I.P. 1987-2018 
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Posts: 2,895 since Apr 2012
Thanks: 1,683 given, 3,642 received

Monpere I know you counter trend trade. And, I know you're good at it. I see you

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Reply With Quote
 
  #6 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,335 since Jun 2009
Thanks: 29,448 given, 83,935 received


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?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
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)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #7 (permalink)
 R.I.P. 1987-2018 
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Posts: 2,895 since Apr 2012
Thanks: 1,683 given, 3,642 received


Big Mike View Post
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.

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.

Last edited by Itchymoku; August 17th, 2012 at 06:29 PM.
Reply With Quote
 
  #8 (permalink)
 R.I.P. 1987-2018 
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Posts: 2,895 since Apr 2012
Thanks: 1,683 given, 3,642 received

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.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Here are the charts revised with the x and y axis

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.

Last edited by Itchymoku; August 17th, 2012 at 06:49 PM.
Reply With Quote
 
  #9 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,335 since Jun 2009
Thanks: 29,448 given, 83,935 received


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

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
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)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 3 users say Thank You to Big Mike for this post:
 
  #10 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,335 since Jun 2009
Thanks: 29,448 given, 83,935 received



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.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Can't tell anything from those charts since you excluded the most important info -- the x and y axis.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
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)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote

Reply



futures io > > > Is it worth trading chop days?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Wyckoff Hunting for Great Risk/Reward Ratio w/Gary Fullett

Elite only
 

Digging into the Details of iSystems w/Stage 5 & iSystems

Jun 5
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Chop Indicators Blz17 Traders Hideout 58 February 11th, 2016 12:45 PM
Wife Of Switzerland's Central Banker Trading Francs Days Before A Devaluation kbit News and Current Events 6 January 9th, 2012 11:00 AM
Art Cashin On The First 5 Trading Days of the year kbit News and Current Events 0 January 3rd, 2012 10:56 AM
CFDs - not worth trading? Twiddle The Elite Circle 22 August 25th, 2011 09:21 AM
simple rolling feature including only data days / skipping non data days SARdynamite NinjaTrader Programming 1 July 15th, 2010 12:22 PM


All times are GMT -4. The time now is 06:57 PM.

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-05-21 in 0.14 seconds with 38 queries on phoenix via your IP 54.196.110.222