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I want profit 1 tick per trade , Can I do that ?


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I want profit 1 tick per trade , Can I do that ?

  #31 (permalink)
DubaiTrader
Dubai, United Arab Emirates
 
Posts: 121 since Apr 2020
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Don't focus on the profit side (i.e. +1tick) because you cannot control it, your focus should be on the Risk side (that is what you can control).

Having said that what is your stop loss? -1 tick?

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  #32 (permalink)
 EgoRisk 
Fort Lauderdale, Florida, USA
 
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DubaiTrader View Post
Don't focus on the profit side (i.e. +1tick) because you cannot control it, your focus should be on the Risk side (that is what you can control).

Sound advice. This is the hardest lesson to get when starting out.

A trader's journey hasn't really started until he grasps this concept.

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  #33 (permalink)
 RT777 
Toronto Canada
 
Posts: 41 since May 2020



module0000 View Post
This works if your entries are perfect and your win rate is incredibly high. It's highly unlikely to have both of these things(not impossible, just improbable). You'd want to do this on an instrument with very high tick values, like US treasuries.

I actually think this would be much more difficult . If we are talking about futures (ZN etc) the size of bid/offer is significantly larger than most all other instruments, which means you are at the bottom of the fifo sometimes 1000's of contracts deep. Therefore you are almost always forced to buy the offer and sell the bid. The spread can eat you alive. I honestly think less liquid, but not to an extreme, something like NQ makes it easier to get in/out.

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Last Updated on May 26, 2020


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