Got in a bit late on the first trade.....took a little heat but.....+10.
Second trade....thought there might be a push into lunch and took the short...+10.
Done. It's quad witching day. So..... probably not a good day to trade. Matter of fact...I usually don't trade on options X.
You'll notice the longs would have worked....but alas I am a red rat.
We'll continue the beatings until morale improves. Oh ...no ..I mean.... we'll continue the tweaking of the new Sharky Dots until we optimize the settings. I am going to focus on the YM (because it has been my main trading instrument for many years) and also monitor the ZN progress with Sharky and Dragon.
The following user says Thank You to Jeff Castille for this post:
Eric - you're making your risk calculation in hindsight. You cannot do that. Your risk & reward are determined when you put on the trade. And then you change that mid-flight to put more odds in your favor if you can. But I don't care what you do, if you start with an 8 tick stop then no matter what your risk is 8 ticks. Why? Cause price could drop down and stop you out in less than 1 second. It happened to me in Oil yesterday with a 30 tick stop. I was around breakeven and then BAM! Out. I connected to the website to verify my transactions, I thought Ninjatrader had a problem. No. So even if your stop is only hit once a year, your risk is 8 ticks. Period.
If I bail with aprofit of 3 then that's not the usual case. I'm going for a 30 tick target. If I bail at 3 it's cause I didn't want to end up with -3 or -8 or whatever. If my trades go like this:
-3, 0, -5, 3, 30, -8, 2, 0, 30
My PF would be 62/16 = 3.875
Today I took 4 trades on ES. I won 25%. I was profitable.
That's really all I have to say. If you want to calculate your R:R midflight then if it works for you then I'm happy for you. Everyone has to find what works for them.
The following 2 users say Thank You to cunparis for this post:
I must admit Jeff, this is the first indicator that I've seen that really looks like it can stand by itself and give good entries. I'm impressed so far.
I'd like to see how it handles a variety of days though. The trades today were all reverting back to the moving average. Would be good to see a couple trend days and a couple chop days and maybe one that goes up and then comes down.
we will test and modify it for at least a month for you guys,that way you can watch our progress,we will test it on all markets and all time frames,and we will not cherry pick any screen shots what we do you will see,thanks for the compliment cunparis...sharky