5 ticks stop doesn't make sense to me now. Yes you risk less money, but your trade depends on your entry. If I start doing 5 ticks stop again it's gonna limit a lot of my entries. It's very challenging for me to get in the trade 4 ticks max from the pivot.
Yes, no doubt, this market deserves 1 point stops. I do not argue that! haha... But if you are really good, a couple ticks is all you need. It is all relative I guess.
Too bad I didn't see that short coming! It was a doozy.
Yeah! I think that's all relative. If you can get right on the pivot 5 ticks is the way to go. I prefer to give it some room in case it wants to retest high/low.
Here is my video BTW:
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Just watched my video and It wasn't so horrible. Couple of my trades had nice MFE, I just didn't take the profit. I guess I was waiting for bigger runs. I had at least to trail my stop and take some of it. Oh well...
Market seems really choppy today. At least for now. I tried to go short first time just to test the area. Second entry gave me some profit and I'm done. I don't want to risk it today. All I need is 2-3 points a day, after that I just gonna mark entries. I decided to go this way because that's really what I need. I have to reach my goal day to day and then if I see that I can reach it almost everyday I can try to raise the bar if I need to.
Here are my trades and summary:
I'll video when it's ready!
Here is my video:
BTW My 4181 was set at 6E. Haha... No wonder why it looked so different.
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