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Nice work today. Area 104.60 -105.00 has been S/R all session.
70 ticks is a very good day.
I remember you saying that 30-50 ticks a day is what you targeted (If memory serves me correctly) With using the 5 minute, and seemingly longer targets, have you revised your count?
Seems like your number of trades is down to, something i recognise when I first switched to the CL. I dont know if that is your experience.
Seems like your are very comfortable with the longer time frame.
I noticed the swings where I would be getting in were almost always paying 30 ticks. Sometimes more, but even on the crappy days, 30 seemed to be the sweet spot. So 25-30 ticks is the target and at least the last couple of days, I've been pretty comfortable with the 30 tick target.
I estimate there will be 3-6 trades a day IF I sit around and watch it all day long. I am looking for 2-4 normally and I think if I get two 30 tick trades off and perhaps a 10 or 20 tick trade I am doing really good.
Of course there are entries that will pay much more than 30, but 30 seems to be an all around good target.
So, I'll go with it for now.....I am still watching the one minute and may continue to take trades off it but they will be 10-15 tick scalps for the most part.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Very nice Panda, going from 1min to the 5min swings with the same method. Have you thought about having a second 1min chart for scalping the smaller volatility/volume areas or you're going to just stick to fewer trades now? Thanks.
-12 today. Was in a fog most of the day, couldnt figure out where price wanted to go. Got frustrated with the large entry bars. In general was out of sync with everything today.
