Thanks ZCars for your tips. You can read my mind .. smile ..
I've been experimenting the following strategy with my second computer:
Contract Size: 1
Predetermined PT: 6 ticks
Initial SL: 8 ticks
BE and Profit Protection: 4 ticks and 1 tick trail
Felt good when it adjusted SL to BE. Another 2 ticks from PT, quite often got hit too .. haha .. I'm a little reluctant to have a 4-tick PT because of the reward/risk ratio. Current .75/1 and a smaller SL does not work well.
Consistently making 1 ES point $50/trade is Great. I only need to increase the number of contracts. I've said many times before. ONE winning trade everyday on a consistent basis is all I need LOL!
Beth (Oh, I have a baby laptop with me. It succeeds in connecting with a wireless network provider - freebie .. haha ..)
Back from the country ride ... zozozo quite exhausted as I was in the car for almost 6 hours .. No chance to take any photos .. sorry Mike! Came across 3 amazing things, ie
1. Wind turbines (literally over 100) non-stop.
2. Baby and new-born calves .. very cute even only had glimpses at a distance.
3. A very cute bird (not sure about its name) with a little over-weight tummy.
Started labelling the 4-Range chart and spotted a Short opportunity (highlighted on the enclosed chart). Placed a Sell Limit order (my first 3-contract trade) and bingo!
1. Definitely it's an A+ trade (in my mind). It touched my first PT 6 ticks and did not fill me. After a few minutes choppiness, all 3 PTs were hit.
Note: Why I did a 3-contract trade? I was reading the Casino exercise (Trading in the Zone) and Mark suggested a 3- or 4-contract trade. Guess no harm done to try it out.
2. PA Practice - a B "still" though I don't mind having a + considering my diligence with a pair of zozozo eyes LOL!
Emotion: Once all PT/SL orders were placed (ATM strategy) + my subsequent SL adjustment, I was away from the computer for a few minutes. Felt very relaxed that everything would be taken care of. A very nice surprise that the PTs orders were all hit.
Hey, this trade could be my FIRST BIG WINNER ($310 after commission). Certainly don't mind having it on a consistent basis (for real too) .. haha ..
Beth (My eyes keep falling .. need a quick nap ..)
The following 3 users say Thank You to wgreenie for this post:
I've marked up your chart a bit. Do you mind if I also post it in the price action thread?
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The following user says Thank You to Big Mike for this post: