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Trading Journal - Reversal Bars
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Trading Journal - Reversal Bars

  #121 (permalink)
Elite Member
Irvine, CA
 
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JTurner77 View Post
Can you provide greater detail on the manner in which your winning and losing trades behave after you put them on.

I am curious to know if your winning trades generally go into the green immediately and reach your profit target with minimal time spent in the red. Or if it is a struggle or grind at first with the market inching its way toward your profit target?

How do the losers act?

In my head it would seem that since you are basically getting stopped into a trade with the market sweeping you into your position (long or short) and that these are reversal trades that most of these entries move pretty quickly and without much stress.

And if this is true, I wonder if the losers sort of bounce around and exhibit different tendencies before getting stopped out.

I don't usually watch it after I am filled. But I have to say that the winners usually happen quicker than the losers. In fact, after one bar I am moving my stop closer to my entry based on price movement.

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  #122 (permalink)
Trading for Fun
Los Angeles, CA
 
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I wonder if you might be able to increase your profits and decrease your risk by using a time stop instead of a dollar/tick stop on the trades that go against you.

I am not suggesting you alter or modify your set up at the moment since you have a high degree of comfort/confidence with it and you are making money with it. But, perhaps, you might want to consider tracking in better detail how the losers behave and see if you are better off using a different kind of stop.

You might be able to shave some ticks off those stops or even scratch them out for a couple tick loss if they don't immediately move in your favor. Of course, if your winners bounce around for a bit you could end up stopping out on winning trades as well.

However, since you said that they seem to go your way right away there could be some benefit. Either way, I think you might benefit from tracking your trades in a more substantive way (with regard to how they react/behave once you put them on).

Just some thoughts.

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  #123 (permalink)
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No trades today.

Trade Results: 36 Trades. 25 Wins / 11 Losses. Ratio: 69.44%. MTD: 0 ticks (per 1 lot) YTD: +281 ticks (per 1 lot)

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  #124 (permalink)
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No trades today.

Trade Results: 36 Trades. 25 Wins / 11 Losses. Ratio: 69.44%. MTD: 0 ticks (per 1 lot) YTD: +281 ticks (per 1 lot)

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  #125 (permalink)
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No trades today.

Trade Results: 36 Trades. 25 Wins / 11 Losses. Ratio: 69.44%. MTD: 0 ticks (per 1 lot) YTD: +281 ticks (per 1 lot)

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  #126 (permalink)
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Toronto, Ontario, Canada
 
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Moving targets

Your thread is very cool, brave and honest. Much appreciated.

I noticed in several of the posted charts that price moves well beyond your target. You also mentioned that on winners price moves quickly to the target. A suggestion would be to move a tranche of your exit target orders further out if you see rapid progress.

Hard to know how this will impact trades where the direction looks good then fades, or on trades that are good but don't make it to the the further exit level.

This doesn't help for a single contract, and introduces more discretion than you probably are looking for. But by now you've probably got a pretty good feel for when this is happening and it looks like 5 - 10 extra ticks on the runners.

Hope this helps.

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  #127 (permalink)
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VolTrading View Post
Your thread is very cool, brave and honest. Much appreciated.

I noticed in several of the posted charts that price moves well beyond your target. You also mentioned that on winners price moves quickly to the target. A suggestion would be to move a tranche of your exit target orders further out if you see rapid progress.

Hard to know how this will impact trades where the direction looks good then fades, or on trades that are good but don't make it to the the further exit level.

This doesn't help for a single contract, and introduces more discretion than you probably are looking for. But by now you've probably got a pretty good feel for when this is happening and it looks like 5 - 10 extra ticks on the runners.

Hope this helps.

That's a good idea. One of the ideas I had was to move the stop to BE after it hit the initial target and let the remainder run.

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  #128 (permalink)
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July 9, 2014 Trade

Contract: Russell
Entry signal: Reversal Bar Long
Entry price: 1168.1 (red)
Exit price: 1269.1 (green) Target
Entry time: 7:06 A.M. (Pacific Time)
Ticks: +10 (per 1 lot)

I was not able to post this on the 9th because the Big Mike website was down.

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Trade Results: 37 Trades. 26 Wins / 11 Losses. Ratio: 70.27%. MTD: +10 ticks (per 1 lot) YTD: +291 ticks (per 1 lot)

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  #129 (permalink)
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2 Trades Today!

Contract: Russell
Entry signal: Reversal Bar Long
Entry price: 1161.0 (green)
Exit price: 1262.2 (red) Target
Entry time: 7:36 A.M. (Pacific Time)
Ticks: +12 (per 1 lot)

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Contract: Crude Oil
Entry signal: Inside Bar Long
Entry price: 100.45 (green)
Exit price: 100.58 (red) Target
Entry time: 7:48 A.M. (Pacific Time)
Ticks: +13 (per 1 lot)

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Trade Results: 39 Trades. 28 Wins / 11 Losses. Ratio: 71.79%. MTD: +35 ticks (per 1 lot) YTD: +316 ticks (per 1 lot)

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  #130 (permalink)
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Posts: 416 since Oct 2011
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No trades today.

Trade Results: 39 Trades. 28 Wins / 11 Losses. Ratio: 71.79%. MTD: +35 ticks (per 1 lot) YTD: +316 ticks (per 1 lot)

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