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if you are using Sierrachart, you can easy automate your stops with spreadsheet and trade Managment Study. this will help with executing your SL, then you only need the discipline not to change the spreadsheet parameters while in the trade .
yes, you can use only the "Spreadsheet System for Trading" study and automate your exit in the Buy Exit/Sell Exit Column.
But you can also use the "Trade Managment by Study" with Spreadsheets in Sierrachart, then you need to define your exit logic in a Spreadsheet Cell and reference it in the "Trade Managment by Study".
Plan for the day: Enter inside bid/offer using limit order(doesn't matter long or short). Exit with market order after a 2 tick loss. Hold a winner until the end of the day.
10:54am Short @4780.50 -$2.50
10:58am Long @4779.75 -$2.50
11:01am Short @4780.50 -$2.50
11:01am Long @4779.75 -$3.75
11:03am Long @4779 -$3.75
11:05am Long @4777.25 -$28.75
These were a few fun trades in the micro SP. I executed my plan on the first 5 then held onto the last one way to long.
2:21pm Short @4798.25 | Exit 4787.50 | Result +$53.75
My usual stop loss is about 2 ticks. I gave this trade 4 ticks of room and it turned into a good one. Since it profited 43 ticks, about a 1:10 risk to reward ratio, not bad!
Also, I chose to end my subscription to the prop firm combine. Felt it just wasn't good for me.
Started trading micro crude again. 3 trades so far tonight in MCL.
7:19pm Long @73.68 | Exit 73.66 | Result -$2.00
7:22pm Short @73.66 | Exit 73.67 | Result -$1.00
8:02pm Short @73.82 | Exit 73.80(trailing stop triggered) | Result +$2.00
9:30am Short @75.49 | Exit 75.51 | Result -$2.00
9:45am Short @75.50 | Exit 75.53 | Result -$3.00
9:56am Long @75.50 | Exit 75.49 | Result -$1.00
10:20am Short @75.40 | Exit 75.44 | Result -$4.00
10:47am Short @75.50 | Exit 75.53 | Result -$3.00
10:57am Short @75.54 | Exit75.57 | Result -$3.00
Took another trade before close
2:04pm Short @76.11 | Exit 75.61 | Result +$50.00
Yes the market should definitely be interesting going forward. On the other hand there is lower world wide demand for oil in the forecast with the US producing record levels of crude offsetting the cuts by OPEC.
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