Nine Round Turns is a lot....Really.
I've read a lot of people .....Mark Cook must be an excellent trader. He thinks you should have three trades by 11 Eastern.
I dunno, I can't do that. I'm not Mark Cook.
Look, here's my opinion....look for two or three trades a day. If you have to trade more than that you probably are taking trades with a low percentage profitability.
You have a database. My experience is that there is rarely more than two excellent trades a day. So if you are up to Nine aren't you sort of pushing your odds?
I don't want to come across as telling you what to do......maybe you are doing great. But wouldn't you rather try to find the two or three trades that make the Money rather than take every signal?
Don't get me wrong, I'll think it's a Long in the morning, a Sell in the Afternoon and Sell it in the Afternoon and come off.....then Sell it again and come off.....then Sell it again....
But Nine? Matt, that sounds a lot like you are working much too hard. Look at your charts, you aren't goin to find a day in history where you have 9 trades. Don't get me wrong, I just wish you to look at the charts.
<always overshoots the large by a couple of ticks>
No.......but it can and often does. Sometimes dramatically.
<like every time I try and use limits to enter, I'm left on the sideline >
Yes, the current Market to some degree. Honest to God, trading the Mini at Market will give you great Fills once in awhile....other times you just won't be happy with it. I'm sorry, I see you have had problems there but Market on the Mini can be rather painful. Daytrading it, anyway.
<would you then use a slower MA for a signal s>
Well, yes, I do use slower Mini Averages by chance. But I don't use them for entries really.
Well scratch that. I am aware of where the Averages are? But I do not use them for Exits nor Entries....I just know where they are so they are a factor in my decisions but they aren't the overriding decision...sorry if that's not clear.
<Or would you just take a little more risk on the stops?>
I guess if I was in and the MA's were well away I would take more Risk. My habit in the past was to take out half on the break of the MA's on the first penetration of the 5 minute bar and to hold half. Then I would hold the other half with a Stop above the second 5 minute bar after the break.
I don't know if this helps but it's what I used to do.... |
