Smaller profits yields better results?

[TinGull]

Wow, nice work! 29 trades...in the morning alone...phew! Im sweatin just thinking about that hahaha

[brownsfan019]

	Quote:	TinGull
	Wow, nice work! 29 trades...in the morning alone...phew! Im sweatin just thinking about that hahaha

Tin - understand that this is a learning experience for me as well since I was trading no more than 10 in a typical day. It's an adjustment to say the least.

But like I mentioned, it's much more 'fun' doing my job. I know that it's not supposed to be about fun, but if you enjoy your job, it makes life a little easier in my opinion. It was just an adjustment on my end - instead of saying I wish I caught that entire move with one trade, I am saying glad that I caught a good part of that move with many trades.

Here's another example: around 12:30pm EST we started a nice downtrend. Since then, I have taken about 14 trades. All shorts, but not all worked. Of the 14, 6 failed and 8 worked. So a 57% win rate. Nothing exciting if you just look at that number, but it's yield nice returns as all wins are 1.25 and stops are .75 on average.

[brownsfan019]

	Quote:	walterw
	Brown : I dont know if you will ever share your setups, but I would love to learn them... should you consider this thread about sharing.. http://www.traderslaboratory.com/for...-why-1871.html as too my experience I had only been capitalized sharing my entire setups... cheers Walter.

Walter - I guess b/c of how much time, effort and money is in what I do, it's hard to just give it all away on an open forum. I understand that may not be in the spirit of the board, but trust me, my system is for sake of argument here. It's not in one clean thread, but it's here if willing to invest some time piecing it together.

Here's what everyone knows on how I trade:
$ Use candlestick analysis heavily
$ Smaller stops
$ Closer profit targets (now)
$ Things are kept simple

Take that with a couple of my charts and who knows.

I personally place a lot of value on what candlesticks can 'tell' you. I don't necessarily use them in a traditional sense. In a post here, I suggested a poster try to 'see' what the candles are 'telling' him between the ongoing fight between the bulls and bears. EVERY single candle tells you something - who won, who lost and the occasional even fight. Once you know who just won the fight, you might be able to capitalize on that.

[walterw]

	Quote:	brownsfan019
	Walter - I guess b/c of how much time, effort and money is in what I do, it's hard to just give it all away on an open forum. I understand that may not be in the spirit of the board, but trust me, my system is for sake of argument here. It's not in one clean thread, but it's here if willing to invest some time piecing it together. Here's what everyone knows on how I trade: $ Use candlestick analysis heavily $ Smaller stops $ Closer profit targets (now) $ Things are kept simple Take that with a couple of my charts and who knows. I personally place a lot of value on what candlesticks can 'tell' you. I don't necessarily use them in a traditional sense. In a post here, I suggested a poster try to 'see' what the candles are 'telling' him between the ongoing fight between the bulls and bears. EVERY single candle tells you something - who won, who lost and the occasional even fight. Once you know who just won the fight, you might be able to capitalize on that.

Ok... maybe you can post some chart at the premium section of TL with some arrows of where your trades wher without any explanations, so we creative people can have some fun this weekend figuring out aprox. what you are doing... cheers Walter.

[brownsfan019]

WOW, WHAT A DAY TO BE TRADING LIKE THIS.

Today was a great example of a day where serious money can and was made.

NUMBER OF TRADES: 65

GROSS ES PTS: 33.75

NET ES PTS: 30.734 (2.32 COMMISSION RATE)

WIN %: 66%%

If every day could be like today, life would be very good.

This was a great example of a day where taking small chunks can real add up. Outside of the nice down move in the afternoon, most other trades were taking small pops here and there. It can add up.

I suggest you consider this if looking for something to exit on. Just my humble opinion but when my account is reflecting + $1535 NET PER CONTRACT traded, that grabs my attention.

Great day today!!

Now if the CAVS can pull off a win tonight it would be the great way to end the day!

[brownsfan019]

And for anyone that suggests ending your day after reaching XXX profit, I will use today as a quick reminder as to why you cannot do that. I seriously thought to myself when I was up 4.00 pts on the day after 18 minutes of trading to stop.

FOUR LOUSY POINTS.

I could have literally left on the table 29.75 points.

I doubt anyone here would suggest that walking away after +4 was a good idea.

It's days like today that can make or break your month in my opinion. You must strike when the iron is hot b/c tomorrow could be a junk day. I can give back 2-4 pts tomorrow and still be way in the green. If I stopped after +4, there's a good chance 50% of that could be returned tomorrow.

Make no mistake - I am in this for the money and the money only. In trading you are not saving the world or making the Earth a better place to live. I work from 9am - 4:15pm to crank out cash. That's it. Now what you can do with that cash is a different story, but you have to make it before you can do something good with it.

Moral of the story as far as I am concerned - stay in the game all day, esp when you are on fire. Don't let fear of losing or 'giving money back' keep you on the sidelines.

[Blu-Ray]

Excellent stuff Brownsfan, keep that amount up and it'll definately be worth getting a seat on the CME.

Cheers

Blu-Ray

[brownsfan019]

	Quote:	Blu-Ray
	Excellent stuff Brownsfan, keep that amount up and it'll definately be worth getting a seat on the CME. Cheers Blu-Ray

Thanks blu!!! I feel like a kid the night before Christmas.

Who would have thought... take less per trade to make more in the end?!?!? Staring me in the face the entire time.

I know, time will tell, but it feels pretty darn good right now.

[cooter]

	Quote:	brownsfan019
	Who would have thought... take less per trade to make more in the end?!?!? Staring me in the face the entire time.

Yep, curious, ain't it. But you seem to think that on a day like this, after reaching a daily target some of us would stop trading?

	Quote:	brownsfan019
	FOUR LOUSY POINTS. I could have literally left on the table 29.75 points. I doubt anyone here would suggest that walking away after +4 was a good idea.

Greed is good, isn't it?

[walterw]

Brown :The output of your criteria its logic... you made money and your criteria is being validated by that fact... now if today you touched lets say 4 points... kept trading and went down to 1 point... maybe you would start thinking twice about using daily targets...

So if your technique can handle diferent hours of the day, and still be profitable... YES... keep them coming, if not... you will eventually consider taking a daily target and trade only on the most confortable time of the day for your aproach... there is a great deal on the cuality of your technicall aproach on this issue... its like a safari... if you have a 4x4 that can handle any terrain, you will keep going... if you got an old jeep with some oil problems you will think twice before continuing...

I asume your method is superb... im still curios about it... dont forget about your poor friends here at TL jejejej.... cheers Walter