[TheNegotiator]

Originally Posted by TheDude »

Big money is made from big moves. Small moves cover past losses and business costs.

Big money makes love to beautiful women, small money doesn't.

The Dude abides.

Tom said it and I'll repeat it. Yes, if you are a trend trader. If you are not(and I would think many here on the e-mini thread are not), then this is simply untrue. In my experience, it is "the sum of all parts" that makes a non-trend trader successful or not. It's true that holding a trade for a big move is good if it comes off for you, yet unless you plan to trade like this all the time, even if it does work a few times, it'll play with your mind. That's why a good number of people use the method of holding "runners". This is simply put, a percentage of any given trade which is held beyond targets indefinitely based on activity.

Anyway, last point. I think that there is a real danger of the inexperienced trader getting sucked into mixing different strategies "on the fly" without any real plan to deal with the scenario. It's very simple, but it can be destructive for some.

[TheNegotiator]

Brief update for your consideration...

[roztom]

Originally Posted by TheNegotiator »

Tom said it and I'll repeat it. Yes, if you are a trend trader. If you are not(and I would think many here on the e-mini thread are not), then this is simply untrue. In my experience, it is "the sum of all parts" that makes a non-trend trader successful or not. It's true that holding a trade for a big move is good if it comes off for you, yet unless you plan to trade like this all the time, even if it does work a few times, it'll play with your mind. That's why a good number of people use the method of holding "runners". This is simply put, a percentage of any given trade which is held beyond targets indefinitely based on activity.

Anyway, last point. I think that there is a real danger of the inexperienced trader getting sucked into mixing different strategies "on the fly" without any real plan to deal with the scenario. It's very simple, but it can be destructive for some.

I want to add one comment..having a large win is a very "exciting" emotional event... When I managed a large piece of a Fund we had substantial volatility in our positions since we were "Trend Following" - it was part of our plan..and model...

I had to learn not to allow myself to get too excited when I would come in and see a surge in open trade equity... Inevitably it would be offset by the shorter term swings. It is all a function of timeframe, trade management and a process built on the anticipated volatility.

What the market giveth it can take-away as it rotates in the larger timeframe.

Newbies, IMHO should not be blinded by "greed" but havve a solid plan that allows them to become consistently profitable.. The timeframe must align with your personality and psycology.. all the elements that have been discussed here and elsewhere...must align..

It is no easy task to "own" your trade plan since most of us probably start out trying to mimic someone elses...

[TheNegotiator]

Originally Posted by roztom »

I want to add one comment..having a large win is a very "exciting" emotional event... When I managed a large piece of a Fund we had substantial volatility in our positions since we were "Trend Following" - it was part of our plan..and model...

I had to learn not to allow myself to get too excited when I would come in and see a surge in open trade equity... Inevitably it would be offset by the shorter term swings. It is all a function of timeframe, trade management and a process built on the anticipated volatility.

What the market giveth it can take-away as it rotates in the larger timeframe.

Newbies, IMHO should not be blinded by "greed" but havve a solid plan that allows them to become consistently profitable.. The timeframe must align with your personality and psycology.. all the elements that have been discussed here and elsewhere...must align..

It is no easy task to "own" your trade plan since most of us probably start out trying to mimic someone elses...

Big big potential psychological aspects. Owning your own plan is often harder for noobs if they follow someone else because there is so much detail that is never revealed to them(not necessarily an intentional act). This is why it's my contention that the best learning exercise for a new trader is to shadow a successful trader. Unfortunately for most, the opportunities to do this are somewhat limited.

[CYP]

Originally Posted by TheNegotiator »

Brief update for your consideration...

N,

As of 1400EST, looks like we're working towards previous VPOC, as per your chart. Looking for an up-close as we work back towards the 60 level...(this response is biased because I'm sitting long since 55...)

Thanks for the charts and commentaries - as usual!

Regards,

CYP

[TheNegotiator]

Quite possibly CYP. Broke below yesterday/friday's low and now back in range so test higher is likely imo. However, that doesn't rule out a neutral day either.

[roztom]

Originally Posted by TheNegotiator »

Quite possibly CYP. Broke below yesterday/friday's low and now back in range so test higher is likely imo. However, that doesn't rule out a neutral day either.

N: I also considered the possibility of a Neutral Day... I thought the untested lows would get taken but the move down has been like a stick in mud... Also we had a Neutral Day Tuesday so since they come in three's (I've been told) I thought we would see a little more fight...

I have a MLVN @ 53.25 and a CLVN @ 52.25..

Todays low was 53.00 right at the MLVN 53.25...always blows my mind...

I still haven't gotten comfortable trying to step in front of the train..

Tonight in GBX I am doing some scalping.. @ 19:20:59ish I I went long at 53.75 against the 53.25 MLVN.. of course now what

Edit: I am targeting 55.00 & 56.25..

[roztom]

GBX Trade Update..

It is now 9:03 cst.. and Both trade objectives were met... Scaled long from 53.75

1. 55.00
2. 56.00 It was initially 56.25 we ticked it several times glad for the 56.00..want to get some sleep

Total Scalp.. 1.25 + 2.25 = 3.50 pts..

As usual for me the first target was high probability the second a bit more of a reach... I suspect I would get the 56.25 if I wanted to wait but not worth the time...