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Old 04-24-2009, 02:17 AM   #1

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Why Not Just Get in !

Since I am a profile trader entries can be a little obscure a times. Trying to initiate a trade based on a developing profile can be a difficult thing, take it at the edge or the poc every day is a little different. After saying that, if you have a set up that is is as much gut as structure, lets say because of a price action or order flow type of pattern, whos to say you cant just jump in. Now I'm not talking sbout blind throwing money at the market, but sometimes pattterns show up in different ways, like in a gut feeling. So if you have a defined amount your willing to risk and and a pretty good idea of your first target, why not take the trade? This question I guess is more geared to those who actually make a living doing this, and i have a feeling a lot of the most sucsessful traders have something like this in their arsenal. Hope this can start something .
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Old 04-24-2009, 07:52 AM   #2

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Re: Why Not Just Get in !

One problem with "Just getting in" is that it is not a trading strategy that lends itself to performance measurement. Without a rules based concept, how are you going to know the probabilities associated with the entry.

If you are studying profiles, I have noticed that when 3 or more contiguous letters occur, you can safely play the breakout from either side of this "box". This concept is discussed further at Cisco futures.
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Old 04-24-2009, 11:46 AM   #3
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Re: Why Not Just Get in !

“Uncertainty, shifting quality of information, high risk, and ever changing conditions…”
Aren’t you ultimately saying you are considering lowering your certainty threshold slightly? Foregoing a little bit of ‘confirmation’, etc.
… continuing to keep the odds on your side while missing fewer opportunities?
Do it! But plan to do it first. Granted significant projections may be going on, but in the memories of when I asked the same kind of questions of myself I was almost, but not quite, ready to do it. Keep in mind - Every tweak to a system, be it a random or discretionary or highly structured system, is not really a tweak. It's actually a whole new system!
What else do you need to do to prepare for this minor (but major) shift in tactics?
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