Welcome to the Traders Laboratory Forums.
Market Profile Are you a market profile trader? Post here.

Reply
Old 04-24-2009, 01:17 AM   #1

Join Date: Feb 2007
Location: carp
Posts: 102
Ignore this user

Thanks: 0
Thanked 14 Times in 11 Posts

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 .
ckait is offline  
Reply With Quote
Old 04-24-2009, 06:52 AM   #2

Join Date: May 2007
Location: Toronto
Posts: 265
Ignore this user

Thanks: 9
Thanked 154 Times in 57 Posts

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.
bakrob99 is offline  
Reply With Quote
Old 04-24-2009, 10:46 AM   #3
zdo

Join Date: Nov 2007
Location: boonies
Posts: 1,349
Ignore this user

Thanks: 317
Thanked 355 Times in 256 Posts
Blog Entries: 104

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?
hth
zdo is offline  
Reply With Quote

Reply

Thread Tools
Display Modes Help Others By Rating This Thread
Help Others By Rating This Thread:


All times are GMT -4. The time now is 10:39 AM.
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
CS to VB integration by DeskLancer
©2006-2011 Traders Laboratory, All Rights Reserved.