[jonbig04]

Yea exactly. I'm strapped for time for the next few days, but I will post my findings on here.

[NeoTrader]

Just don't let it consume time better used testing your 7 day trial.

[jonbig04]

I know its early, but I have to move tomorrow and have a lot to do today. I have no more trades anyway so I thought I would get this done. +12.5 yay!

[wjrusnak]

Jon,

Even though I and basically about everyone in chat disagreed with your exit strategy (letting +10.5 risking break-even), I want to pay you some respect for that. You did this, not because you're some crazy ******* that was betting high, but because in your research and testing, you found that you made more by letting price hit your target. For that I say Kudos! Had it gone break-even, you know I would have been the first to say, "Why the hell didn't you set a stop at the last swing!?!" In any case, good trading.

-- Bill

[jonbig04]

haha yea everyone hates all in/all out. The biggest point I have to make is t hat for better or worse, today all in/out was my plan. To change it on the fly would have been a lack of discipline. Even if God himself is telling me the sucker is gonna drop, 12ES is a drop in the bucket when compared to maintaining consistent discipline.

About the actual strategy, I really wasn't sweating it that much. It was a little weird because I had no R levels up here, but that also means that...well there are no R levels up here haha. And as I mentioned, the resistance we broke out of wasn't run of the mill R. It was major R on the DAILY charts. 12.5ES is really not much compared to what this sucker may do in the coming days ahead. Lastly, my biggest reason for all in/out is because its simple. Is it psychologically difficult? Sure. But its the most profitable. Why? Because I'm a noob. I can barely manage to get one entry and exit right, let alone multiple exits or entries. When I am experienced and can make better decisions about entering and exiting, then I'm sure I will scale a few off here and there. Ideally though I would like to scale off 3/4th and leave the rest on over night at BE. That would be fun. One day.

Atto has been kind enough to code a strategy that ets me overlay TICK data onto my 5 sec chart. I will be playing with this a lot to see if I can get it to help with my currently non-existent first test trading. I'm driving cross country and will miss tomorrows trading.

[MidKnight]

John I have to interject briefly. Many many traders from mentors (Denise Shull comes to mind), pros, and rookies like myself find it it much easier to do the multiple entry/exit thing. By not doing it this way, the trader is asking for perfection on every action rather than averaging the actions out for an average result. Keep your mind open, there is a reason so many do it - it's easier.

My trading catapulted when I was doing more than 1 contract that only allowed me to be all in or all out. Have a think about it, or try some things out in playback.

With kind regards,
MK

[jonbig04]

Whew 30+ hour drive is over. I am beyond tired. Anyways the market is rallying still and so far I have no levels here. I will look for some tomorrow on some larger time frames.

As for scaling, the only thing I have against it is that I think its misused. I think many people don't scale for PA based reasons, but psychological ones. Other than that I'm sure many people have great success with it. But for me, right now with 1 car, I will let it run. Also, 12.5ES is nothing compared to what a BO at 955 means for ES IMO.

I have a lot to do, but I will be working with TICK data a lot this week and will decide if I want to pay the $60 a month for it. If it can help with my first test trades it will be well, well worth it. To me, first test trades are where the real profit is. If I can make this work I think I can blow this thing open. Hopefully the TICK will give me some more information when attempting those trades. It will take a lot of backtesting and forward testing to know for sure.

[jonbig04]

The internet here was snarled into some mess and I didn't get to trade today. By the looks of things, I didn't miss much. Anyways I'm working with the TICK data now. I'm such a computer idiot.