[brownsfan019]

Chris - here's how the OEC dom handles those type of situations, I like how it's laid out for quick and easy use:

[BrianNC]

Originally Posted by brownsfan019 »

Most of my stuff is in the candlestick corner.

I went there and read about the volume bars, etc., and it sounded interesting. Opened up a 1000 volume candle chart, and did a trade on volume action and got 1 pt. Beginners dumb luck.

[BrianNC]

Sim trading. Today's results. 4 trades, 3 winners, 1 BE.

[BrianNC]

Sim Trading. 15 min. chart. Set trade before I went to bed as usual. Buy and sell stop at the breakout of the ellipses. If it broke to the upside my target was 1070, and to the downside the target was 1057.50 which was a prior area of support on the 60 min. chart. I was stopped out by 3 ticks. Still wouldn't have hit my downside target by the time of this screenshot though if I hadn't been stopped out.

[bathrobe]

Originally Posted by BrianNC »

Sim Trading. 15 min. chart. Set trade before I went to bed as usual. Buy and sell stop at the breakout of the ellipses. If it broke to the upside my target was 1070, and to the downside the target was 1057.50 which was a prior area of support on the 60 min. chart. I was stopped out by 3 ticks. Still wouldn't have hit my downside target by the time of this screenshot though if I hadn't been stopped out.

Brian,

When you are trading real $$ are you going to set your orders before you go to bed also.

Chris

[brownsfan019]

10-9-09: +$657.50

Nice morning, missed a gorgeous ZN sell near the open.

I had to take the NSEA trade (oil traded @ ICE) on a different computer when my alert triggered. If you set alerts and will be roaming the house or office, sometimes handy to have a laptop here and there.

And to answer the question - why NSEA? B/c that market triggered my sell alert and the GCL did not today. So it was advantageous to have 2 identical markets up side-by-side and get the trade done on the market where it triggered. That's one nice thing about the NSEA/GCL/QM combo - those are all trading oil but sometimes one can give the setup you want and the others do not.

[BrianNC]

Originally Posted by bathrobe »

Brian,

When you are trading real $$ are you going to set your orders before you go to bed also.

Chris

Well, I don't know yet. I know the emotions are totally different with real money, as I have traded live before. Probably not, as I am going to start with a smaller account. I could definitely see myself doing it with a larger account. But I am in an experimenting stage right now too. So I will continue to set that trade before bed to see the results. Yesterday, as you can see from the post I made about my trades then, I still had 3 trades besides that one, two 1 pointers and a BE which is probably more like I will be trading to begin with. Smaller stops and smaller targets but with multiple contracts.

To be honest, smaller targets with multiple contracts like you trade is really what suits my temperament. I'd rather take 1 pt. with 5 contracts than 5 pts. with 1 contract because I believe the odds are greater for a 1 pt. trade than a 5 pt. I would rather increase profit by adding contracts as opposed to trying to get more points out of a trade due to the emotions involved. That's one reason I set a trade and walk away. It keeps my emotions out of it and either it works or it doesn't.

So anyway, I guess that's about an ambiguous answer as I can give you.

[brownsfan019]

Originally Posted by BrianNC »

To be honest, smaller targets with multiple contracts like you trade is really what suits my temperament. I'd rather take 1 pt. with 5 contracts than 5 pts. with 1 contract because I believe the odds are greater for a 1 pt. trade than a 5 pt. I would rather increase profit by adding contracts as opposed to trying to get more points out of a trade due to the emotions involved. That's one reason I set a trade and walk away. It keeps my emotions out of it and either it works or it doesn't.

I'm the same way Brian. As the account sizes grow, I incrementally add to my contracts traded. No need to start looking for more trades, just trade more size. The particular account being highlighted in the p/l thread is a smaller one, so I'm keeping that at 1 contract basically for now. If all goes as planned and I'm still posting, I'll add size later.

IMO the way BR trades is an excellent way to trade when you find 1-2 setups per day that you can count on. He's trading the ES, so you can take on substantial size w/o affecting the outcome which is nice.