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brownsfan019

Smaller profits yields better results?

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And for anyone that suggests ending your day after reaching XXX profit, I will use today as a quick reminder as to why you cannot do that. I seriously thought to myself when I was up 4.00 pts on the day after 18 minutes of trading to stop.

 

FOUR LOUSY POINTS.

 

I could have literally left on the table 29.75 points.

 

I doubt anyone here would suggest that walking away after +4 was a good idea.

 

It's days like today that can make or break your month in my opinion. You must strike when the iron is hot b/c tomorrow could be a junk day. I can give back 2-4 pts tomorrow and still be way in the green. If I stopped after +4, there's a good chance 50% of that could be returned tomorrow.

 

Make no mistake - I am in this for the money and the money only. In trading you are not saving the world or making the Earth a better place to live. I work from 9am - 4:15pm to crank out cash. That's it. Now what you can do with that cash is a different story, but you have to make it before you can do something good with it.

 

Moral of the story as far as I am concerned - stay in the game all day, esp when you are on fire. Don't let fear of losing or 'giving money back' keep you on the sidelines.

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Excellent stuff Brownsfan, keep that amount up and it'll definately be worth getting a seat on the CME.

 

Cheers

 

Blu-Ray

 

Thanks blu!!! I feel like a kid the night before Christmas.

 

Who would have thought... take less per trade to make more in the end?!?!? Staring me in the face the entire time.

 

I know, time will tell, but it feels pretty darn good right now.

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Who would have thought... take less per trade to make more in the end?!?!? Staring me in the face the entire time.

 

Yep, curious, ain't it. But you seem to think that on a day like this, after reaching a daily target some of us would stop trading?

 

FOUR LOUSY POINTS.

 

I could have literally left on the table 29.75 points.

 

I doubt anyone here would suggest that walking away after +4 was a good idea.

 

Greed is good, isn't it?

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Brown :The output of your criteria its logic... you made money and your criteria is being validated by that fact... now if today you touched lets say 4 points... kept trading and went down to 1 point... maybe you would start thinking twice about using daily targets...

 

So if your technique can handle diferent hours of the day, and still be profitable... YES... keep them coming, if not... you will eventually consider taking a daily target and trade only on the most confortable time of the day for your aproach... there is a great deal on the cuality of your technicall aproach on this issue... its like a safari... if you have a 4x4 that can handle any terrain, you will keep going... if you got an old jeep with some oil problems you will think twice before continuing...

 

I asume your method is superb... im still curios about it... dont forget about your poor friends here at TL :o jejejej.... cheers Walter

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Yep, curious, ain't it. But you seem to think that on a day like this, after reaching a daily target some of us would stop trading?

 

In another thread or two, there was a lengthy discussion on stopping after reaching a target. I didn't like it then and sure don't like the idea now.

 

Greed is good, isn't it?

 

You say greed and I say executing your business plan and striking when the iron is hot b/c there will be cold days.

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TODAY'S TRADING UPDATE (AS OF NOON EST)

 

NUMBER OF TRADES: 37

 

GROSS ES PTS: 8.25

 

NET ES PTS: 6.31

 

WIN %: 54.05%

 

-------------------------

 

So far so good this AM. Not quite like yesterday, but I think that's why this method works so well for me. I can crank out 'small' 1.25's all day whether it's trending like yesterday PM or grab chunks like today thus far.

 

Note - I was incorrect on the previous commission quote. I am at 2.62 round trip.

 

At this point I think the treacherous day is going to be when it's in a very tight 3-4 pt range. And when that day comes, just have to take it on the chin and do it again the next day.

 

Also - I would like to point out another trader 'myth' that has been talked about on this board and others - not trading Fridays. Well, today thus far has put some more coin in my pocket, so I am of the belief that you simply take your setups regardless of days (unless of course your analysis and backtesting has shown statistical evidence that you don't trade well on certain days) but to just make that assumption based on a book or website is a very big mistake in my opinion.

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Nice Brown, only that what you are doing its a complete incognit...

 

as I asked before I will ask you for the last time and will not bother any more...

 

is it posible for you to post a chart on the premium sector of TL with arrows of your trades, without any explanation... so this weekend we can have some fun trying to figure out your aproach...

 

You will not loose anything, maybe we gain some... congratulations Brown for your achievments.... cheers Walter.

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MODS - GO AHEAD AND CLOSE THIS THREAD.

 

My point was laid out and it's there for all to see. I am not going to continue posting stats as that apparently upsets some people here b/c my entire trading plan is not laid out on a silver platter for all to see. I did not know that was a prerequisite for posting stats, but I may be mistaken.

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