Thanks Matt. I read the Sept 28 post on stops. I am emotionless.
Infact I am not trading. I just wanted to know what the
procedure is, the one you use to close the position and calculate
profit and loss, without using hindsight. I am finding out it is
subjective and not suggested by the trading system. That makes me
wonder what makes you declare a position closed (obviously in real
time to avoid the hindsight issue). Thanks again.
sounds like you have a plan and a disciplined mind!
Anyway, that writeup I posted a while back is a good read and
I'll probably email that out today for others.
I always have concerns when people first try the systems - by
odds they could be starting where there is a streak of 9 winners in
a row, or they could be starting at a time when the rare loser
comes along. we'll see - again my guess would be that the systems
will cover on a wave B pullback. Currently we appear to be in wave
3 of A, which means we could have small iv and v to go before we
have the B. short term we have the 50 day MA just above and the
daily ATR to monitor as next resistance areas
Thanks Matt. I read the
ES systems short
Posted by vicky on 25th of Oct 2022 at 12:18 pm
Thanks Matt. I read the Sept 28 post on stops. I am emotionless. Infact I am not trading. I just wanted to know what the procedure is, the one you use to close the position and calculate profit and loss, without using hindsight. I am finding out it is subjective and not suggested by the trading system. That makes me wonder what makes you declare a position closed (obviously in real time to avoid the hindsight issue). Thanks again.
sounds like you have a
Posted by matt on 25th of Oct 2022 at 12:47 pm
sounds like you have a plan and a disciplined mind! Anyway, that writeup I posted a while back is a good read and I'll probably email that out today for others.
I always have concerns when people first try the systems - by odds they could be starting where there is a streak of 9 winners in a row, or they could be starting at a time when the rare loser comes along. we'll see - again my guess would be that the systems will cover on a wave B pullback. Currently we appear to be in wave 3 of A, which means we could have small iv and v to go before we have the B. short term we have the 50 day MA just above and the daily ATR to monitor as next resistance areas
Very helpful, thanks Matt
Posted by fundamentalvalues on 25th of Oct 2022 at 01:08 pm
Very helpful, thanks Matt
There is no stop loss
Posted by bpozdoll1717 on 25th of Oct 2022 at 12:27 pm
There is no stop loss in my opinion. The system just waits for a reversion and then eventually exits. Could be a loss or win.