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This is a repost of a question in another thread below, but with a better title. I'd love to hear from some successful AGET day traders:
I am an experienced trader who is very much a scalper of stock indexes and bonds. With the reduced volaitility, I will have to learn to hold trades longer as there is not enough follow through to achieve the risk/reward I am used to.
I am looking for something to help me manage my trades so I catching longer moves. The reason I use, say, 3 minute and 133 tick charts is that I am used to very tight stops. Tight stops mean shorter time frames.
I will need to invest a lot of effort so am looking for guidance so that I can evaluate whether this is a likely solution for me.
I am familiar with Tom Joseph's "mechanical trading" white paper and am looking to see whether trading the type 1s and 2s on say 3 minute ES or AB in accordance with this methodology will give me a likely hood of, say, at least 50% profitable trades with a win to loss size of at least 1.5 to 1 on the basis that the risk per contract is about 2 points ($100) on ES and 1.5 points ($150) on AB.
I appreciate you or anyone else taking the trouble to reply. I'd really welcome someone from AGET joining this thread too.
Let me make it clear, I AM NOT LOOKING FOR ANY GUARANTEES. I am responsible for my own actions. Every trader is different. All disclaimers apply, but I would like a heads up.
Thanks.
I am an experienced trader who is very much a scalper of stock indexes and bonds. With the reduced volaitility, I will have to learn to hold trades longer as there is not enough follow through to achieve the risk/reward I am used to.
I am looking for something to help me manage my trades so I catching longer moves. The reason I use, say, 3 minute and 133 tick charts is that I am used to very tight stops. Tight stops mean shorter time frames.
I will need to invest a lot of effort so am looking for guidance so that I can evaluate whether this is a likely solution for me.
I am familiar with Tom Joseph's "mechanical trading" white paper and am looking to see whether trading the type 1s and 2s on say 3 minute ES or AB in accordance with this methodology will give me a likely hood of, say, at least 50% profitable trades with a win to loss size of at least 1.5 to 1 on the basis that the risk per contract is about 2 points ($100) on ES and 1.5 points ($150) on AB.
I appreciate you or anyone else taking the trouble to reply. I'd really welcome someone from AGET joining this thread too.
Let me make it clear, I AM NOT LOOKING FOR ANY GUARANTEES. I am responsible for my own actions. Every trader is different. All disclaimers apply, but I would like a heads up.
Thanks.