4 Emini Dow Simulator trades

 

This was just over an hour of trading, 9:53 to 11:03 Eastern Time

Let’s zoom into to each one keeping in mind there was a 7 tick take profit and 12 tick stop loss for each.  It’s just after 1pm now with the Dow up just over 200 points.

 

chart724

 

On the first (a Short), being faster would have made the 7 tick TP possible within the “swing” that the trade was made in. It was manually exited for +4 ticks.

 

chart7241st

 

On the second (a Long), the price had really started trending!, and the 7 tick take profit was easily available, however the trade was exited manually (in retrospect, a little bit early) for +4 ticks

 

chart7242nd

 

On the third (another Long), price moved sideways, creating a nice horizontal range. It broke out and paused and I bought and exited manually for +3 ticks. Price did move exactly 7 ticks. It is possible that since the TP is a limit order it wouldn’t have been filled. That’s important because it was quickly sold off and moved back into the range.

 

chart7243rd

 

On the fourth (a Short), after the breakout was pushed lower, another larger sideways move was formed. This was exited manually for 3 ticks however the 7 ticks was easily available. Notice the 5 equal highs. When price came up to test those, moving 2 ticks above them, it was aggressively sold off in a continuation lower.

 

chart7244th

 

Reminder: This is a 70 tick chart which is considered pretty fast. I have referred to various trading approaches on the road to finding what suits me. One of them is from the book “Forex Price Action Scalping” By Bob Volman. In that one, a 10 pip TP and SL is used.

The idea here is to improve efficiency and increase size, not necessarily go for 10 ticks.

In Summary there were 2 full take profits easily available and not realized, and 2 which were questionable. In any case with this type of trading we need to act fast.

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