Replies to post #33019 on Short Term Trading Member Forum

[aire88bro]

Anyone have a better Idea. eom.

[Chuck703VA]

Airebro, you could try a 'trailing stop' if you have access to one..... you might be able to set the 'trail' in either percentage or dollars and cents. I don't trade the mini so I don't know...I use them with options. good luck

If you're not familiar with them, simply stated at the time you go live with the order the trail is set based on the current bid at the time. If the bid moves up, the stop moves up with it. It triggers into a market order when the bid retreats back to it.....or beyond it.

Just a thought....

[Estimated_Prophet]

This is how I apply it to the ES, with a 3 unit multiple system.

3 unit stop loss 2 points below entry.

Target one unit exit 2 points above entry.
Target one unit exit 6 points above entry.
Target one unit exit 8-15 points above entry.

If I get the first unit out, I move stop loss on one of two remaining units up one point. If I get that first unit out, I can basically play things out now with only losing one point total, plus commissions.

If I get the second unit out, I move the remaining unit up to 1-2 points above entry(unless I am really positive about the coming move, then I put it at even or keep it negative 2 points).

Goal is to get paid on that third unit as many times as possible. You could easily apply this system to Hurst Methods, and someday I plan to attempt it.