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[QUOTE="TradeChaser, post: 208902, member: 66787"] Hayseed, I hate to harp on this message. But I really want to get it. The process, I do get. Your limits are captured in the retracement. Because of my lack of experience, my gut reaction says “what if it just shoots up”. Well, I think I know your answer… who cares when it’s only .01 lots. That’s the joy of small trades. So I would have to, in my system, be okay with that, or create another exit criteria I can live with. This leads me to some more questions: 1) in the trade pictured above, did you just set a PT at the bottom of the ZZ leg? Or was there a trigger? I know this isn’t the most pressing consideration, but I’m curious. 2) do you have a preference between set PT’s for each trade vs a common PT for a series of trades? For example, “Next Weeks Trades” I believe you mentioned setting 50 pips PT per trade. However, the trade above show a common target that closed all trades. [B]Do you choose one over the other, and do you see one as more superior?[/B] Also, I do understand the US FIFO rules. I understand that may be a factor, but I still would love to know. 3) grids vs plotting a trade - have you always set grids? Do you ever set a trade if a single lot to play out? 4) how do you analyze and asses the different zz lengths between 75,12, and 5? I’ve seen you use and mention all, but I’d love to know what’s going through your kind when you’re looking at them. When you are going to risk capital with a grid of limits, are hedging your bets on any of the three, or, for example, is it the 12 that you prefer? I’ve made an indicator that forecasts the next leg once the current leg has exceeded its average length. It’s pretty neat actually, but like with any indicator, to many graphics and you have a lot of noise. Again, apologies for the interrogation. I am going to make my goal for the back half of this year to double a $3000 acct with .01 lots. Even though I have to use FIFO, it seems demo accounts don’t make me abide by it. So, I am going to have to adjust my system accordingly to ensure my results are realistic. Just trying to sort out all of the factors other than the system itself that will lend itself to my success. I know not many can consistently pull profits from the market as you do. However, when I see your results, it’s definitely inspiring. I desire more than anything to replicate your successes. [/QUOTE]
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