This article is based on trading 4 contracts of the ES mini from a 5 minute interval chart- Additionally, all trade executions under these notions are based only when entering long positions with stop entries above price or entering short positions with stop orders below price.
It could, (just), be treating each day as though it’s tight and range bound is the safest bet all around. The brokerage fee of $4.00 round trip on 2 lots that yield a plus .25 Target 1, (T1), stop to entry, leaves you plus $17.00. Consider your trade base camp there. We could talk and dream about the second and running targets but T1 is what is most important. Simply, you bank T1 60 out of 100 times and T2 and running targets become a subsequent conversation brimming in all sorts of creativity.(more…)