by eric-pal » Sat Mar 18, 2023 10:17 am
Targets make sense. However, remember with very larger bars what it may be saying is that the volatility is so great that it may be better to not trade. Directionality bias vs high volatility - there is a difference. One of the reasons why one doesn't trade the news. There is a relationship between bar size and the % success execution. Let's say average bar size is 4. Well, 1/2 of that is 2. Using a target of 2, you need to judge 75%+ probability situations well to maintain profitability (which is what is trained in the lectures). It is the relationship of the 3 variables (probability being the hidden one which is trained through experience).
With respect to targets, and Mack selections, the prime issue is that individuals are making poor choices for their trading opportunities. They are "enticed to move too soon". The lectures refine vision to the very high probability situations, and so the agreement against what Mack trades, as a subset, becomes very high, very quickly.
Essentially, it almost creates a mechanical system for evaluation. This is important in developing skill, fluency, and competency.
The last portion though relates to the market itself and personality. You will find that 80% of the time, the market is in a trading range. . . . This is critical. It means that most candidate selections will not move very significantly unless a trend is created. So, a portion is taken as a scalp, and opportunity for much more exists as a runner. On trend days, you'll want to "run as far as possible".
Hopefully helpful and good trades to you!
Targets make sense. However, remember with very larger bars what it may be saying is that the volatility is so great that it may be better to not trade. Directionality bias vs high volatility - there is a difference. One of the reasons why one doesn't trade the news. There is a relationship between bar size and the % success execution. Let's say average bar size is 4. Well, 1/2 of that is 2. Using a target of 2, you need to judge 75%+ probability situations well to maintain profitability (which is what is trained in the lectures). It is the relationship of the 3 variables (probability being the hidden one which is trained through experience).
With respect to targets, and Mack selections, the prime issue is that individuals are making poor choices for their trading opportunities. They are "enticed to move too soon". The lectures refine vision to the very high probability situations, and so the agreement against what Mack trades, as a subset, becomes very high, very quickly. :) Essentially, it almost creates a mechanical system for evaluation. This is important in developing skill, fluency, and competency.
The last portion though relates to the market itself and personality. You will find that 80% of the time, the market is in a trading range. . . . This is critical. It means that most candidate selections will not move very significantly unless a trend is created. So, a portion is taken as a scalp, and opportunity for much more exists as a runner. On trend days, you'll want to "run as far as possible".
Hopefully helpful and good trades to you!