Range Market Scalping- Help with ATR-Based Stop Loss and Profit Target
Posted
3 months ago
by Bud Basu
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Hi Team, I’m currently trialing your strategy (Range Market Scalping), and after watching the video you provided, I’ve run into some issues that I need help understanding. I’m trading MNQ on a 5-minute chart, and I’ve noticed that the stop loss when using the ATR-based stop loss option is placed much farther away than I expected.
For example, during one of my trades on Friday, the ATR for MNQ was around 20 at the time of entry, but the stop loss was set much farther away. This has been resulting in large losses, while the profit target remains quite small in comparison. I’ve attached a screenshot from Friday to give you a clearer idea of what I’m seeing. Could you kindly help me understand why the stop loss is so far away when I select ATR-based stop loss? Is there a setting I might have missed, or a way to adjust the stop loss behavior to better reflect the ATR at the time of trade entry? I have not changed the defaults: ATR period= 5 and Multiplier= 1.
I appreciate your help in resolving this and look forward to your suggestions on how to correct the issue.
Thanks for your notes. I would suggest to load more data on your chart and try different settings for ATR and multiplier values. Defaults are not suitable for all, as this is just a default value. Please use market replay data to optimize your settings before you use it on live account.
Hi Team, I’m currently trialing your strategy (Range Market Scalping), and after watching the video you provided, I’ve run into some issues that I need help understanding. I’m trading MNQ on a 5-minute chart, and I’ve noticed that the stop loss when using the ATR-based stop loss option is placed much farther away than I expected.
For example, during one of my trades on Friday, the ATR for MNQ was around 20 at the time of entry, but the stop loss was set much farther away. This has been resulting in large losses, while the profit target remains quite small in comparison. I’ve attached a screenshot from Friday to give you a clearer idea of what I’m seeing. Could you kindly help me understand why the stop loss is so far away when I select ATR-based stop loss? Is there a setting I might have missed, or a way to adjust the stop loss behavior to better reflect the ATR at the time of trade entry? I have not changed the defaults: ATR period= 5 and Multiplier= 1.
I appreciate your help in resolving this and look forward to your suggestions on how to correct the issue.
Thanks in advance!
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Support Agent posted 3 months ago
Thanks for your notes. I would suggest to load more data on your chart and try different settings for ATR and multiplier values. Defaults are not suitable for all, as this is just a default value. Please use market replay data to optimize your settings before you use it on live account.
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