1% a day and MM

looking for a buy, but with indexes going up and bond falling back I changed to sell bias for bonds. To me ^26 was a support area, and I sold it after it had pulled bakc up thru it and was coming back down thru it. My risk was ^28- ^31 area. 1st target would have been ^17, the overnight low(at least what I have for it). If I didn't take this sell I would have had a chance to sell again thru ^22 going thru the bottom of the news spike low.
Happy Turkey day to all, and God Bless our soldiers.
 
on today. Could have sold the bond and had goal, but was looking at the ads, and am off to spend. Hopefully won't need to double the goal after todays shopping.
 
How does the market and "YOUR GOAL" have anything to do with each other?

Does "YOUR GOAL" help you increase contracts only? Or does it cause you to change your style of discretionary trading and hold longer as your goal pyramids? Where will this lead? Do you hold overnight?

I can appreciate what you said earlier about your plateus and wanting to overcome the fear of increasing contracts. The "1% increase daily goal" will cause you to change your style of discretionary trading perhaps. I do not know. You seem to be reaching your daily goal and trading well.

I just wanted to put in my 2 cents........be careful.


Michael B.
 
welcome. Good questions, some of which I have spent somm time trying to answer, but pathetically don't have a definite answer too. No holding overnight for this plan. As I see how this plays out it may very well change my discretionary trading, but at this point I am keeping the 2 seperate. At the point where this is done for the day, or I have another trade to put on I switch to my regular account. I enjoy trading, so to say I would stop for the day when I hit a goal probably isn't in the cards, but it is a thought in the back of the head. At some point do I reach a dollar amount where its not the 1% that is important, but hitting x dollars per day? I guess a comparison to be made could be where is my other trading leading. Is it worth the time and effort in comparison to having a goal and stopping for a day. I can easily look up my account balance when I started this and every month or 2 months make the comparison. I still maintain that I will have a losing streak in the goal account. Not to be negative, but realistic. I have been doing well, especially in light of being able to get goal on the 1st trade so often, but the entries are the same I use all day, and they don't work so neatly all day everyday, so I know losses are coming. Then I get to see what quandries I come up against at that point. I also have been thinking about the money mngt lately and if I need to change the progressions. The way I was intially thinking wouldn't get me to 10 contract until $270,000. I have always taken a maximum excursion possibility as a reasonable amount to have in reserve per contract. Right now its around $5000/ct, so do I need to hold $27000/ct because I am trading 10? I am leaning towards no. I may alter it to bring it up around $100000. Why there, I'm not sure but there is that nagging in my head that you need a bigger allowance with more contracts, but at the same time, why? As long as the market is liquid enough to get fills on entries and exits why should I increase the reserve? The reserve is for the worse case, ie a 9/11 or something along those lines.
Thanks for the rambling space!
 
right away this morning. See what happens. If it gets to be market open the trades will probably be posted well after the fact. I promise to sell the high and buy the low if that happens. :D Hopefully back soon with goal!
 
You must log in or register to reply here.
Back
Top