1% a day and MM

at 106^24. will add it back to my other account as an entry comes up. +23 ticks, will get goal after loss earlier after commissions. Will double check again later, but I show + 654.95 net. Brings total over 18000, so will add a contract tomorrow and goal up to $180.
 
Quote from tango29:

..... Brings total over 18000, so will add a contract tomorrow and goal up to $180.
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tango, first of all, thanks for posting.

You started with 2 contracts and a daily goal of $150 (based on a $15k account).

Now you're at $18k, and your trying for a daily goal of $180 but will be using 4 contracts.

So now you'll be risking twice as much but only shooting for 20% more?

just trying to follow your logic here.....

3dog
 
Whats that? :) Kidding, That goes along with other parts of the risk reward problem that pops up for each trade. If I just take goal I am in reality have probably intially risked 2 times more on the trade. Example, a bond trade for me rarely has less than a 4 tick intial stop, yet I can take goal and be done with 2 ticks. What happens if I get whacked right after entry!? I am have to dig out of a hole. On the other hand days like today I made well past goal, and I could say this offsets that. In that light I could say that these days will also somewhat compensate for the risk you point out. In addition to the 1% a day the goal is to also add contracts and I am willing to accept the risk/reward conflicts to keep adding. I haven't had time to figure how I am going to alter the addins as of yet, and for now will stick with next add at $22000, and the 6th at $30,000. This slowly brings the risk/ reward around from what you point out. Since I haven't taken a beating yet, I am going to keep going.
Thanks
 
You are doing great. I think we all struggle with risk/reward ratio. I only trade 2 contracts with 20+k and am struggeling with deciding where to add the next contract. My win ratio is not as high as yours, so will just stay with 2 contracts. Also trade a lot on the DAX and stops can get blown prety quick, so that tempers my thinking.
Thanks for your posts.:)
 
winners in bonds and the mini sp all ready this morning. Was sitting here and did too much thinking. Further proof that thinking is bad!
 
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