5% - 10% profit per day trading

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how did everyone else do today though?? :)


there was some decent movement today.

Russia said ukraine are not allowing gas through and so gasoline rocketd 7% earlier and that caused this spike in oil,
and then it was a nice slide down again.
:cool:


ALothough i have the no-lead gasolien chart up and its starting to rise up sharply again
 
at the moment this move is very hard to play....

since even though oil has risen so much and is still near the highs and making head n shoulders n other top formations,
gasoline is at the low but starting to rise...


So im gna need to see oil break its session highs and go to 39.86+ before id sell it again.


Although if it gets up there i will probably cry, an dlknow i will puke up again.. :(
 
Quote from spanish89:

Im now gna scale down to £6 per tick, but so sooo much hope that this market crashes down below 30 tomorrow.

spanish, i'm sure you'll bounce back very soon.

good choice to scale down on the trade size too.

i think what's important is to think less of the money, but in terms of following your strategy.
 
Quote from blackjack666:

Feeling left out so bought some oil myself!
Gone up more since I closed but netted myself a rather nice £1700 to start the day :)

As Porph said, that was an EXCELLENT entry.
You've learnt lots from when you first started posting which is nice to see.
 
Quote from spanish89:

how did everyone else do today though?? :)


there was some decent movement today.

Russia said ukraine are not allowing gas through and so gasoline rocketd 7% earlier and that caused this spike in oil,
and then it was a nice slide down again.
:cool:


ALothough i have the no-lead gasolien chart up and its starting to rise up sharply again

I have been demoing for the last few days,, some good days some bad, overall just in the plus.
I guess my main problem is cutting losses quick and letting the profits run, at the moment some losses tend to be bigger than wins, so i need to get that under control. But i tend to do netter in FX and Futures....

Still trying to make oil pay me more if i can do the above...
 
Quote from S2Trader:

But i tend to do netter in FX and Futures....

S

same here. i am yet to find a system that works for me on oil. i am looking at transporting my fx system, but still need to play around with sizing, stops, exits etc.
 
Quote from spanish89:

Im now gna scale down to £6 per tick, but so sooo much hope that this market crashes down below 30 tomorrow.

Surely money / risk management is your problem. £11/tick is equivalent to more than £40k exposure per trade, on base capital of £10k? If you were running at 2% risk per trade you’d only be allowing yourself 18 ticks against you before stopping out at £11, but clearly you’re allowing yourself much more rope than that. Is it prudent to be running risk levels of 25% of your capital? The problem is that you’re undercapitalized, or trading far too many pounds/point (which is the same thing, even if you come down to £6, for your style). If you keep going as you are, no matter how good you are as a trader you will blow up through poor risk management.
 
Quote from etoile:

spanish, i'm sure you'll bounce back very soon.

good choice to scale down on the trade size too.

i think what's important is to think less of the money, but in terms of following your strategy.



Cheers mate.. :)

Ive was lying down thinking about how shit my life has become,
but so then i started thinking about how comes generationg so much money isnt making me happy.

And then i started to think about how if i saw any of the amounts that i see on my trading screen in my actual bank account how i would take the cash and run everytime... lol

But just because its on a trading screen ive turned down £200s £500s on nearly a dialy basis now just because i want more and think market could go higher.. :/


And then i started thinking about why 1day the number '£1,000 profit' suddenly became the 'average' amount i should be earning each day!! :D
And so days i only made £500s i would get so angry n pissed off, even the days i was doing numbers i didnt like such as £729 (i like 8s n 6s but no 7s),
i still kept feelingd own cos i hadnt reahced this '£100' target that somehow had come there.



I remember that the only actualy targets ive ever set myself are £52 per day (that will cover all rent/food/tv/taxis, and all my living costs), and my ultimate dream target was £300 per day.

And so ive decided that im gna go knock this stupid £1000 number out my way and go back to a target of £68 t £86 profit per day! :):)


While i dont mid having lots of cash, i never ever planned to be rich.
Untill last July i had planned to go live in spain n be a fireman or police officer for my career, where id be earning about £1,600 per month after tax.




So ive decided that im gan trade in having all this stupid stress and ambitions to make lots of money,
and just gna go back to trading at £6 per tick, knocking out £86 per day, and then just closing my trading screen and not even thinking about the markets till the next day.
 
Quote from S2Trader:

I have been demoing for the last few days,, some good days some bad, overall just in the plus.
I guess my main problem is cutting losses quick and letting the profits run, at the moment some losses tend to be bigger than wins, so i need to get that under control. But i tend to do netter in FX and Futures....

Still trying to make oil pay me more if i can do the above...

i generally trade longer time frames such as 4h and dailies on fx and on oil i have never looked at lesser than 1h.. however after seeing blackjack's recent chart i looked at 15m charts and there were some good pin bar opportunities today.

shd look at this time frame more often on oil
 

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