5% - 10% profit per day trading
- Thread starter spanish89
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Quote from spanish89:
nice trade mate..
what size spread do you have??
2 normal CL contracts, often 1 (small fry.)
Never more than 3 for avg in or out.
Bigger stops than targets.
Not liking the weakness in ES or the news today. Conflict ending should be good news but u know what I mean.
Ah, well you did a nice trade earlier mate.
I never evr leave a trade to run on till its more thna what the 'numerical stoploss' was,
since i dont like being in actual risk, and it would be very risky to wait for the market to go that far in my favour,
but also in the samecway it would be extremely unlikely for teh market to go so far against me to go anywhere near my stoploss.
I view my stoploss as my 'trading muscle', and instead focus on my entries, since if you have aenough patience and get the good entries your stoploss is irrelevant.
you do this for a living??
And you still holding usman??
Its down at .26 at the moment, but this should be able to bounce it back to .46 atleast
I never evr leave a trade to run on till its more thna what the 'numerical stoploss' was,
since i dont like being in actual risk, and it would be very risky to wait for the market to go that far in my favour,
but also in the samecway it would be extremely unlikely for teh market to go so far against me to go anywhere near my stoploss.
I view my stoploss as my 'trading muscle', and instead focus on my entries, since if you have aenough patience and get the good entries your stoploss is irrelevant.
you do this for a living??
And you still holding usman??
Its down at .26 at the moment, but this should be able to bounce it back to .46 atleast
I have a day job, Tue-Fri so Monday and eve's are my trade times. Been trading since July when I closed my traditional IRA and moved it to IB to trade myself. I consider the IRA already lost because of Oct/Nov so it helps me out with the psychology aspect. I have a pension and a decent job so I'm playing.
I been watching it and was thinking about where i would have entered my buy...
but then the market didnt play out how i woudl ahve wanted,
and so i would like to ask everyone else about how they would play the following scenario....
the numbers are the head n shoulders formation,
i would have bought where my red dot is drawn,
and target would be where those Xs are.
However when it got to that 2nd spike at 40.80 i would have wanted it to only pullback maybe 15maximum, and then start trending up more...
but when it pullbacked to .40 so fast and sharply i would ahve been extremely scared,
and would have thought it was a flase head n shoulders and it was gna do a flagpole and drop and test 39.26 / 62 to use them to bounce from...
so i would have put mental stop at 40.19 where it was low of the day, (couldnt use automatic stop as min stoploss size is 40ticks),
and then when it rose back above my entry i would have cashed in for just above break even,
and waited for it to fall down to the mid 39s and then buy.
but then the market didnt play out how i woudl ahve wanted,
and so i would like to ask everyone else about how they would play the following scenario....
the numbers are the head n shoulders formation,
i would have bought where my red dot is drawn,
and target would be where those Xs are.
However when it got to that 2nd spike at 40.80 i would have wanted it to only pullback maybe 15maximum, and then start trending up more...
but when it pullbacked to .40 so fast and sharply i would ahve been extremely scared,
and would have thought it was a flase head n shoulders and it was gna do a flagpole and drop and test 39.26 / 62 to use them to bounce from...
so i would have put mental stop at 40.19 where it was low of the day, (couldnt use automatic stop as min stoploss size is 40ticks),
and then when it rose back above my entry i would have cashed in for just above break even,
and waited for it to fall down to the mid 39s and then buy.
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