Mr Subliminal's Remote Trading Journal

I prefer leaving the question of whether today's gap down continues trending south to the folks that understand these markets, and therefore took my 3 trades and ran.

+2.25 pts / 3 RT / 2 ct lots
 

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I like the way you think. SubDude!

There are only a couple ways to skin this cat, and you are on to one of them. You have had a very good string of successes - I hope that you are pleased.

I took the liberty of downloading your trading plan, and have been working on modifying it to suit my own needs. In all the time I have been at this, I never got around to actually putting it all down on paper. Thanx for the inspiration, and continued good trading!
 
Rigel and tampa thanks, but as I always say, early days yet.

tampa, by all means be inspired and use my trading plan. I just feel you could find better traders to model yourself on :p. (Hope he read all the disclaimers, starting from the very first post on this thread.)
 
Obviously there are better traders to draw inspiration from (if only I had not lost Hit Man's new address), but since I usually manage to pull a half point or so more from the market than you do, it helps me stay on top of my game.
 
Congrats for this 9 consecutive positive days !

If you don't mind, i've got a question about your stop.

You have a "small winner/high %" strategy.
However, I noticed that you took some (rare) losses >0.75.

How far do you let you trade going to the loss side ?
Do you try to keep your stop about the same as your profit (0.75) ?
May be you don't mind having bigger losses as your % is high ?
 
As per my trading plan, my stops are discretionary with a maximum loss of 3 points and a minimum profit of 0.5 points. This means that sometimes I will get out with, say, a 1.75 point loss ie. I do not necessarily wait till the full 3 points. And conversely, depending on the situation, I will increase the profit target from 0.5 or the current 0.75 points, though not as frequently as I would like. This juggling around to find the right mix of risk:reward ratio and success rate is an evolutionary process which is both trader and market dependent.
 
Thank you for answering.
I asked you this because I used to have such a plan but I failed to keep my % high enough.
I came back to a more "classic" plan : % = 50 and P/L ratio >2.

No plan is better than another. Find those that works (for U) :p
 
Damn Subbie, 10 winning days in a row - if I am not mistaken. WOW!

The Princes has to give into your desires now!

(Good work, congratulations.)
 
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