My trading strategy

Cr8 pay no attention to mr fedex (aka as overnight) nor jj90 (aka jumping jeepers 90). Proceed forward. You said you would share. I like a man of his word. So far your plan falls within the world of possibility. Traders do not, i repeat DO NOT understand the power of compounding that short term day trading gives one over position trading. So proceed fearlessly...fly into the storm...."damn the torpedoes full speed ahead."
 
This is a standard road sign in Texas. Hence my question about you living in Texas. LOL

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cr8or said:
1. The Plan

Trading is a business if you trade for a living and it needs to be treated that way. Since every business needs a Business Plan so does Trading. Random trading, catching good or bad ones is no way to become consistent and therefor leads to loss, sooner rather than later.

This first part is about having a strong, straight forward plan and keeping a journal to be aware of your trading progress. I tend to keep both on one sheet so I can see where I am according to plan.

The purpose of the plan is to set a goal and do what needs to be done to reach it. However, keep it real and rational, one step at the time. Once the goal you set has been reached, make a new plan and new goal, every time pushing you to achieve more.

I’ll give an example of a plan I’ve used. The starting balance was $10,000.00 but you can use whatever you want, the percentage is important. You’ll see that making 100% on your balance in a month time is very possible and more important – it is realistic and achievable. Certainly, your plan needs to meet your risk appetite.

A very simple Excel sheet will do the job with all relevant columns in the header. You can add more columns with more data but this is sufficient for me.
More...

A quote comes to mind..."Well...you won't have to say...I shoveled $hit in Louisiana."...

Trivia...who said it? Play fair...don't Google it! :sneaky:
 
cr8or said:
This first part is about having a strong, straight forward plan and keeping a journal to be aware of your trading progress. I tend to keep both on one sheet so I can see where I am according to plan.
More...
Obviously, you haven't read what I wrote. This is a plan of making profits "over X-perod of time", not a plan for 20 years.
This thread is in regard of the topic how to turn $1k into $100k in a year or less, remember? Good, you mentioned losses and costs. My costs doing this were spread and commission, no swap since it was day trading. I was keeping my losses small, will be explained later.
I know many traders being in this business much longer than myself, tend to belittle my approach and I understand why. But, please, keep an open mind, you may find something out of all this to be useful.
Case in point, let me present the whole strategy and you are more than welcome to criticize after you have the whole picture.
BTW, I traded this strategy with REAL money, so please no "try this for real" attitude.

Cheers
 
RAMOUTAR said:
A quote comes to mind..."Well...you won't have to say...I shoveled $hit in Louisiana."...

Trivia...who said it? Play fair...don't Google it! :sneaky:
More...
I'll remark as quote next time and put a footnote. Thanx.
 
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