Trading Daily & 4 Hour Charts Using Extremely Simplified Money Management Technique

[G-Boa]

missing one or two things of interest:

account balance
amount per trade
is the amount per trade constant or is it priced off account balance (is this part of your money management technique??)

and i just wanna clarify: if the trade goes to your stop you plan to exit while putting on a trade in reverse??

nice journal....have fun and make money!!

 

[JSSPMK]

Quote from G-Boa:

missing one or two things of interest:

account balance
amount per trade
is the amount per trade constant or is it priced off account balance (is this part of your money management technique??)

and i just wanna clarify: if the trade goes to your stop you plan to exit while putting on a trade in reverse??

nice journal....have fun and make money!!

AB: I will allocate $10k to this account to allow for 100 losing trades + slippage + commission + platform fees

APT: 1 lot trades with no deviation (I don't want to get killed)

STOPS: If stopped at -10 there will be no reverse, reverse only takes place when daily chart puts in an opposite pattern, which normally takes at least a few days. A re-entry will happen when price returns to initial level ie 1st trade Long 12000, stopped 11990, 2nd trade Long 12000, etc


TY!

 

[G-Boa]

cool, what market you trading, what product??

 

[JSSPMK]

Quote from G-Boa:

cool, what market you trading, what product??

YM

 

[G-Boa]

so your initial margin is $3,125 per contract...

so, how much contract does $10,000 account balance buy you??

 

[JSSPMK]

Quote from G-Boa:

so your initial margin is $3,125 per contract...

so, how much contract does $10,000 account balance buy you??

Overnight margin is about $3,500 as far as I know, I don't quite follow what you're trying to establish

 

[G-Boa]

sorry, watching this oil thing on CNBC...

i haven't traded YM - what margin are you trading with....how much $$$ to go long 1 contract??

 

[JSSPMK]

Quote from G-Boa:

sorry, watching this oil thing on CNBC...

i haven't traded YM - what margin are you trading with....how much $$$ to go long 1 contract??

It depends on your broker for RTH, but sinse there will be overnight holding periods involved there will be a full allocation of initial overnight requirement of $3502 per 1 lot, maximum loss per trade is limited to -$50 Gross providing fills don't start slipping out of control

 

[shortie]

I presume this system has been backtested. What are the backtest results?

 

[G-Boa]

Quote from JSSPMK:

It depends on your broker for RTH, but sinse there will be overnight holding periods involved there will be a full allocation of initial overnight requirement of $3502 per 1 lot, maximum loss per trade is limited to -$50 Gross providing fills don't start slipping out of control

ok, i reread, you're trading 1 lot at a time with a 10-point stop.

let us know how you do tomorrow