i.e., $1600 deposit, or $2200, whatever, in account, risking $40 as a rolling total first week, and that as your allowance or discipline.
e.g., trading 0.12 or 1.0->1.2 minilots, maybe in ~3~ 0.04 bursts, moving between martingale, tiny drawdowns, and normal trade, from trend following to buy/sell stops or buy/sell limits or other orders below or above significant economic numbers. Individual trades may have a circuit breaker of 100 pip SL or 60pip, whatever is appropriate.
e.g.,
Mon +$7
Tues -$3
Wed +$2
Thu +$11
Fri +$2, perhaps a larger gain may occur but closing positions before the weekend
WEEK 2
Mon +$37
Tue +$5
Wed +$8
Thu -$1
Fri -$12
Anyone do this kind of short-term take it day by day stuff? You've gotta be at your peak. Circuit breakers are so you're not caught short EURCHF before the SNB puts in a 1.20 floor. In fact, one's trading journal may include, from years of experience, and memory, and know how of how policy makers think--big crosses like "I'm no longer trading EURCHF, this market (Sept 2011), is a go into cash market".
"I remember USDJPY at 116.00, now we're 80.00, and this earthquake tsunami stuff by long term valuations means LONG only when I trade USDJPY".
You may say, I like this market I've got a feel for it, I'm going to trade with 15% instead of 12% of my capital, etc.
Thoughts? I've always traded best when I've approximated this and thought in real dollars, percents, and points, all at once.
e.g., trading 0.12 or 1.0->1.2 minilots, maybe in ~3~ 0.04 bursts, moving between martingale, tiny drawdowns, and normal trade, from trend following to buy/sell stops or buy/sell limits or other orders below or above significant economic numbers. Individual trades may have a circuit breaker of 100 pip SL or 60pip, whatever is appropriate.
e.g.,
Mon +$7
Tues -$3
Wed +$2
Thu +$11
Fri +$2, perhaps a larger gain may occur but closing positions before the weekend
WEEK 2
Mon +$37
Tue +$5
Wed +$8
Thu -$1
Fri -$12
Anyone do this kind of short-term take it day by day stuff? You've gotta be at your peak. Circuit breakers are so you're not caught short EURCHF before the SNB puts in a 1.20 floor. In fact, one's trading journal may include, from years of experience, and memory, and know how of how policy makers think--big crosses like "I'm no longer trading EURCHF, this market (Sept 2011), is a go into cash market".
"I remember USDJPY at 116.00, now we're 80.00, and this earthquake tsunami stuff by long term valuations means LONG only when I trade USDJPY".
You may say, I like this market I've got a feel for it, I'm going to trade with 15% instead of 12% of my capital, etc.
Thoughts? I've always traded best when I've approximated this and thought in real dollars, percents, and points, all at once.