Tiki Trader Trades
Since I have for quite a while now, used the J16 thread and several people's journals, as my proxy journal... I guess it is time to start my own journal. I have gone back and forth over doing this for a very long time... lots of pros and cons... but I will give it a try...
I don't make tons of trades, though I am sure I still really make too many trades.
How I Trade
All discretionary trades.
As much as possible I will use Price Action such as found in J16 thread.
I also use Rob Bookers Arizona Rules, but usually for divergence trades.
Impulse trades... ( which of coarse I usually lose !! )
I currently usually risk 1% of my account on any given trade. I plan to up that to 2% in 2008 on well planned trades. Impulse trades will be 1% or less... ( I know better !! )
Consider me a chart trader or technical trader.... I have only a passing interest in fundamental stuff, and am not nearly smart enough to even have a chance to win with fundamentals...
Indicators I Use
You will virtually always see the 62ema (red), 200ema (white), and the 800 SMA (blue) on my charts... They are the principle indicators Rob Booker uses... I happen to like them... whenever they are lined up in Red White and Blue, I consider the market trending... if they are not lined up that way, market is ranging. I often also use those indicators as my profit targets. These indicators will be on my charts even if I am trading with just Price Action.
If I am trading Arizona Rules, you will also see slow stoch with settings of 30,10,10 and MACD with settings of 30,65,23 ... these settings are quite different than default settings... they help to get in on bigger moves of price on divergence trades...
When and Why I Trade
I will usually be trading on daily time frames... since I generally work another job, it is difficult for me to look at lower times frames... I have tried, but generally fail, especially on hourly time frame... I like the idea of the 4 hour time frame, but it is not so easy as one would think... I admit that I cannot yet do it, though I would like to since it does somewhat fit me time wise. There is a lot of different noise on 4hr... I generally fail to analyse it correctly.
I do belive that I have to trade profitably on daily or higher time frames, before I can trade lower time frames...
I will list all my trades here as much as possible, For sure the planned trades. You may not see all the impluse trades...
At the first of the year in 2008, I will post a starting balance... after that I will continuously post my % + or - baseed on the years starting balance... I doubt I will post pips gained or lost, or an actual balance most of the time...
Currently, for this year of 2007 I am down about 4% from the years starting balance.
My Goals for 2008
I feel I have finally reached a point where I may have a chance to be profitable... another reason for keeping the journal...
I will be aiming for +8% per month based upon the years starting balance. This will more or less double my money by the end of the year if I can do it.
But since I will risk 2% on my planned trades, as my balance grows ( hopefully ), I will actually have to trade less to accomplish the 8% in a month.
OK, so lets go... my first trade in the next post...
Since I have for quite a while now, used the J16 thread and several people's journals, as my proxy journal... I guess it is time to start my own journal. I have gone back and forth over doing this for a very long time... lots of pros and cons... but I will give it a try...
I don't make tons of trades, though I am sure I still really make too many trades.
How I Trade
All discretionary trades.
As much as possible I will use Price Action such as found in J16 thread.
I also use Rob Bookers Arizona Rules, but usually for divergence trades.
Impulse trades... ( which of coarse I usually lose !! )
I currently usually risk 1% of my account on any given trade. I plan to up that to 2% in 2008 on well planned trades. Impulse trades will be 1% or less... ( I know better !! )
Consider me a chart trader or technical trader.... I have only a passing interest in fundamental stuff, and am not nearly smart enough to even have a chance to win with fundamentals...
Indicators I Use
You will virtually always see the 62ema (red), 200ema (white), and the 800 SMA (blue) on my charts... They are the principle indicators Rob Booker uses... I happen to like them... whenever they are lined up in Red White and Blue, I consider the market trending... if they are not lined up that way, market is ranging. I often also use those indicators as my profit targets. These indicators will be on my charts even if I am trading with just Price Action.
If I am trading Arizona Rules, you will also see slow stoch with settings of 30,10,10 and MACD with settings of 30,65,23 ... these settings are quite different than default settings... they help to get in on bigger moves of price on divergence trades...
When and Why I Trade
I will usually be trading on daily time frames... since I generally work another job, it is difficult for me to look at lower times frames... I have tried, but generally fail, especially on hourly time frame... I like the idea of the 4 hour time frame, but it is not so easy as one would think... I admit that I cannot yet do it, though I would like to since it does somewhat fit me time wise. There is a lot of different noise on 4hr... I generally fail to analyse it correctly.
I do belive that I have to trade profitably on daily or higher time frames, before I can trade lower time frames...
I will list all my trades here as much as possible, For sure the planned trades. You may not see all the impluse trades...
At the first of the year in 2008, I will post a starting balance... after that I will continuously post my % + or - baseed on the years starting balance... I doubt I will post pips gained or lost, or an actual balance most of the time...
Currently, for this year of 2007 I am down about 4% from the years starting balance.
My Goals for 2008
I feel I have finally reached a point where I may have a chance to be profitable... another reason for keeping the journal...
I will be aiming for +8% per month based upon the years starting balance. This will more or less double my money by the end of the year if I can do it.
But since I will risk 2% on my planned trades, as my balance grows ( hopefully ), I will actually have to trade less to accomplish the 8% in a month.
OK, so lets go... my first trade in the next post...
Attached File(s)
Now he's making me wonder... but then again, his trade ideas have not panned out so well lately... and I got to do what I think right for a change... well, anyway decide on that later tonight...
