Hi,
I am swing trader and doing fine. Have a job, reasonable pay, etc and decided to take a break, forget rat race a bit, and do some trading & other better things in life. Instead of playing my swing trades, will use swing signals to load as many contracts as I can in number of scalps and ride them as far as I can with preset risk level.
My target is 65% profit per months for 3 consecutive months. This is a bit on a high end but that is required level to extend my stay away from rats.
Will add trade explorer soon. I want to make this transparent for me & everyone so I can progress as trader. Yeah, likely will not make and will have to back to work. But one never knows when markets suddenly become generous, so I may get lucky. I will risk $200 per trade. Hoping to generate 3 quality trades per day. My mind only allows 1 trade at the time, so will have to be scalping.
Main inputs in trade decision are news, fundamentals and cycles. My view is that stock markets are in bull, and this presents great risk reward options - only risk on trades. Until one can identify moment just before music WILL stop. That is when you reverse !!!! I may use TA but this is not clarified.
My cut off point is 10 risks from the high of account. 1 risk is defined as amount risked per trade. I will set it to $200. 10 risks is 2000 down therefore I need account balance 3,000 AUD, to allow for margin. I will fund it next week with GoMarkets.
I give myself flexibility to enter larger sizes if I feel strongly. I have another account designed for swing trading that I will use to take outsized bets. I will indicate these.
Will post trade signal. Use limits to enter trade, so will be before time. Then will post chart with comments for convinience of analysing them.
I do not have enough sample of trades to derive good rules so have to guess a bit (swing trader only so far).
My benchmark for each trade will be this system (which can be automated):
1. Once trade in plus 1 risk, move stop to be.
a) if trade does not reach +1 risk and is not stopped in 40 minutes, exit immediately.
2. Take profit at 2 risks profit.
**disregard rules in second post. That is version zero.
My actual number of pips will be compared to above rules.
I will now fasten my seatbelt.
I am swing trader and doing fine. Have a job, reasonable pay, etc and decided to take a break, forget rat race a bit, and do some trading & other better things in life. Instead of playing my swing trades, will use swing signals to load as many contracts as I can in number of scalps and ride them as far as I can with preset risk level.
My target is 65% profit per months for 3 consecutive months. This is a bit on a high end but that is required level to extend my stay away from rats.
Will add trade explorer soon. I want to make this transparent for me & everyone so I can progress as trader. Yeah, likely will not make and will have to back to work. But one never knows when markets suddenly become generous, so I may get lucky. I will risk $200 per trade. Hoping to generate 3 quality trades per day. My mind only allows 1 trade at the time, so will have to be scalping.
Main inputs in trade decision are news, fundamentals and cycles. My view is that stock markets are in bull, and this presents great risk reward options - only risk on trades. Until one can identify moment just before music WILL stop. That is when you reverse !!!! I may use TA but this is not clarified.
My cut off point is 10 risks from the high of account. 1 risk is defined as amount risked per trade. I will set it to $200. 10 risks is 2000 down therefore I need account balance 3,000 AUD, to allow for margin. I will fund it next week with GoMarkets.
I give myself flexibility to enter larger sizes if I feel strongly. I have another account designed for swing trading that I will use to take outsized bets. I will indicate these.
Will post trade signal. Use limits to enter trade, so will be before time. Then will post chart with comments for convinience of analysing them.
I do not have enough sample of trades to derive good rules so have to guess a bit (swing trader only so far).
My benchmark for each trade will be this system (which can be automated):
1. Once trade in plus 1 risk, move stop to be.
a) if trade does not reach +1 risk and is not stopped in 40 minutes, exit immediately.
2. Take profit at 2 risks profit.
**disregard rules in second post. That is version zero.
My actual number of pips will be compared to above rules.
I will now fasten my seatbelt.