Today I'll write about a revelation I had a few days ago, the best month in my trading carrier yet was October 07, and the way it happened is making about 1.5R a day, and that is how much I earn in avarage a per winning day, even thought I'd like it to be more than that, when I try to do so, I just end up messing it all up and either from 4R I get down to 1R, or I go on to losing money.
So my new plan is all about K.I.S.S (Keep it simple, stupid):
I'll just get to my trading day, after my initial trade, I'll put a stop loss, as always, if the trade goes against me, I'll call it a day, if the trade goes my way, I'll take the money, and put another trade, lets say now I'm +1.5R on the day, or even on the border of +1R of the day, I'll put on another trade, now I can lose twice as much (since it will result me to be -1R), if I fail, I finish for the day, if not, good, I've earned money, the key change of this method is, that I don't risk more than 1R a day, which means I can finish the day after losing one trade (not two, since it's too much for futures).
Have a great week!
Ahh and on a personal note, I've just recieved a brand new Mazda 3 phanton blue mica colour, just like this:
I'm so excited, having a new car (replacing the Hyundai getz) is a bless.
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1 comment:
I've been thinking about something similar. It seems I can make about 2 to 2.5 units on an average day without too much difficulty. I know this sounds vague but this has been true for quite a while. Maybe this is just the profit available with what I do, since I do only but one thing most days. One strategy I am doing for the time being is, trading onward after hitting 2 units but using 1/4 my normal risk, this way even with 4 losing trades in a row I can only give back half my gains.
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