Foale

Small long Ftse at 5942 Aim +10-15 before the NY open Out 54 as planned... +12 overshot the time by 7 mins...

Small long Ftse at 5942 Aim +10-15 before the NY open

To be clear I was talking about daily targets...not individual trade targets....but I get your point re dynamic....rather than fixed targets... I have a daily limit...as I am ok at achieving a fixed...target but also extremely good at giving it back and sometimes more.....so its more like " For gods sake turn the machine off NOW!!...."

Cant drag myself out today.... I tend to use points when setting daily/weekly targets....but ££/ or % return to stop for the day and say "Stop. Dont lose it" Do others use similar...or have no fixed daily targets...and those that do have...what do you do when you achive it?

ok last thing from me this am.... Question to all.. In the last year or so... What would you say is the single best thing you have done to improve your trading performance? For me things have improved sonce I have got some synergy between what is it possible for me to do given my time constraints...and what I should leave... ..ie structuring my trading day, understanding the likely daily trading volatility and trade characteristics/nuances for each product...and getting that to correleate closely with what I am looking at on my screen...from time frames, to indicators, decluttering my screens...and highlighting what I should be looking at/ and minimising less important things ..again for each product, Generally not trying to do to much.. so time away from the screen......lots of time flat...trying not to trade the low volatility/ low volume times...to save my trading stamina... Also less trades in times of the day that have historically tripped me up...or that have a low return per bum on seat time lol

W/L > around 80%, Risk/reward >varies enormously , so many depends on varibles Average number of trades per day > 10 to 20 over 4 instruments ftse/dax/commod/dow How do you measure/ monitor profit? > agree absolute profits don't mean anything... so I look at % of my account

"When I'm in a trade and have a portion scaled out and my stop moved to breakeven, I do tend to relax more. ....." FW "When I am 100% out and have a profit in the account ...I tend to relax more" Foale

Out long Dax from 22 at 30..... and yes would agree that "brave trade" might be a euphamism for "foolish trade "...I was lucky.. Totally flat now...going out now..so I dont get upset when Oil crashes to $120....

As for economic reports - I look at the calendar to know when there will be announcements - but I gave up analysing what they 'meant' years ago. Agree with you totally there... re size..all I would say is... £1pp to 10 lots would probably contain the trades of 95% of traders on here....imo... but the 25 lot trader feel free to disagree.. lol

I think one of the reasons is that it takes away the "level playing field" Cos if you know that someone is doing £50pp or 5 contracts and you are doing 5PP or 1 contract... its might 1...be too daunting/ embarrassing to post...even now there are those that dont post and mostly just read...this would make it worse 2...you might be affected my by the larger traders comments etc and ignore the 1pp poster 3...it is noone elses business More interesting questions might be... What are peoples average Win/ Loss ratio ? What is the maximum margin used over all your trades at once ? What risk reward ratio if any, do peple go for ? Average number of trades per day ? What do you do if you take a big loss one day...have a break? trade more? How do you measure/ monitor profit? Daily, weekly, against you a/c balance, as a fixed %....... or an absolute number All this would be make a more interesting debate for me...

Impatience and greed....the simple answer... I just felt the fall was enough and volume was increasing... However have to go out soon...so looking for an exit... Out Ftse 62 up 5 Dax was looking better now have to wait... Of course the "easy " trade was Short the open.... I was also a bit distracted with my Oil short this am...

Long dax 6913 Long Ftse 5958

I shoudl have been more patient with my early short Dax at 80....now 45...which I closed for a tiny profit... :crap:

Hi FW its Crude Oil Jul 08.... I have just closed at $123.54 up 208 I am still bearish and my target was 123.09 but that looks too far, ahead of the 3:30 crude figures that are its biggest mover.. but as I will be in the school playground then...thought I would cash in my chips.. might come back to $118 but thats life...

I still have this SHORT...thankfully tiny position.. been to $129 !! Hopefully some downside now...

Long Dax 6957 stop 6942 out 61 +4 Dow 1 point off my stop...so far... out 75 -1 could be more downside yet

Long Dow 12376 Stop 12358

WASP he usually wakes up about now... Toast in hand...and makes that 100+ pre market call.. LOL any moment now...........

Dax has a high volume bar...on the 5min..4 bars back... I find that it often occurs before the peak...as then there is a "blow off top" before a more sibstantial decline.. Lets see

Having missed the Ftse LONG entry long under 6000 sitting it out for a bit...

I see 4 names at the bottom here including mine..anyone like to volunteer what they think is going on today...? Finding it very confusing.. Ftse wanting to fall back...but Dow over 12500 propping it up perhaps?

CMC have a pricing problem...so they say..resulting in slow fills....if anyone else using them...I have gone flat now..

there does feel something odd with the Dax this am..volume seems higher...than normal

Closed 6982

No KOPSI trades this am...I look forward to seeing those charts...