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firewalker

Live Indices Trades

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Win /Loss 80%

Risk/Reward Don't meassure

Margin Used variable depending on product and perceived "risk"

£pp, fairly high, but will remain personal.

Trades: Like to earn my money on the initial ABC movement, then go away and look to get another trade or 2 in the pm /evening session.

Stop Loss, ftse 5, dow (variable), Dax & CAC 10

3 Losses in a row, stop trading the day and review the trades to assess what, if any mistakes I made.

Stats: recorded daily on a rolling month basis

Trade in the peace and quiet, no music, no telly, like to concentrate

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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?

 

To FW and and a few others surprise, I took time out to completely review my trading strategy earlier this year, I had traded the same system (with a few tweaks)for many years, it worked well. But a complete change has improved my trading and my enjoyment of trading tremendously, I use less indicators etc than before, simple on the eye and simple to use. :)

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I'm sure we would all agree, the hardest thing in trading is accepting losses, it was my downfall in my early years of trading, even today, with the best will in the world, emotions still try and kick in when I have to accept a loss, anybody care to admit they struggle with it?

 

Trader I know quite often says, "stop losses have made him his money", which in a strange way is probably true, limit losses, maximise winnings.

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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?

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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?

 

Daily targets by points here

 

Stopped out last trade (-5)

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Daily targets by points here

 

I don't do fixed targets anymore, the market is dynamic, so I need to adjust. By aiming at +40 or +50 for example, I've found the market can turn at +39 (leaving me with nothing) or it can go to +200 leaving me with "hey why did I chicken out?"

 

Most of the time I use important S/R levels as targets. Like yesterday: 365'ish...

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I don't do fixed targets anymore, the market is dynamic, so I need to adjust. By aiming at +40 or +50 for example, I've found the market can turn at +39 (leaving me with nothing) or it can go to +200 leaving me with "hey why did I chicken out?"

 

Most of the time I use important S/R levels as targets. Like yesterday: 365'ish...

 

 

Yep, the market should tell you when to get out and in and whilst certain levels may be good to scale out, never limit yourself with ideals, let the market tell you when to exit. IMO.

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Yep, the market should tell you when to get out and in and whilst certain levels may be good to scale out, never limit yourself with ideals, let the market tell you when to exit. IMO.

 

 

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!!...."

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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!!...."

 

Yeah! Know what you mean there... I need extra hands to count the times I said to myself "turn the screen off now". And then you end up with giving back half the profits made or worse :crap:

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Whats happens when FW adn Wasp get to "100% Trader IQ's...."

 

I hear they then share a proportion of their profits with other board members...

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I hope you mean trendline curse :)

 

Just that every trade I post on here seems to be a loser, even though I've been doing OK overall recently, admittedly mainly through making 750pips on oil last week. I even made back 10 of the points lost on the last Dow trade by shorting higher up, but of course that one was over in seconds and wasn't posted!

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