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The Italian Job
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Created: by redratsal Attachments:31

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The Italian Job

  #301 (permalink)
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redratsal View Post
Yep, not a good day but it's part of the package.

Yes, even for a 7-day rolling avg I would say you are still green by quite a bit right?

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  #302 (permalink)
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Yes, even for a 7-day rolling avg I would say you are still green by quite a bit right?

Mike

Right, but it always hurt to eat your cumulated profit, sometimes the UK session can be as aggressive as the US one, need to focus more on PA.

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  #303 (permalink)
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redratsal View Post
Right, but it always hurt to eat your cumulated profit, sometimes the UK session can be as aggressive as the US one, need to focus more on PA.

Well that is why it is important to trade a method you are comfortable with.

Nothing against your method, but this would never work for my personality. I couldn't stand to take that kind of a loss, it would psychologically impact my other trades which is never good. For about two years my r:r has targets bigger than stops on average, and then it comes down to just my win percentage rate.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
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  #304 (permalink)
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Big Mike View Post
Well that is why it is important to trade a method you are comfortable with.

Nothing against your method, but this would never work for my personality. I couldn't stand to take that kind of a loss, it would psychologically impact my other trades which is never good. For about two years my r:r has targets bigger than stops on average, and then it comes down to just my win percentage rate.

Mike


Like you said it's a question of personality and habit, I think many systems can by profitable as long as you keep the will to master them without changing them from time to time, sometimes the road to achieve it might be very long and painful but I guess it's a "must be" process for many of us.


Last edited by redratsal; July 20th, 2011 at 04:30 AM.
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  #305 (permalink)
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First trade of the day CL 1 contract, target on TL +255$
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  #306 (permalink)
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6E long 1 contract, +421$. I decided to move the target above vwap's next R, as the strong increasing gomcd was showing a will to brake the vwap and TL upward.
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  #307 (permalink)
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6E short 2 contrats, target on R +266$
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  #308 (permalink)
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CL short 2 contracts, target on R +251$
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  #309 (permalink)
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6E short 2 contracts, target on S +316$
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The following user says Thank You to redratsal for this post:
 
  #310 (permalink)
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CL short 2 contracts, target on S +252$
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