|
Norristown, PA
Posts: 1 since Jun 2010
Thanks Given: 0
Thanks Received: 0
|
Hello, I’ve been trading part-time end of day for many years now and am still not profitable. I want to post all my trades publicly for a while to hopefully help me be more careful which trades I select, how I manage them once I am in, and better understand what I’m doing wrong both technically and psychologically. I’ve studied Elliott Wave, Linda Rhaske and recently Al Brooks. I would like to post my trades before I take them and then follow up and post the result, whether it is good or bad.
I trade stocks, forex and futures typically the daily and weekly charts. I will risk 0.5% of my equity on each non stock trade and 0.25% on each stock trade until I start showing some improvement. I typically enter with a stop limit order, cut my loss with a stop order which I may adjust in the direction of the trade, and exit either at a predefined profit target or with a trailing stop. I will post the chart before I take the trade without showing what the instrument is and show where my entry, stop and preliminary target is. I may also post charts as I move my stop if I have time. When the trade is complete I will post the chart along with what the instrument was and where and why I exited and some discussion of what went right or wrong. I trade a lot of different set ups, always ensure that my preliminary target has a reward that is at least as large as my initial risk and sometimes swing trade. I will exit trades quickly if I don’t like the way the trade is going, even on the bar after the entry bar itself. I'll post some charts tomorrow.
|
