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Manta, Ecuador
Site Administrator
Developer
Swing Trader
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,443 since Jun 2009
Thanks Given: 33,217
Thanks Received: 101,603
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Here are the poll results where I asked what risk to reward ratio you trade with. It's expressed like risk:reward (ie: stop:target).
This one was pretty evenly split, looks like the majority trade with at least a 1:1 ratio or better. I will admit that I am still trading with a 2:1 ratio, but I am working on my runners which will make that more like a 1:2 ratio. I have a problem with getting out of winning trades too quickly, even for no reason.
[B][COLOR=red][/COLOR][/B]My motto is that I better be able to email my trades to a friend and SHOW him why I got out. If I can't show him why I got out... well, then.. why did I get out??? Probably because I was scared to lose money or give back the profits I already had in the trade.
I like to trade 2 or 3 contracts, with the first target usually 4 ticks, 2nd target can vary around 8 ticks, and the runner to around 12 to 16 ticks on the ES (4 ticks = $50 USD). My initial stop is usually 8 ticks, and I move it to -4 once the first target hits, then to break even once 2nd target hits and let the runner try to go all the way.
Mike
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