@ tech/a
I will have a look to find the figures, but like I said i am doing for 10 years and I know it works.
Please read with more attention. Without a return of over 1.2 R
My trading starts with a test position and some positions will work out and I will add up. These are the positions which makes huge R multiples but of course I dont have them every day.
Do you trade for a living? Please tell me a little bit more I am curious.
I am calculating with brokerage fees I exactly know how important it is.
I'm sorry I was un aware that you had to meet your reply criteria to be involved in discussion.
No I don't trade for a living----dont have to----don't wish to----infact couldnt think of anything worse.
Successful trading is as boring as watching paint dry!!!
I use it as one of my passive income streams.
Oh and I'll be sure to " pay attention "
Well, weird thread but I might join in anyways. I want to trade for a living, but have not been sucessful so far. My new approach is to follow very closley only a couple of stocks and get to know them intimately. I feel you can reasonably get to know the way a stock moves if you spend a LOT of time observing it. You don't need many stocks for trading, if you can trade one well it's all you need. So I am trading only AUT for now because I feel I know this stock very well. My plan is to take small profits often where as I used to hold for months to try and make more profit. This approach has mostly only frustrated me as the SP wandered up and down, up and down. My last trade on AUT saw a $730 profit in 5 days, in at $3.41 and out at $3.61. I was tempted to hold for more but will see how this shorter term approach goes. Been trying for 7 years to turn pro, maybe i should give up ? Nah, It's a whole lotta fun.
Hi rmt. Thanks for posting the charts. what do you mean by "moving days"?
Update for today
You must have a very large account to earn yourself a living on this one...
I also think that you are at the beginning of your trading journey. This journey starts when you accept full responsibility for your trading results. This means keeping detailed trading journals (or records). If you haven't got records then your trading is better described as a hobby.
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I've shown some very basic stats on your closed trades. I think you should have these stats over the past 10 years if you were really trading in a professional manner. I also think you should know where you make the most profit, stocks or futures, long or short. You should also keep a record of the trade setups so you know which ones work best for you. What are the best conditions for your break-out style?
I also think you need to manage the size of your trade risk and portfolio heat better. Portfolio heat is the total amount of risk you are comfortable with in the current market conditions. I see that you are starting some short trades using 0.25% of risk. Your trade risk varies from 0.25 - 1% (1.5%). This seems very arbitrary and will lead to inconsistent results. Profits from these smaller risk trades will not be worth the effort. I know you will add to these trades if proven correct, but even then you won't get proper reward for the risk. Are these stocks you've shorted the weakest stocks in the weakest sector?
Do you use an index filter to help manage your portfolio heat?
For example:
When the index is up you are totally long (with a 5% limit = 10 trades risking 0.5%/ T or 5 trades risking 1%/T)
When the index is down you are fully short and when the index trend is unclear you have a mixture of longs and shorts.
You decide how much risk is comfortable based on what you see in the charts and your own risk tolerance.
I hope you don't think of us as overly critical. We expect more from a 10 yr trading veteran.
@ burglar I am from the UAE and that makes me not an American. Not even close. ...
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