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Zurich, Switzerland
Posts: 2 since Jan 2020
Thanks Given: 16
Thanks Received: 1
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Dear fellow traders
This is the start of a new project. I’ve been trying different approaches to trading since 2013, always with long breaks in between – usually after losing some money (but never blowing up).
In December 2020 I read “The Art and Science of Technical Analysis” by Adam Grimes. This book resonated with me and gave me the motivation to try trading again. I did 300 trades, mostly trading pullbacks on the 5-min MNQ with 1 contract. I ended up with an expectancy of 0.2R per trade and a 70% win rate.
This gave me the confidence to size up. However, as soon as I was trading, I ended up doing “momentum trades” rather than wait for the perfect setup. This went well, until it didn’t. After making and losing some money, I now make a hard cut and restart.
My goal is to document some trades and to have some accountability in my trading. I don't need to make a living from the markets since I have a secure and well-paid job as a teacher (yes, that's possible in Switzerland). However, my financial goal is to double my salary with trading.
- Daily goal: 2R
- Risk per trade: 1R
- TP per trade: 1R
- Stop: trailing 2R per day
- R = 1% of account value
- Max. trades per day: 6
Example of a valid trade with a positive outcome:
Today I took 4 valid pullback trades: 2 W, 1 scratch, 1 L. Result: +1R
I also took some momentum trades (aka gambling), for a 1R result. I have to stop these though.
Overall: +2R on my first day. Stupid to have taken the momentum trades, but happy with the outcome overall.
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