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Josh - thanks for the recent posts about your trading both good and bad.....but lets focus on the good.
After your monster 300+tic miniHSI day (I've never been close to that level) I've had a think about my trading and maybe I could do things better and the one change I've made (touch wood it continues well) is to increase my targets/Stploss levels and I'm happy to report I've had my best week ever so far with 75% of days over 100+tics....(fingers crossed for Friday as these are normally my worst days now) . I do get a bit twitchy when some gains get close to the larger target levels but i'm working on my patience more.
I used to think 100tics/day was really hard to make but it's been easier than I expected....(so far)..
There's that balance to reach between taking what's there, and letting the market pay you for taking risk, and it's a fine line... Last night I took an opening trade for 100 ticks, then another for 60, and then got a bit greedy, not willing to take 30 ticks when it was on the table multiple times (and as such took some losses). Keeping an objective eye is so critical but tricky sometimes.
I was already going to start a thread on this ('comfort level with p/l') but you have spurred me to actually do it with the above.
I'm very encouraged by your trading above -- I've had some of my most humbling days after some of my best days, so I am hoping that you keep it light and tight today and end the week super green!
Man, how many times LOL... fortunately I've gotten to the point where I will always take some off with a tight trail or target and this has really helped the bottom line. Sometimes price continues on and we can take advantage, other times it will reverse and worst case I am out with a couple BE+x, can always get back in. Maintaining that objectivity while in the trade is the toughest part.
23-Mar-20 +108tics - was down at the start and battled back.
24-Mar-20 +135tics - 5/6 winners
25-Mar-20 +69tics - 4/5 winners
26-Mar-20 +133tics - 3/3
27-Mar-20 +25tics - 4/6 winners - but poor start - brutal loss on first trade - instant reversal and stop-out. Signal bar was above average. Ran out of time as I had to take the wife to lunch - Friday ritual. Lovely trend UP after I switched it off for lunch...argghh!!
Learned this week with some inspiration from Josh to set bigger targets and be more patient on my trades.....maybe a little bit of the extra tics is from the higher volatility but either way I'll take it.
"Yes" is the official answer...I'm assuming you are as well ?
On Friday I tried calling our favourite Indian place to order takeaway......pre-recorded message says there open! - But unable to book online so we hop in the car to go to the place directly-->>closed
Then head to our back-up Vietnamese place at the Gabba.....they are doing takeaway only...and the owner confides they may close next week at this rate - very sad...but if they go down then we are heading for a depression as they are the busiest place in the area for takeaway...if they shut there will be a lot of hungry folks in that area as most young-ones don't cook?
Just got back from the usual Saturday Toowong Village shop - foodcourt chairs removed - takeway only....wifes' cooking burgers at home now....it's a $hit-show.....the economic damage far outweighs the health risks in my opinion(unless your older than 65) .....the unemployment rate is rocketing -UP by the minute - the govt will have no option but to bail-out everyone then we're stuck with a mountain of debt - where does it end - I cant see a light at the end of the tunnel at the moment...I've liquidated everything other than my SMSF which is run by a long-term trend following strategy.....but I cant access for 10yrs so I just keep taking the signals - it's been interesting over the last month as it liquidated everything except COL & FPH - then reloaded the portfolio and bought the lows last Monday as everyone was panicking. - I would never have done that myself
Stay safe Steve and hope you and your family are well..
For four weeks we only have essential services that are required for the health and safety of our citizens.
So basically only supermarkets, corner diaries, and petrol stations are where you can buy things. No cafes, pubs, restaurants ,butchers, fruit & vegie shops, bakeries - they are all closed. We have to stay home and are allowed out within a 1-2 km radius of our home for a run or walk or cycle - supposed to be maximum once per day. No swimming, surfing or other water activities, nor tramping or hunting. You should only use your car to get to the supermarket or for medical treatment (unless you are an essential worker going to/from work). We have to stay at the house we were at on the night this started and with those same people - so we can not mix socially (must stay in our own bubble). Libraries, gyms, pools, public attractions are all closed. Public transport is only for essential workers. You cannot travel to your holiday home (if you have one).
Hope you and your family stay safe as well.
PS: should also have said: no takeaways or prepared food deliveries. Only uncooked food ingredients can be delivered - like 'My Food Bag'.
Prediction is very difficult, especially about the future - Niels Bohr, Danish Physicist
WOW - honestly this will be the next stage for Oz if the infection numbers continue to rise and the incompetent NSW government continues to let infected travellers off cruise-ships straight into the general population...complete cluster F....tonight we went for a drive to pick up takeaway from our favourite Japanese sushi place....the roads are empty - I think the wife& kids realised the seriousness that we should have been at home eating - home cooked only....