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I generally risk what the market tells me. Usually between 10 and 20 ticks, which is $100 to $200 per contract. I place my stops according to market structure. Timeframes are picked that meet my stop criteria. You will notice that I trade different timeframes on different days depending based on what the volatility of each market is that I trade in.
Can you help answer these questions from other members on NexusFi?
I want to let you and all your readers know that in October nexusfi.com (formerly BMT) has a Trading Journal contest w/prizes. The contest runs October 1 to October 31, and the three best journals (as decided by nexusfi.com (formerly BMT) members) will receive a 150K combine from TopstepTrader.
Continuing in the tradition of encouraging journals on futures.io (formerly BMT), I am announcing a new Journal contest for October 2014.
The rules are extremely simple:
a) The contest begins October 1 and ends October 31. All decisions made …
That thread will be open for posting starting Wednesday, October 1. As the author of your journal, you need to make a post in that thread linking to your journal, and then ask users to press the "Thanks" button on that post if they want to vote for your journal to win the contest.
Members can vote for as many different journals as they want. Votes are cast in the Contest thread only, and only on the first post made by the author of the journal that contains a link to their journal. This is done so I can easily count the "Thanks Received" by author/journal, and award the three prizes.
I will post my journal to the contest too. I have another journal I am starting in October for The Intentional Trader trades I take. Can I post that one too?
Not sure I recall reading any rules about the Friday close or previous day's close. If you don't mind elaborating further, I would appreciate it. Thanks.
I don't take trades that are against a strong trend. With the prior day's trade there was a steep trend from the open. As you can see I was filled on the low tick and it went immediately against me.