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Very nice thread. Have you changed your system much over the past year? I am in my early 60's and have been at this for a while. You have stated some quality of life aspects of trading that I am sure most newbies have not considered. There is more to life than trading in front of a computer all day.
Glad that you like the thread.. in terms of trend i haven't changed anything .. its still the same .. i have reduced my setups even further down to just A setup .. i like to just trade for few mins a day and get done for the day simple as that. Quality of life is very imp because if you want trading to be part of your life for a longer period .. you need to have life outside it .. sitting in front of your pc and looking at 10-20 different setups and always looking to crack the markets secret code not going to help you to become a better trader in fact it does opposite of it.. simple setup simple goals thats all you need .. Thanks for reading the thread..
Here in Florida we are awaiting hurricane Issac to hit. I am a bit curious about life in India. On days that you trade just a bit in the mornings, how does on spend their time over there. I have a method similar to your that I trade. If you don't mind I will post a couple of days just for comparisions.
Please do post your trades as much as you like ...
Life here is simple .. trading is mostly during 6 in the evening .. so most of the days its just free to do what i please .. mostly that's just relaxing cooking helping dad with his business .. Cooking takes most of my time .... for me my life is simple my work hours are very less as i just don't like to work much .. and that's trading .. so i try to do as much stuff other then that .. Us tv shows , books , movies .. nothing other then that ... its fun because u have to always try to find something or else time just moves to slow ..
Excellent trades.. just your 3rd trade entry was just too rich for me .. no ideas abt nq but in general when trend is set like in this case breakouts are not needed to confirm the trend or to enter... here you had pa with you trend with you .. thats more then enuff .. yes if pa was against you then you need to wait for the breakout but other then that breakout here for me is just too rich . just my one cent ..
btw love the simplicity of your charts.. great trading again.. thanks for posting . please do keep on posting..
Paul depends on instrument and time frame you use ..i have seen it go as low as 40% to high as 70%.. right now i am trading in 50% range .. but targets are always 3-4 times of stops .. so in the end its not a problem .. to find the percentage you will need to back test the instrument your trading on .. I recommend highly that you do your own back test on at least 6 months of data that will help you to get familiarize with your setup with targets with stops and also guide you what percentage you can expect .. Hope this helps....
Extremely sorry for late reply it just slipped my mind .. hope it helps ... Best of luck in your trading.