Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I looks like you could have gone to breakeven plus one on a few of these trades man. Lately I'm break even plus one as soon as I can.... cause I'd rather end flat on the day than take a hit... Hindsight being twenty twenty.
Recovery is right around the corner...
Recovery is right around the corner...
Recovery is right around the corner...
Recovery is right around the corner...
Recovery is right around the corner...
Recovery is right around the corner...
Recovery is right around the corner...
I hear ya. On the other hand I've gotten plenty of winners that came close to my target, revisited my entry and then hit my target. I would have missed out on those. It is one of the challenges of trading with fixed targets/stops. On my FHG trades, since I manage them with ATM, I usually go B/E when I get 90-95% of my target fulfilled. The automated gap trades, though, don't have any dynamic trade management in them. I may add this later, but it's not that way right now.
Absolutely. That depends a great deal on the instrument you're trading and the volatility of the day or time of day. For example the ES or the ZN... you can enter the market at the right time/price and sit for hours a few tick from a stop and never be hit. Other contacts require more proactive trade management.
Either way Mike, your multi contract system you have both a small target and a runner potential. Don't you move to BE after your first target?
It's nice to see you had a profitable day, even though you say small. You had a couple ruff days last week but didn't give up. I think its good that your still trusting your system and not trying to change because of a couple off days. Good luck!