Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now, It is 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)
Happy about my results today. I was down in the morning but quickly recognized the strength and kept going long at very tight stops, market would not pull back.
Good day overall but most importantly the first time my account is above $16k happy !
My stats are encouraging so far and will have to keep my emotional in check next week to finish my November well (NO EXCESSIVE RISKS)!... My Win % for the week is at 80%, daily ES avg points 2.3 and have not been exceeding my daily loss limit. Statistically speaking I could continue doing well if I don't mess up with my losses.
Thought I would share with the group here something I though it was important for every trader to read, it is an extract this document ( Business plan to open your own Forex Brokerage)...
Part I like the most is the one below
It's now 11:12am in Ontario and I'm done for the day... took my day off at work and will pretty much hang out with my wife and family.
Hope you guys had a fantastic and profitable day.
The following user says Thank You to sharp2be for this post:
Today +$2,833 (17% or 56pts)
Week +$1,702
Nov09 +$3,052 (20.3% or 61pts)
Total +$3,052 (20.3% or 61pts)
Wow ! Have to keep my emotions in check here or else could start over trading. It's now 1:21pm EST in Canada and I'm not trading anymore for the day... need to regroup, it's been a great week, big swing yesterday and big swing today. ES reaching a very difficult resistance point that could get very choppy and wipe out my account, I have seen it before. Reducing my risk to 1 contract starting tomorrow, that's IT !
Looking at the ES, it just popped but knowing myself I can't trade anymore, will just give it back in the afternoon.... have a nice entry on RIMM which is going well...
guess I will participate in the market that way for now
Hope everyone is having a good day !
The following user says Thank You to sharp2be for this post:
Coudn't be any happier about my RIMM... strong recent accumulation, big movement today and "my stop" in place...
What you see here is the 30mins of the TSX version of RIM... RIMM should be just the same.. note the strong accumulation and breakout of a downtrend flag...
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker: VanKar
Trading: NQ
Posts: 520 since Sep 2009
Thanks Given: 583
Thanks Received: 1,248
Congrats on a great day. Really impressive.
My only question is you seem to have gotten away from your original goals (profit 4 ES points per day, no more than 3% loss per day, 1% per trade). Your daily deviations are a bit larger than that, but your bottom line is what counts and can't argue with your results.
Have thoroughly enjoyed following your posts.
The following user says Thank You to papa15 for this post:
Papa, good observations. I had two days where my losses were much larger than my original max daily loss of 3%. The first time was a total lack of discipline and the 2nd incident was yesterday. Although not a strong enough reason, I had some order execution issues yesterday. One of my stop loss orders didn't trigger and it was too late when I closed it.
I have to continue working hard at simply stopping when my losses reach my daily max. I feel I've gotten much better lately but still have a lot of room for improvement. One of the things I did right today was simply stop trading when I did ... I saw the ES reaching the round number and thought it was going to start a range and sure thing it did... so, glad I stopped trading.
Tomorrow my plan is 1 contract per trade and only trade after 10am... busy day at work.
The following user says Thank You to sharp2be for this post:
happy !
