Why not risk 2% across all positions?
How does your risk of ruin table look?
price broke above the resistance, and hit my stop loss.
IMO this trade was worth the risk. one thing to note the indicator was still rising.
[B]Note:[/B]Waiting for the blue to cross red for confirmation that trend is reversing, may have been wise.
[B]-57.47
Balance 2942.53[/B]
IMO makes more sense running 2% of availible balance.
Because while trades are active the money tied up isn’t considered my balance, as i’m not garanteed to get it that cash back.
What does your risk of ruin table look like?
Set this buy stop last night, wanted to try 61%% retrace against the trend
75% of my will close at 61% and SL will move to BE
remaining 25% will use a tight trailing stop
i’m not expecting to win 100% of trades, i’m looking for possible setups with potential, then using my risk/reward and money management to give me +% balance.
using 2:1 ratio, i only need to be correct 45% of the time to make money.
Obviously i want better ratio and win %, but this gives an idea to what is needed.
and hopfully answers your question : )
how profitable are you?
First Take profit level locked in, i was unfortunate to miss second Take profit level by only a few pips.
Stop loss also moved to break even.
“Plan the trade, and Trade the plan.”
Balance Updated On First Post
I was planning to little hedge with GBPUSD as it looks like the swing may over extend, but tbh more research is needed about hedging before i feel comfortable including this method in my trading. so i canceled it quite early and decided to stick with my original SP limit, even if it hits.
below is the result.
Balance = 3061.44
After re-evaluating my fib measurments, i decided to use the break out level as my starting position as 100% retracement landed straight on a heavy resistance area.
Second take profit was hit
3k Volume remaining active
Balance = 3092.52
P.S i regret this, was a perfect example of over thinking and not sticking to my trade plan.
fact is i had alread took alot out of this tade with my first tp level
i should have left it running with my trading plan, made alot more sense.
Stop loss hit
could have avoided this trade had i paid more attention to the weekly/monthly charts.
Balance = 3069
[B][U]Break Even hit, Trade Closed[/U][/B]
Hi guys, i’m going to let this thread die, and start another as i’ve completly changed how i’m trading.
my chart drawing were quite a bit off and didn’t want people to see the old charts on the first page.
i’ll start a new thread posting only completed trade to help keep the thread clean also.
they will include everything needed to track my progress.
Admin delete thread if possible please
Trend line trading is the step by step trading in which what ever trading we are doing it need to save all records to understand the trading strategy properly even loss or profit generated…