I am expecting another choppy range week and will buy the lows, sell the highs. Will take it slow this week and try to avoid getting chopped up.
I am only going to allow 2-3 trades per day.
I am only going to allow 2 losses per day as Max daily loss
I am only going to allow 2 winners in a row as Max profit protection
I will only do 2:1 on every one of my trades and at the end of the week, add up my P/L stats.
I will try to shoot for 50-60% win rate.
10 trades at 2 to 1 at 50% win rate is 5% gain.
I am only going to allow 2-3 trades per day.
I am only going to allow 2 losses per day as Max daily loss
I am only going to allow 2 winners in a row as Max profit protection
I will only do 2:1 on every one of my trades and at the end of the week, add up my P/L stats.
I will try to shoot for 50-60% win rate.
10 trades at 2 to 1 at 50% win rate is 5% gain.
Note
Cherry picked trades just to see how a 2 to 1 with 50 tick stop 100 tick target should look like. Mostly 1-3 trades per day
Trade closed manually
My two trades on Tuesday. One winner and One Loser. +505 and -240 respectively for a total of +260 for the day. The second trade I am a bit embarrassed about but still learning.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.