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TOPIC: Chartsview help please.

Chartsview help please. 22 Jan 2013 08:29 #1

  • longterm_view
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Many thanks for your replies.

Remo, as you said, i already use around the 2% rule, (just a bit under.) :)

Redchilly, many thanks for the pyramiding, i will read up on it now.
I did try experimenting with more liquid markets (gold) but seemed to get stopped out more than i usually do. Gold moves fast when breakouts occur. :woohoo:

:cheer:

Good board Remo. ;)
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Chartsview help please. 21 Jan 2013 19:33 #2

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LTV good to know that you are making profitable trades and have a trading plan for each trade. Well done mate.
If you have a trading strategy thats working...stick to it. As far as how much to risk - the answer is really simple. If you have a R: R ratio of 1: 1 or more and if your losing trades are less than your winning trades you will consistently make money. Your targets are not unrealistic and you have posted some good charts with good trades.

Some suggestions if you are already not doing it :
1. Use fib expansions for your targets as well resistance and previous highs
2. Try your already working trading strategy with more liquid markets for e.g FOREX
3. Analyse your trades. If your winners are more than the number of times you get stopped out than you can try ADDING to your positions when a trade goes in your favour. i.e you are risking the same amount of money but you will increase your profits substantially.Its called PYRAMIDING.

Here is a link to a brilliant article by Nial Fuller
www.learntotradethemarket.com/forex-trad...gement-forex-trading
dyor
redchilly
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Chartsview help please. 21 Jan 2013 18:13 #3

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Just went over your trades and it seems you have done really well and your targets are realistic. your not being greedy which is a good thing.Its working so all you need to do is adopt the 2% rule into your trading(you might be doing it already so dont know)
keep it up.
There really good companies.... ;)
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Last Edit: 21 Jan 2013 18:13 by remo.
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Chartsview help please. 21 Jan 2013 18:00 #4

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Hi longterm_view
The main thing is your making money.It does not matter how much.
With regards to how much your willing to risk??
This boils down to how much money you have as trading capital.

example.
if you had £1000 then the maximum you should lose on any trade is £20
That basically means the maximum your willing to lose is 2% of your trading capital.

So look to trade only 2% of your trading capital on any one trade.
You should not risk more than 2% of your trading capital. If you do then your more likely to lose in the stock market.
Trading is not a race.
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Last Edit: 21 Jan 2013 18:02 by remo.
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Chartsview help please. 21 Jan 2013 16:36 #5

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Profits / Exciting a trade. I can enter a trade, (always with a stop), but profits seem small, as I usually risk £60.

After a discussion with Remo, you take profits at resistance points. Are my targets unrealistic? Should I be risking more money. Generally what is the amount your willing to risk per trade?

I hope you can understand my trades. :silly:

Please see some recent trades.

Enter Stop £PP 1st Target 2nd Target 3rd Target

Kingfisher 268 262 10 273 281 285. Close below trend line.
long (5*£3.33=£16.65) (13*£3.33=£43.29) (17*£3.33=£56.61) Total £116.55.

dl.dropbox.com/u/21384991/Kingfisher%20P...21.01.d%28DFB%29.png

IMI, 1142 1162 3 1115 1096
Short (27*£1=£27) (46*£1=£46) (Stopped out, break even) Total £73.

dl.dropbox.com/u/21384991/IMI%20P%20l2.01dc%20%28DFB%29.png

BG 1000 980 3 1039 1105 Total £39.
long (39*£1=£39) (Stopped out, break even)

dl.dropbox.com/u/21384991/BG%20Group%20P...01.d%20%28DFB%29.png

Tullow 1104 1084 3 1164 1270 1255 Broke uptrend.
long (60*£1=£60) (166*£1=166) (151*£1=151) Total £377.

dl.dropbox.com/u/21384991/Tullow%20Oil%2...01.d%20%28DFB%29.png

£pp is split into 3 for 3 contract rule.

Current Trades. Potential Targets.

Petra, 111 102 6.66 118 124 Free Trade Say 134.
Long (7*£2.22=£15.54) (13*£2.22=28.86 (23*£2.22=£51.06 Total £95.46.

dl.dropbox.com/u/21384991/Petra%20Diamon....01d%20%28DFB%29.png

Kentz, 403 373 £2 423 444 Free Trade. Say 470
long (20*£0.66=£13.2) (41*£0.66=£27.06) (67*£0.66=£44.22) Total £84.48.

dl.dropbox.com/u/21384991/Kentz%20Corp%2....01d%20%28DFB%29.png

Stops below recent low, or 20.

Apart from Tullow, risking £60 to get back between £70-£100 seems too risky. :woohoo:

I know I shouldn't complain, as I am making profits, am I being greedy?

Any advice, most welcome, I can take criticism.

Many thanks in advance. :)
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