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.
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.
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.