107^7 took 2 off at^3. Was looking for es on the news but took bonds all ready. Holding 1 at this point.
at 106^24. will add it back to my other account as an entry comes up. +23 ticks, will get goal after loss earlier after commissions. Will double check again later, but I show + 654.95 net. Brings total over 18000, so will add a contract tomorrow and goal up to $180.
tango, first of all, thanks for posting. You started with 2 contracts and a daily goal of $150 (based on a $15k account). Now you're at $18k, and your trying for a daily goal of $180 but will be using 4 contracts. So now you'll be risking twice as much but only shooting for 20% more? just trying to follow your logic here..... 3dog
Whats that? Kidding, That goes along with other parts of the risk reward problem that pops up for each trade. If I just take goal I am in reality have probably intially risked 2 times more on the trade. Example, a bond trade for me rarely has less than a 4 tick intial stop, yet I can take goal and be done with 2 ticks. What happens if I get whacked right after entry!? I am have to dig out of a hole. On the other hand days like today I made well past goal, and I could say this offsets that. In that light I could say that these days will also somewhat compensate for the risk you point out. In addition to the 1% a day the goal is to also add contracts and I am willing to accept the risk/reward conflicts to keep adding. I haven't had time to figure how I am going to alter the addins as of yet, and for now will stick with next add at $22000, and the 6th at $30,000. This slowly brings the risk/ reward around from what you point out. Since I haven't taken a beating yet, I am going to keep going. Thanks
You are doing great. I think we all struggle with risk/reward ratio. I only trade 2 contracts with 20+k and am struggeling with deciding where to add the next contract. My win ratio is not as high as yours, so will just stay with 2 contracts. Also trade a lot on the DAX and stops can get blown prety quick, so that tempers my thinking. Thanks for your posts.
winners in bonds and the mini sp all ready this morning. Was sitting here and did too much thinking. Further proof that thinking is bad!
at 107^10. So 10 ticks Net = 293.3, would have held a little longer , but too much going on to mess with this one.