In Natural Gas, I'd move the stop loss to the entry level (breakeven). EUR vs CAD (EURCAD) looks like a 2:1 short setup to me, I'd now go short (it trades @ 1.5698), place the SL @ 1.5770, profittarget would be 1.5480 .
I'd now close the silver longtrade at a slight loss - above the original SL, it may be too late to trade it on the shortside, either. The long setup was posted when silver traded @ 25.40, it now trades @ 25.28 so the loss would be minimal. You have the watch the underlyings you may want to trade almost continously, I would have posted a short setup had I been in front of the screen when the red bar closed below EMA34.
On August 3rd, I posted a long setup for Natural Gas when it traded @ 1.964, it now trades at 2.481 US$. I'd now move the SL to 2.10 US$, to ensure a slight plus could be realized in this long setup, price target remains 3.00 US$
Pair EUR vs NZD ("Kiwi") now is 100 pips away from my profittarget of 1.8250 - it'd then be a 3R winner, I posted this long setup on page 11 in this thread on July 24th, see "green spec" on the chart . I would now move up the SL to 1.7900 so a profit would be ensured if the pair turns south.
You are just posting your *potential* trades there... The single trades are not even important... The numbers matter and i am not seeing any statistics. Are you making money? What is the weekly PNL? Monthly PNL? Which trades work best? What do you need to keep doing? What costs you money - what do you need to stop doing? And what should you start doing? Find out what works and do more of it, (try to) stay away from what doesn't work. Don't do everything.Start off with only 1 trade setup that you know has an edge and will make you money over the long term. Then add to the playbook as the time goes on. The trades might be fun at all. If you are wrong, it's paper money, if you are right it feels good. You need to develop/follow a process for daily improvement. Otherwise you will be just spinning in circles like everyone else is.
I wrote already that I'm broke as of now, but might see financial improvement in the future. If so, I'd exchange with able traders in this thread. I don't have any money right now and can only post setups, not trade them. I also wrote how much I'd risk per trade, and that trendfollowing would be my style.
@janbillian, I believe it's important to treat paper trading as real-trading. We commonly use threads here on elitetrader to prove to ourselves that our system works without putting money on the line. We put something else instead, our ideas and ego are involved because we post publicly. If you can post publicly, keeping a record of your PnL is important as it keeps the results as close as possible to market reality. When trading systems in the "paper" style, you'll find that your ego allows you certain bonuses and benefits. When you start to trade in a real market, you'll find these quickly disappear. By following your own results closely, and by allowing others to see your results, you'll find the same ego involvement as in real trading, and so find ways to overcome yourself. I highly recommend it!
Oh, I am tracking the results ! I always give the SL level and profit target, take the time and read the thread. I'd now close the EUR CAD short position with a slight loss, it now trades @ 1.5722 . Original SL was 1.5770. Again, the actual dollar amounts of course depend on the account size and % of equity risked per trade. I'd stick to a maxium of 2% if a loss has to be realized, others may consider this too risky, again others would be more aggressive.
Oh okay, and where can we see those results? Daily PNL? Weekly PNL? Monthly PNL? Equity curve? Average loss/win? Win-rate? Just to name a few. It's a numbers game.