Keep Calm and Don't Move Your Stops.....

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Monday, November 21, 2016

+.67% today....+.67% for the week

Initial trade was .25%, was a loser. Followed that with a .92% winner with .50% risk. Net of  .67% winner for the day.

Longs only today based on the trend. Kept risk inside 1.0% which is where I want to be on each trade. Less if possible but in truth, when the risk in ticks is small, then I need to size up to keep the risk more or less around .5%.

The first trade was not the best looking one for sure and the reason I went with only .25% of risk. The second trade looked better but I was unsure so I went in with .25% and added as it went my way. Took the trade off at 2X and 3X the initial risk.

Lastly, I removed the trail stop from my ATM strategy. Now it only moves the stop up if and when it gets within 5 ticks of my initial target. I have a few of these strats with different targets and I changed them all to essentially leave the stop alone unless it's close to the planned exit. Then I want to lock most of it in while giving it a few ticks of room to make the full target.

The plan is to make 1% per day by whatever means necessary so fell short a bit today but in terms of executing the money management strategy, I give it an A and will build on it from there.

I did leave another 1% on the table, I went to make some breakfast and when I got back, the continuation had happened a bit faster than I thought it might and I missed it. That happens sometimes.

Getting ready to head out and run some errands today and I have to begin preparing for my fathers memorial service in two weeks. I have quite a lot to do in regards to prepping for that.