I was up early, saw price was at support on the daily, scalped short for 1RR after the DB held, left the screens for a good bit, took my daughter to school, got some coffee, came home and chatted with the wife for a bit then got back to the screens just before inventory.
Inventory has historically been a disaster for me so today not really wanting to trade but IF something happened that was worthwhile I'd put one on.
I tried getting filled at .71 after the inventory candle was over but no luck. So I put the trade on at .79 hoping the stop runs were over and sure enough, off it went....left a lot of money on the table but that's how it goes when you opt for mostly static targets....I'm not sad or unhappy about it but just part of the game. I'm just happy to be winning again.
Time to study. btw, I got a 48% on my first quiz and the professor felt sorry for me so gave me a second chance. I did the study homework and modified my approach just a little bit and retook the quiz and ended with a 74.9%. Not great but far better than I am used to!
On the other hand, my daughter is rocking A's and B's and made honor roll last quarter. Papa's proud!
Thank you. My intention is to run with the current size for about 3-4 months....and then make a plan for gradually sizing up from there. I have a book by Ryan Jones called The Trading Plan and he has some great ideas for increasing size.ReplyDelete
Panda, what does RR (in the title of nearly every recent posts) mean?ReplyDelete
it means risk reward so a 1RR would be a 1:1RR. Pretty simple....its a function of reporting how much reward I made vs how much risk I took to gain that reward. Its a better metric than reporting gain on capital. It takes into account how much risk you are taking each time. If I took 50 ticks of risk for 30 ticks of reward, the % gain might be good but that would be taking to much risk for the reward. However if I take 50 ticks of risk for 150 ticks of gain, that is a 3RR. This reporting method works if you have a $5000 account or if you have a $5,000,000 account. It helps level the playing field between traders. Its up to you to determine how much 1R equals based on your account size.Delete
Thanks for post:ReplyDelete
vận chuyển bưu phẩm tới Serbia
ship bưu phẩm tới Kosovo
ship cấp tốc sang serbia
ship nhanh từ Việt Nam tới Albania
chợ bạch mã bán đồ gì