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

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Thursday, January 19, 2017

+.375 + .50%...+.875% for the day

Two trades. The first one trailed out at +.375% after missing my target by a tick and the second one went right to the target.

Bought 52.37 and 52.42. The price action was very range bound today and I think I was lucky these signals actually produced something. I traded a bit longer than normal today as my schedule allowed it. However I'm now running late so time to get going.

I think tomorrow I will adopt Sandy's nomenclature regarding risk and reward reporting. I will move to an RR format where the reward is expressed as a multiple of the risk. Using that format, I was 2RR and 4RR. I actually like the way that looks as opposed to a percentage return. 4RR looks better than .50%.

Inventory is in a couple of hours...trade safe!

Anyway, until tomorrow.

2 comments:

  1. The RR way helps me focus on the process, keeping an eye on position sizing and trade management in real time without complicated, (and in my view) unnecessary post session analysis that can get pedantic.

    The actual percent or dollar amount amount is nice to see as to how ones hard work is paying off, say end of week or end of month, end of year.

    At least that's the way I look at it

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  2. I like all metrics! The more the merrier! That said, you can't spend percents or RR, only dollars. :P

    ReplyDelete