Tiny risks taken today. And smaller targets as well.
I wish I had been paying better attention, I would have sized up to my max size on the second trade. But I was hoping for a pull back all the way down to the area where I marked the second pink circle but it didn't make it there so I assumed on the second trade there was more risk than there actually was. Oh well.
EDIT:
After missing all the short selling at the top!!! Go figure right???? I saw buying on the tape and figured it was good for a small scalp back to the OR low....
Risked only about 5 ticks or so and got 10 for a 2RR trade.
nice trades today.
ReplyDeletei also felt like today was not a good day to size up. it seemed like the markets had already done what they wanted to do in the london session.
good luck tomorrow
Well, I know I've read some articles about sizing up during periods of low volatility in order to grind out some decent dollars. It makes sense to me if the risk requirement is low. On days when CL is moving 250 ticks, it's probably unwise to use max size but when risk is only 5-10 ticks, sizing up makes more sense...that said, I'm having trouble getting to max size due to the idea that CL can and does flip around even now....so I am watching to see if and when the stops get run before trying to put on a trade....or better yet, be part of the stop running game, or at least put my trades on where the stops are hit....that's a skill and an art form I have not mastered. Good luck tomorrow
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