swing trading every market but stocks (pics of account and live calls )

This is a discussion on swing trading every market but stocks (pics of account and live calls ) within the Trading Journals forums, part of the Reception category; Originally Posted by Nowler What percentage of your capital will be risked on this trade mate? I only like to ...

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Old Sep 27, 2017, 4:29pm   #25
Joined May 2010
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Originally Posted by Nowler View Post
What percentage of your capital will be risked on this trade mate?

I only like to talk in terms of percentages.
If the percentages are looked after correctly, then the value of the money will take care of itself.

Don't get me wrong , percentages are the best way to keep a track of your performance . You can easily see your performance in terms of R, maximum peak to trough drawdown etc .

But when you eventually go live I think percentages are more meaningful on a larger account . Sure making 30% per year with 0.5% risk is great, but not worth your time on a £1000 account unless you're forwarding your results to a prop firm or something .

I'm sure many will disagree but I think when using small accounts it's best to focus on a rough risk per trade in money terms (say £50 when starting ).
On one hand people might freak out if that's 10% risk. At the end of the day though , it's still only £50.

In other words i will begin using £1 a point and after building the account up then slowly revert to focusing on a fixed %.
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Old Sep 27, 2017, 5:12pm   #26
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Originally Posted by Chartsy View Post
Is there any site aside from finviz where I can see thumbnails of multiple fx charts at once ? Just to scroll very quickly through
Perhaps I am misunderstanding but how many charts do you need instantly?

I can put 4 charts on my screen at one time and it's just a basic windows 8 laptop.
I have attached photos 1,2 and 4 charts on my screen and this is just on 1 screen.
I could easily just connect an external monitor and put 4 charts on one screen and my hub on the other. Or connect 2 external monitors and have 4 charts on each screen and then the hub on another.

I doubt my basic laptop could keep up with with the latter but this is easily addressed by getting a higher powered computer
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Old Sep 27, 2017, 5:28pm   #27
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Originally Posted by Chartsy View Post
Don't get me wrong , percentages are the best way to keep a track of your performance . You can easily see your performance in terms of R, maximum peak to trough drawdown etc .

But when you eventually go live I think percentages are more meaningful on a larger account . Sure making 30% per year with 0.5% risk is great, but not worth your time on a £1000 account unless you're forwarding your results to a prop firm or something .

I'm sure many will disagree but I think when using small accounts it's best to focus on a rough risk per trade in money terms (say £50 when starting ).
On one hand people might freak out if that's 10% risk. At the end of the day though , it's still only £50.

In other words i will begin using £1 a point and after building the account up then slowly revert to focusing on a fixed %.

You know your strategy best my friend, so I will not try to convince you otherwise. I am however here if there is anything I can help with. I only picked up trading 5 months ago though, so you probably know more than I do.

Do you have weekly/monthly targets?
If so, care to share?
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Old Sep 27, 2017, 7:47pm   #28
Joined May 2010
Chartsy started this thread
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Originally Posted by Nowler View Post
You know your strategy best my friend, so I will not try to convince you otherwise. I am however here if there is anything I can help with. I only picked up trading 5 months ago though, so you probably know more than I do.

Do you have weekly/monthly targets?
If so, care to share?

No probs mate. No monthly targets , just to keep executing the same setup until I either hit a max drawdown or profit lol.

Edit: i should probably be honest though in saying my goal is to reach £1k per month profit by the end of my accounting training contract (3.5yrs). An extra £10k a year cash covers rent and cigarettes and a car for a year lol. I'm used to working 80 hour weeks minimum wage to earn £1500 a month , so honestly my monetary goals aren't that high (fortunately ?)

Last edited by Chartsy; Sep 27, 2017 at 10:46pm.
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Old Sep 27, 2017, 9:19pm   #29
Joined May 2010
Chartsy started this thread Ok looks like the dax took off without me .

Another market looking really nice is the Japanese Nikkei index , nice bull flag .
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Last edited by Chartsy; Sep 27, 2017 at 9:39pm.
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Old Sep 27, 2017, 10:51pm   #30
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Originally Posted by Chartsy View Post
No probs mate. No monthly targets , just to keep executing the same setup until I either hit a max drawdown or profit lol.

Edit: i should probably be honest though in saying my goal is to reach £1k per month profit by the end of my accounting training contract (3.5yrs). An extra £10k a year cash covers rent and cigarettes and a car for a year lol. I'm used to working 80 hour weeks minimum wage to earn £1500 a month , so honestly my monetary goals aren't that high (fortunately ?)
Whoa!
80 hrs per week!

Certainly earning your money
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Old Sep 27, 2017, 10:52pm   #31
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Whoa!
80 hrs per week!

Certainly earning your money


Haha that was my last job I had for years. Currently enjoying a cushy accounting gig with a nice big firm lol
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Old Sep 27, 2017, 10:59pm   #32
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Haha that was my last job I had for years. Currently enjoying a cushy accounting gig with a nice big firm lol

Ahh...much better
Nobody could keep that sort of thing up for too long and still remain "intact".

I personally would like to be a bit busier.
Long-term unemployment sucks the life out of a person.

Hopefully I can learn a thing or two from this journal
Hopefully speed up my training period
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