Mr Cat learns to trade

To reduce risk. My plan is to be in the, market when it breaks. If it breaks and retracts it seems it will take out a long stop as often as a short one.

anyhow in at 148.75 stop at 50 2.5% risk.

Jammer you heckled me into a longer stop - lets hope I have got a bargain. lol

Anyhows jammer - how would you consistently turn $1000 into $1100??

Consistent profits come from consistent trading, NOT from getting spooked in and out of positions all the time.

I'm not going to tell you what to trade - that has to come from a market view and I don't want to inflict mine on anybody.

I am just trying to make sure you have one, it's properly thought through, and it meshes with a consistent, sensible money management strategy.

GJ

Robicat

Why don't you try binary bets. On extrabet.com - sports betting, bet in-play, bet in-running you can play as low as $1 on each position. Have a look at the FX ladders. There you are betting on whether the FX cross will be above a certain level at close. You either win or lose. But you can always close your position if you think you're going to lose.

RIWF

Shifted stop to 14875. Freeroll. (price 14909 retracing from 14920)

Thanks ... i follow binarys and use them to price my decisions sometimes. Spreads are better cause you can control risk return. A binary is really a bet against a market. Spreads seem to me more open to getting systemic edges.

My experiment is to see if i can trade 1000. What I am doing is playing tight on risk, and grabbing good odds on breaks and turns. I expect to lose 3 deals to one win. The shorter i keep losses the easier it is to grab 3-1 odds. Playing the game of inches gives you a supply of freerolls and small wins, and hopefully a supply of small profits that can be put into a deal that is of a more medium term nature. Longer term the idea i am having is to let some of the positions evolve into interday positions, thats not this drill though which is more about learning to let go of deals.

The key is killing deals that lose the edge (momentum) early, and taking profit at a rate that is more than 3-1 above yr average loss, and being selective enough to hit 1 in 4 deals.

Anyhow its a plan...

Closed Out deal +45

-4, +12, +45 = 5.3%

Oh well so much for my Euro Rally theory.

Eval.

11/08 - 4 trades +15, +35, -4, -10 (score 0,+ 5.6%)
12/08 - 5 trades +53, -18, -19, -3, 0 (score 0, +1.3%)
13/08 - 3 trades -4, +12, +45 (score 0, +5.3%)

Week 12 trades - Loss 7 for 58, Win 5 for 170. Ave Loss 8.28 Ave Win 34

W/L = .71 (Target .33) AveP/AveL 4.1 (Target 3.33) PL 112/1000

Weekly score - +1 (11.2%)