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This is a discussion on Helenqu's Blog within the Trading Journals forums, part of the Reception category; Hi Helen Sounds like another step along the road of self-discovery Take Care Mark....

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Old Apr 10, 2003, 10:08am   #31
 
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Hi Helen

Sounds like another step along the road of self-discovery

Take Care
Mark.
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Old Apr 10, 2003, 10:13am   #32
 
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Its a great breakthrough. Do you find that you can run the profits for longer? I've found that once one gets thro the other discipline/emotion issues this one makes the difference in terms of generating and holding one's profit.

I had a good week too, BTW. I think the war effect on the markets might be on the wane giving us back some more normal conditions.

Stay well.
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Old Apr 10, 2003, 10:18am   #33
 
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Helenqu started this thread Yes I have no problems running it at all, just wait for it to be finished. All I need to do is transfer that to futures.......
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Old Apr 10, 2003, 10:23am   #34
 
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This is curious. It seems that in your head there's a difference between a futures trade and say SB, or perhaps shares. So i wondered what the difference is, knowing that you will appreciate that whatever the financial instrument, the same strategic principles apply?

Les
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Old Apr 10, 2003, 10:28am   #35
 
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Helenqu started this thread Hi Les,

The difference is mostly MONEY. My SB stakes are much smaller and the length of time I hold is longer. The bottom line I think is my attitude to money, because I've never had much I value it probably more than I should.
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Old Apr 10, 2003, 10:33am   #36
 
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So it gets a lot more scary when the stakes are higher?

Sounds like a whole 'nother discussion and not for here
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Old Apr 11, 2003, 5:50pm   #37
 
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Best week for ages :)

Helenqu started this thread Ok end of my trading for the week and it has been very positive in my 2 hours a day, despite a somewhat poor market between 9 and 11 most mornings.

Made 5 trades.

+10, +5, +18, +29 and -18

The first one was STOXX the rest Dax (SBs).

At + 44 for 10 hours work I'm moderately satisfied (makes a change eh?)
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Old Apr 11, 2003, 5:55pm   #38
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Hi Helen,

I have to say that it would concern me that the losing trade you had (-18) was equal to or larger than 3 of the 4 winning trades. I would argue that it is prudent to aim for twice the amount of points per winning trade than per losing trade. Now I know that you may say that the winning trades did not offer the opportunity to get more points which is fine. I would, however, say that the losing trade of -18 should have been closed much much earlier. The reason for this is that your average winning trade gave +15.5 points but your average losing trade gave -18. To be successful with this would require being right more often than being wrong. You may well have a method that allows that but if you dont and your trades average out at 50% win and 50% lose the long term effect will be net losing.

Of course using a SB company means that you have bid - ask spreads which would not be the case with your IB account so the situation may be somewhat better. I hope you dont take this as negative as it is not meant to be, like others on the board I just give my views and of course they are just that.

Good Luck


Paul
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Old Apr 11, 2003, 6:00pm   #39
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First well done for ending up + that is what it is all about so take the good from this week and remember what you did and why that way you will be able to do it again. AS for the loss I agree with Pauls comments as you know from my e-mail I am getting better results from setting a definite stop loss and then applying a rolling stop loss.

Keep the wins coming

Kevin
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Old Apr 11, 2003, 6:05pm   #40
 
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Helenqu started this thread Hi guys,

Thanks for the comments, I really do appreciate your input.

I've gone back and looked at the trades again.

You have to ignore the +10 as that was my futures strategy.

The other 4 trades:
+5 - cut it as I had to take the kids to school and wasn't sure it would carry on up (actually was the right thing to do as it fell while I was out)
+18 - Good trade ran to target
+29 - Good trade ran to target
-18 - I always have my inital stop at -20 with this longer term strategy as I'm going for much longer runs . This trade was cut when it went through a pivot that I expected to give support. It didn't so I closed it before it hit the stop.


What I don't know as yet is how good the entry rate is. I get about two out of three winners with my futures scalping and I sort of expect the same with the longer term one too, but I don;t know as yet. I will keep a close eye on it.


Many thanks again


Helen
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