University Trading

first trade or bet in a while, cause i'm at home recovering from an operation.

on the Eurostoxx

entry - 2512
stop - 2500
T1 - 2540
bet £1

this isn't to my trading plan, but its only missing price action elements, all other factors are there. Currently up £4 with the spread being 4, early days though :).
 
oshunt said:
first trade or bet in a while, cause i'm at home recovering from an operation.

on the Eurostoxx

entry - 2512
stop - 2500
T1 - 2540
bet £1

this isn't to my trading plan, but its only missing price action elements, all other factors are there. Currently up £4 with the spread being 4, early days though :).
Click to expand...

left at 2536 profit £18 :D
 
been a long time since i posted. Back into trading and going to be more active in 2013. Took this trade on a pin bar, great trade potential, but miss interpreted the fta though and that cost me profit.

only managed to get £7.50 from this trade.
 

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another point is i'm going to set a target for 2013 and that target is £3900 by 2014. roughly £325 a month from a £100. I know its a unrealistic task for a amateur trader, but with the account growing and me only taking trades like one above then i think its possible. finally that £325 a month wont be hit until half way through the year.
 
oshunt said:
another point is i'm going to set a target for 2013 and that target is £3900 by 2014. roughly £325 a month from a £100. I know its a unrealistic task for a amateur trader, but with the account growing and me only taking trades like one above then i think its possible. finally that £325 a month wont be hit until half way through the year.
Click to expand...

I just thought about this it's an unrealistic target, risk would have to be massive to pull it off. i'm going to add to the account, this should help me in the long term risking 20% on a trade isn't trading. i'm still going to have a target of £4000
 
oshunt said:
£325 a month from a £100
Click to expand...

Perhaps you want to rename your journal to University Gambling ? After a short while, to University Looser ?

Sorry to rain on your sunshine. But you seem delusionally lost. Maybe some sharp words can snap you out of it ?
 
oshunt said:
I just thought about this it's an unrealistic target, risk would have to be massive to pull it off. i'm going to add to the account, this should help me in the long term risking 20% on a trade isn't trading. i'm still going to have a target of £4000
Click to expand...

jees......good luck with those targets .......why are you setting $$$ goals?.....just focus on 100% excellent technique and execution and see whats there at the end in the pot.......:smart:

big mistake for (most traders)..they look for absolute $$$ returns .....but you are at the mercy of the markets my friends.....and only they know what they will offer up to you ...:cool:

N
 
oshunt said:
I just thought about this it's an unrealistic target, risk would have to be massive to pull it off. i'm going to add to the account, this should help me in the long term risking 20% on a trade isn't trading. i'm still going to have a target of £4000
Click to expand...

Agree with NVP. Your focus should 100% on your trades and if you meet targets related to them then your account will take care of itself.
 
BeginnerJoe said:
Perhaps you want to rename your journal to University Gambling ? After a short while, to University Looser ?

Sorry to rain on your sunshine. But you seem delusionally lost. Maybe some sharp words can snap you out of it ?
Click to expand...

Yeah if it was from 100 that's insane risk, i said that. I'm adding to the account to risk a max of 3% a trade with £100 its 20% risk with the stops i use.
 
NVP said:
jees......good luck with those targets .......why are you setting $$$ goals?.....just focus on 100% excellent technique and execution and see whats there at the end in the pot.......:smart:

big mistake for (most traders)..they look for absolute $$$ returns .....but you are at the mercy of the markets my friends.....and only they know what they will offer up to you ...:cool:

N
Click to expand...
It was based off me trading the same as the demo, taking 15 trades a month, 5 of them losers 10 winners, which still wouldn't get me to target lol. Its not necessary for me to get it, just something to work towards, but overall the market decides.
 
BeginnerJoe said:
Haven't you already proved to yourself the demo result could not be replicated in the real market ?
Click to expand...

YES! but and there is a but, I can't trade all the markets I want to trade with the account I have now, which I did in my demo, because my spread betting company would close the trade, due to margin requirements. So i'm not trading the same as the demo.

Do you know a demo which starts with £100 and not in the '000s? i'm going to add £600 to the account and trade the minimum on the ten markets in my portfolio, if I have a draw down of 30% i'll go back to demo as stated by trading plan that's getting updated atm getting ready for the new year. Also i'm only risking max 3% on any trade if its more I don't trade it. Another rule is it has to have a minimum R:R of 1:1 no less.

I'm not a deer in headlights, I have a plan, I have a journal,i have money management rules, I use stops and I've realised my account is one too small and secondly the money isn't significant enough to a certain extent for me to take it seriously and trade properly. I'm treating trading for what it is and that is a business it's not a hobby.It's a job and if I don't treat it like that and respect the market I'll lose.

Last thing,I know i'm a beginner trader, even if I've been dabbling in and out of the markets since I was 18. But i wan't financial markets to be involved in my career in the future. Maybe or even when I blow this account it can be considered a tuition fee.

os hunt
 
Oshunt: From the little experience I have, I would say don't listen to anyone, including me! Make up your own mind what to do. If you feel the need to take big risks, then do it. Whatever happens, learn from it and draw your own conclusions. Think for yourself!

There's a paradox in that paragraph somewhere...
 
The University Trading is open to full-time students in Finance and Economics programs at any university.
 
Just re-read the whole thread and looking at post nine, just saw how much progress I've made on those objectives and sorted them out I now know:

- how to draw support and resistance
- have a journal and trading plan
- news report checklist to show trend of the market
- a morning prep sheet of the markets
- and have increased the size of my account so i'm only risking three percent a trade

Will start resuming trading after my exams are done, with fresh approach to the market.

Happy trading everyone!
 
You can do it man. Just follow your plan and believe in your self. I'm in the same shoes as you, I am just learning as well and I'm sure any encouraging influence towards success is always good. Good luck bro!
 
week 1

done four trades this week 2 winners 2 losers,
3 pin bars
1 sfp

-£15.50 this week

risked different amounts on these trades one of the losers accidentally had double the position i wanted, and also I failed to correctly look at higher time frames sufficiently causing me to chose the wrong area to target profit, where would have won the trade, but trading isn't made of would of's and i'll learn from this trade.

other losing trade was done correctly, just didn't go my way on the day. hitting my stop loss then forming a bullish outside bar at support, to then go to target. which i couldn't take advantage of because of an exam i was doing.

winning trades have been analysed, but waiting on more data to see for adjustment to increase R:R and see where price stopped.

Another point to mention is that on the losing trades they had more at risk than the other trades by position size, which i'm taking into consideration going into next week.

oshunt
happy trading!
 
oshunt said:
week 1

done four trades this week 2 winners 2 losers,
3 pin bars
1 sfp

-£15.50 this week

risked different amounts on these trades one of the losers accidentally had double the position i wanted, and also I failed to correctly look at higher time frames sufficiently causing me to chose the wrong area to target profit, where would have won the trade, but trading isn't made of would of's and i'll learn from this trade.

other losing trade was done correctly, just didn't go my way on the day. hitting my stop loss then forming a bullish outside bar at support, to then go to target. which i couldn't take advantage of because of an exam i was doing.

winning trades have been analysed, but waiting on more data to see for adjustment to increase R:R and see where price stopped.

Another point to mention is that on the losing trades they had more at risk than the other trades by position size, which i'm taking into consideration going into next week.

oshunt
happy trading!
Click to expand...

It's pretty obvious who's material you are following.......
 
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