My methodology
My trading journey has taken many twist and turns. At present I have settled on a simple methodology with rules that are designed to eliminate the biggest problem in my trading (myself!).
I trade US stocks. I identify a high probablility retracement pattern and enter 5 to 10 minutes after the open. I then set a 2% stop and leave the trade for two days exiting with a MOC (Market on Close) order. I never risk more than 1.5% of my account on any one trade.
My paper trading so far has been encouraging so I have started trading this method. . I will use this journal to increase my discipline.
I have an open trade: ABCO @ $39.50. (Stop $38.71) I will close this trade at the close of market Monday if not stopped out.
I intend to enter GNSS on Monday morning.
So here goes!!
My trading journey has taken many twist and turns. At present I have settled on a simple methodology with rules that are designed to eliminate the biggest problem in my trading (myself!).
I trade US stocks. I identify a high probablility retracement pattern and enter 5 to 10 minutes after the open. I then set a 2% stop and leave the trade for two days exiting with a MOC (Market on Close) order. I never risk more than 1.5% of my account on any one trade.
My paper trading so far has been encouraging so I have started trading this method. . I will use this journal to increase my discipline.
I have an open trade: ABCO @ $39.50. (Stop $38.71) I will close this trade at the close of market Monday if not stopped out.
I intend to enter GNSS on Monday morning.
So here goes!!