Our goal for the future is to identify in what market conditions we should be position trading and in what conditions we should be scalping. We consider a profit target of 10 ticks or less (usually 5 ticks) a scalp, even though most traders would consider this a more medium term target.
We had the position trades last night, and today when we reached the screens, the market had a tremendous rally, which we did not capitalize on. We did however analyze and interpret price correctly for the time that we were trading. We took a $10 loss on a trade since we saw conditions change in the market. Aside from that loss, we has an 85.71% profit ratio, 7 trades, 6 winning, 1 losing.
I will post my first tutorial on risk / stop management later today.
Here is the chart of the trades performed during regular trading hours.
No comments:
Post a Comment