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Showing content with the highest reputation on 10/08/2018 in all areas

  1. 1 point
    @George C My two cents: taking first partial after 10 cents is too soon. I try to take first partial after 1:1 risk/reward or 0.20-0.30 (depends on ATR and stock price). If the trade goes in my direction but fails to reach that, I then bail out of the trade at break-even or tiny profit.
  2. 1 point
    Hey George, I was in your shoes not too long ago...actually worse shoes because I often let the trade run against me until it came back so I could get out. Worked 95% until it doesn't and your loss cripples your account. Anyway you should at least look for 1:1 R/R 2:1 is optimal. I don't so much have a fixed $$ or cent risk per trade but a max loss of 1% of my acct per trade. Say $50 risk out of a 5k acct. That 1% potential loss determines my share size I can take. Carlos is right about working on entries, you can so easily be stopped out on a great setup but your entry is just off, especially in an ABCD pattern, be patient and try to get a solid entry on a pullback so you wont stop out as often. If you miss the pullback, let the trade go. Catch the next one. Pass up other setups that just don't have the reward. Take 2-3 trades but fish for the best setup you can. If it helps post your trades in the chat and some of us can give feedback. Try that and see how you do after a week.
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