DDykstra1966

Hi, I'm Dale and I'm new here. Been casually trading in simulator for a few months before joining BBT as a lifetime member in Jan 2020. I'm currently in transition, between jobs and have lots of free time on my hands. That's a blessing and a curse - lots of time to study, read, journal, but also lots of time to OVER TRADE! I plan to keep trading after (if) I find my next full time employment opportunity. Goal 1: get good with DAS and the fundamentals of trading that BBT teaches in the next 3 months while in the simulator. Goal 2: go live with real $ in May 2020 (small amounts, probably work with an offshore broker at first to avoid PDT minimum account size). Goal 3: in the next 6 - 9 months, get good at risk management and money management, be more selective on my trades, and become consistently profitable (small position sizes). Practice makes perfect... Goal 4: start making some $ in the 4th quarter of 2020, slowly increasing R size and position sizes. After that....sky's the limit. I live in the Phoenix AZ area, and would love to connect with some other traders down here. Cheers! Dale

Jax, R = Risk. If I'm, risking $1.00 on a trade (entry point vs. stop loss) my target exit point should be $2 - $3 above entry point. e.g. if I enter long at $50, and my stop is at $49, I have $1 risk. Should target $52 - $53 for a healthy Risk/Reward. Need to see a resistance level or moving average in the $52/$53 range. Generally I'll target 2 - 3R before I'll take a trade. Cheers. Dale

Same here Justin. I scale out of a winning trade at around 2R, then watch and see what happens after that. If I remember I'll move my stop to break even, as you hate to give back any losses after the first 50%.