Friday, August 2, 2013

Equity:923.85 - Before market closes

Previously, the 2 trades I had, 1 lost and 1 won. So there is not much profit or loss.

Just placed the above trade, and came out with an additional rule.

  • Do not trade if the realistic profit cannot be at least twice that of the stop loss.

Usually, I will place the stop loss around the previous high/low, like the above graph. I skipped many trades yesterday as the stop loss was simply too high. This is so that when I have 5 win trades and 5 lose trades, I will be able to make more than a break-even.

Good luck!

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