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nit2wynit

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nit2wynit last won the day on December 9

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  1. Well, I'm absolutely convinced that holding out for more than 1:1 PL with a Double the Spread Stop then moving my Stop to the Buy In price is costing me a **** load in profit. I said Yesterday i would be playing for 1:1 but tested the 2:1 today again and proved why I need to stick to 1:1. I've literally given back £150 in profit today. though the trades themselves cost me nothing as i moved my Stop to Buy In, It's still technically a Fail to pocket profit. So that's it. From next week. I will be rigid on 1:1 PL until I can safely grow the account. I'll use tomorrow to continue testing but then reset my account to £500.
  2. Took my 1st loss of -£50. Made back £82. Done for today. I've one more running on Amneal Pharma. Report back later.
  3. ..............but i'll be Swinging for the Fences today lolol Hoping for a bike Spike from Pintec.
  4. Remember the ultimate goal here. This is the Demo. We're practicing Emotions. Over trading. Max Stop, Max Loss. Timing. We're not trying to make a million in one day....though it would be nice. The goal is, to end the day or the hour up 20% of our Capital, or Break Even. That's it. Risk only 10%. Luck is for gamblers, so I wish you good fortune.
  5. I'm not getting notifications to this thread........ Fun today you say? hahha. Yeah Learning while I play. I'm in no rush to blow my next account though. Stop trading like a maniac lol.
  6. @dmedin why is this not proof to you it can work? these are 4 'risk managed' trades using a £500 account. My risk on each one would have been £50 or less. What is there to doubt? i really don't understand you, but i think you've been studying the wrong strategy for too long you simply don't believe it, or won't believe it. Why aren't you trialing along side with us doing this? Go on the Demo, Look at the watch list, give it a go. What's the problem? Risk no more than 10% each trade. Max loss, Max Stop etc. Get in get out 1:1 Aim for 50/50 PL Then come back and say it doesn't work. We'll talk more
  7. dmedin old pal old buddy. Of course it works. I proved it to you months back when I was Live. It's also important to know this Ross Character lol, is one of many thousands of people who make money trading Market Open. It's not a new thang. I didn't lose my account because of breakouts. I lost it coz I wasn't trading breakouts. 😮 I lost coz I wasn't playing to my chosen strategy. Why do you think it doesn't work? We've both shown you even on the Demo (though we both haven't stuck to the plan as we should. ha). I learned when Not to Trade, How Long to trade etc. But most of all I learned to go with what I know and trust. I don't really know how you keep doubting it. It's not magic lol. It's going up and down at market open. Cover your stops. Get in get out. Don't over trade. Has Anything at all ever worked for you?
  8. Just to go over some of the principles again re; P/L IF our success is 50/50 then we need 1:1 just to stay in the game. If we place 5 trades per day, then 2.5 will fail and 2.5 will win. The value must be the same. How we play from here is based upon our own success rate. Your success rate will determine either your PL target OR Price per Point. If you go back now after 2 weeks and count the winning trades, losing trades, Loss size etc. it will give us a heads up on how the strategy is working and where it needs to be amended. IF we're achieving 80% success, then 4 out of 5 trades are winners, but if those 4 winners are only £20 each, and the 1 Loss is £80, then the Win/Loss ratio means nothing. The Loss also needs to equal -£20. IF our P/L is 2:1, then we can still afford 50/50 win loss rate. This way we'll still be earning. It allows for more mistakes, but the 2:1 makes up for it. With 2 wins from the start, but then 4 consecutive losses that's er....66% loss rate. I'll stop here coz I think you know this too.
  9. Buddy, you don't need me to tell you....but just in case I do; You're over trading and not sticking to your trading plan. To the rule, you were up £35, but then lost 4 trades in a row to a total of -£100. It's not just the value, but 4 losing trades in a row means you're off game. That's it. You're done. Personally, when you got -£50 it was over for the day. At least we're still learning, but giving it away like this and that 5k marker is a long way off. I was up £300 last week in 2 days, but I think it was less than 10 trades in total and less than 1 hour trading. However, that's OK, coz, although we might have detailed what we're hoping to do, it's still OK to Make Mistakes so long as we're learning what Not to Do going Live. Because it's the Demo, I've not been paying attention or been distracted, I've still been placing Random Trades to see what happens at various times after the bell. What is happening is the more Random trades I place, the more losses I incur. We're either trading Breakouts or looking for Reversals. Trying to play both one after another on the same stock is a sure fire way to give back profit you've just made. Remember, the direction either long or short is only assured for a few minutes after the bell. Playing after this and you're in random territory. Limit how many trades you will place as well as maximum loss and profit. I know you know this, but I like to hear it back to for my own sake also. Let's see what tomorrow brings for us both.
  10. lol. As luck would have it, I still had my Aurinia Pharma trade going from Friday. Just made £50
  11. That's my boy I've been distracted again; my woman's B'day weekend, but it's today. I now need to make a card lol. I'll skip today coz not in the right frame of mind. Catch up again later and back on it tomorrow.
  12. .....But my target IS £50....10% of my Capital! 😮 1:1 PL I risk £25 for £25, but if I reach £50 I'm good. That's why I'm disappointed not quitting with +£75. Let's PM about our actually strategy here. I started Yesterday with £500. I made £216. I started today with £716 and made +£75. At this point I had £791 in my account. I doubled up instead of doubling down. Lost £80, then lost £100 in a twist. I've made some trades small trades here and there but about 16 in total. Playing like a total **** bag. Long story short. My balance is £664.50. I'm still up £164 on my £500 in 2 days. I can live with that. Lessons learned....maybe ha
  13. It's going hahah......maybe Nah, I had my emotions in check, i just didn't stick to it coz it's The Demo!. This is the bit i need to be rigid on, but it's hard because I'm not learning if I'm not placing Trades! Bit of a double edged sword for me. In my head, i know i got out at +£75.
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