Posts Tagged ‘ position sizing ’

Picking Up Steam

Well it’s been a crazy busy two days and I’m still running at 100 mph now. I tried a little experiment with a longer term trade yesterday using an 80SL and 80 TP. It didn’t work out but I have gained something from it and I’ll keeping an eye on it and paper trading it. That’s the reason for the -65 pips showing on Myfxbook. I had a successful trade on TUFXP on GBPUSD for 25 pips but then slipped up with a 10 pip loss on a trade I meant to cancel but I wasn’t quick enough. Overall though I only dropped 1.75% which really highlights the importance of position sizing and money management. I still see people quoting pips everywhere without regard to position sizing! Anyway, a few people have taken notice on the thread going on FF. 

Today was a much better day with two winning TUFXP trades for 55 pips as I held onto one of them for slightly longer. I’ve got up to 18 trades on Zulutrade so maybe by Friday I’ll hit 30 trades. If you want to signup and follow my performance, you can do so here.

I’ve also been in talks with someone with the idea of helping me getting my trading really moving forward, I should be making an announcement in the next few days, I’m fairly excited about it and it’s a welcome relief. Thankyou to everyone for their continued support.