Review of the latest trades in the portfolios has us right at equity peaks with Crude Oil After Hours hitting its 70
point profit target last night.
Jim booked +5
index points profit on two trades, quit for the day, and was satisfied with results.
But ultimately my goal is to quit my well - paid but boring cubicle - based day job and do it full - time at
which point profit would rise as I can take on more management myself.
We go over the latest results for Tick Pulse without a profit target (we currently use a 10 point stop loss and 12
point profit target).
If this trader took 10 trades using a one -
point profit target and a three - point stop and won on seven and lost on three, he would make a total of seven points and lose a total of nine.
Alternatively, if only the best two or three trades a day are taken with a four -
point profit target and a two - point stop, a 40 % success rate may be viable.
I have several trades that went in favor of my position (130
points profit), but then totally reverses back.