Hi Friends, I have been trading BNF successfully by Tukka Style trading..... not fully tukka, taking assistance with Intraday chart of 15 minutes, 5 min. and 30 min.
15 min. chart is the main on the basis of which I trade. Something like triple screen trading but not really ! As I have access to Live NEAT terminal I also consider overall Market direction in my Trades.
A senior member here gave a few pointers for Entry and Stop Loss which really helped.
My problem is Targets ! Where to exit? After what move should I move SL to cost?
I wish to trade 4 lots of BNF. (At present trading 2 lots) !
Would prefer to exit 1 lot at 44 points ! Why 44 ! has no answer from me... I found this figure to be achieved very often in intraday !
Exit Lot2 at 95/100 , Exit Lot3 at 190/200 and carry Lot 4 till reversed !
These are all arbitarary targets decide by me... seeking advise on these ! Are these okay or need tweeking or major changes? What do you suggest?
Historical analysis in this case was not possible as the trades are more of discretionary type !
I was paper trading since July and till October end total Profits were on an average 1180 points per month per lot ! Expenses and slippage not applied. There were avg 5 trades daily.
I actual trading from 17th Oct till today have gained 2187 points Net in trading 2 lots ! (Approx 1100 per lot) ! There were trades where a Position in 65 points profit ended in 30 points Loss ! So to minimise such situations I need to fine tune my Targets and also application of TSL !
Please do post your suggestions.... even the most crazy ones are welcome !
15 min. chart is the main on the basis of which I trade. Something like triple screen trading but not really ! As I have access to Live NEAT terminal I also consider overall Market direction in my Trades.
A senior member here gave a few pointers for Entry and Stop Loss which really helped.
My problem is Targets ! Where to exit? After what move should I move SL to cost?
I wish to trade 4 lots of BNF. (At present trading 2 lots) !
Would prefer to exit 1 lot at 44 points ! Why 44 ! has no answer from me... I found this figure to be achieved very often in intraday !
Exit Lot2 at 95/100 , Exit Lot3 at 190/200 and carry Lot 4 till reversed !
These are all arbitarary targets decide by me... seeking advise on these ! Are these okay or need tweeking or major changes? What do you suggest?
Historical analysis in this case was not possible as the trades are more of discretionary type !
I was paper trading since July and till October end total Profits were on an average 1180 points per month per lot ! Expenses and slippage not applied. There were avg 5 trades daily.
I actual trading from 17th Oct till today have gained 2187 points Net in trading 2 lots ! (Approx 1100 per lot) ! There were trades where a Position in 65 points profit ended in 30 points Loss ! So to minimise such situations I need to fine tune my Targets and also application of TSL !
Please do post your suggestions.... even the most crazy ones are welcome !