Trading Rules
Name: Robert
Live Account Forex
Account Size: 2000
Max. Position Size: 10000
Loss Limit: 60.00
Market(s) trading: FOREX
Trading hours (in Eastern Standard Time)
Trading style: Discretionary
Trading strategy: Breakouts
Loss limit:
What is your edge? Trading Breakouts and predicting price movements using support and resistance.
Risk to reward ratio 1 to 1
Mechanics (entering orders, placing stops, etc.): Use OCO orders to set stops and target. Enter on market during a breakout or use stop above breakout point to capture breakout.
Core discipline principles
Trade only high probability trades. If I miss it then I miss it. There is no getting in late on a trade. Never re-enter the market right after a big win or loss. If I lose 3 trades in row then I am done for the day. If I have 3 losing days in a row then I am done for the week
1. I will NOT hit my loss limit.
2. I will NEVER add to a loser.
3. I will NEVER add to a position
4. I will stop trading if my Net P&L is greater than $100 and my Net P&L has pulled back
25% off my high watermark (Net P&L high of the day) for the day.
5. I will take at least a 10 minute break after a large winner.
a. Define what amount you consider to be a large winner: 70+ ticks
6. If I am down for the day, I will take at least a 10 minute break if I experience 3 losing trades then I am done for the day. If I have 3 losing days then I am done for the week.
7. I will always commit to my stops and will never enter a trade without having a stop in place.
8. When my trade goes in the money by 10 ticks, I will slide my stop to breakeven [at the very
least].
9. My largest winning day will be greater than my largest losing day.
10. Overall Average Win greater than Overall Average Loss
11. Overall Average Win Duration greater than Overall Average Loss Duration
12. Total Win % of 45 or greater
Name: Robert
Live Account Forex
Account Size: 2000
Max. Position Size: 10000
Loss Limit: 60.00
Market(s) trading: FOREX
Trading hours (in Eastern Standard Time)
- Start time: 8:30 am
- Stop time: 3:00 PM
Trading style: Discretionary
Trading strategy: Breakouts
Loss limit:
- Per day: 60
- Per week: 120
- Per trade: 20
What is your edge? Trading Breakouts and predicting price movements using support and resistance.
Risk to reward ratio 1 to 1
Mechanics (entering orders, placing stops, etc.): Use OCO orders to set stops and target. Enter on market during a breakout or use stop above breakout point to capture breakout.
Core discipline principles
Trade only high probability trades. If I miss it then I miss it. There is no getting in late on a trade. Never re-enter the market right after a big win or loss. If I lose 3 trades in row then I am done for the day. If I have 3 losing days in a row then I am done for the week
1. I will NOT hit my loss limit.
2. I will NEVER add to a loser.
3. I will NEVER add to a position
4. I will stop trading if my Net P&L is greater than $100 and my Net P&L has pulled back
25% off my high watermark (Net P&L high of the day) for the day.
5. I will take at least a 10 minute break after a large winner.
a. Define what amount you consider to be a large winner: 70+ ticks
6. If I am down for the day, I will take at least a 10 minute break if I experience 3 losing trades then I am done for the day. If I have 3 losing days then I am done for the week.
7. I will always commit to my stops and will never enter a trade without having a stop in place.
8. When my trade goes in the money by 10 ticks, I will slide my stop to breakeven [at the very
least].
9. My largest winning day will be greater than my largest losing day.
10. Overall Average Win greater than Overall Average Loss
11. Overall Average Win Duration greater than Overall Average Loss Duration
12. Total Win % of 45 or greater
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