Shared by
Nanou2012
Trade Analysis
Technicals: At 4pm, I was expecting a reversal and had my eyes on the Hod at 72.92 but we did not quite reach it. I entered Short with 2 contracts at 72.60, added 2 at 72.74. For some reasons, it cancelled my stop and targets. I then added another long at 72.68
Outcome: Win. closed all 5 contracts simultaneously as I was reaching my maximum allowed profit for the day.
Post mortem: This trade had the perfect entry and had I not been limited to cap my profit could have made 1930 per contract as I type.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-12-09 16:01:35 | CLF3 | sell | $72.60 | short |
| 2022-12-09 16:04:16 | CLF3 | sell | $72.74 | short |
| 2022-12-09 16:05:33 | CLF3 | sell | $72.68 | short |
| 2022-12-09 16:09:45 | CLF3 | buy | $72.28 | 0 |
Comments
Nanou2012
Hi Kevin,
I am only trading profits on this account temporarily as it is a valuation account to access a $100K account with Take Profit Trader. They have a consistency rule which means one trading day doesn't exceed more than 50% of your total profits. I actually miscalculated and I could have taken that trade further down. Once the test is validated, I do not need to cap my profits.
Thank you for your comments, I had not realised that I was sharing my trades with the tradervue community. I usually post the URL to a discord channel for other traders to read and for accountability. I am going to be more careful of what I write going forward ;)
Kevinsethapun
Thanks for explanation!
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I'm curious why do you cap your daily profit?