This is the main plan. Don’t be to shocked if you come here and see that something has changed, that the point of all this. My main goal at this point is to grow my trading account. I’m not trading for a living but to create wealth.
Goals:
- To grow my trading account.
- To learn about myself and the world of trading.
- To learn the skills needed to trade my account as it grows.
- To come up with a defined trading plan.
- Learn about how to capitalize on the cycles of my personal trading, Equity Curve Studies.
- To play the game the best I can every day.
Performance Goals:
- GIR at 55% – or Greens in Regulation; this is my Batting Average or # Wins/# Trades.
- FIR at 1.5 – or Fairways in regulation; this is my Profit Factor or Avg win $/Avg loss $
- Score at 20 R or 5% growth per month
Basic Risk Control:
- 5% Drop Rule: If my account drops by 5% within two trading days I will shut down all positions and take one week off from trading. This is my reserve chute.
- 5% Max Account Risk: I will keep my overall account risk to less than 5% o my overall account. As I move stops up on the trades it will not be counted towards my overall risk.
- R Level: I will base my Risk as 1% of my account on any one swing position
- My goal is to get my R Level to 2%. It will move up .2% every time I grow my account by 20%, if my account drops below these growth levels I will drop back to the previous R Level.
- Numbers of Positions: I will set my account up to hold 8 swing positions. This is the account size divided by eight to see max amount to allocate to any one swing position.
My Trading Mantra – Stop, Plan, Focus
Side Rules:
- A break of ANY risk control or equity curve rules forces me to take a week off all trading.
- No new trades can be placed without my homework done.
- No new trades can be placed until my trading journal is updated.
- No Putt Plays on Monday or Friday
Hunting R 