Short Term Trading Weekend Lounge: 5 - 7th Jan, page-17

I don't mind throwing something out there.

I have been following the STT thread for a couple of years or so and the resources here really helped me develop my own trading style and become profitable.

But it is actually more than just being able to choose a good stock with an entry point, what is more important is to correctly position size your bet and manage the risk appropriately. When I see posters indicate they lost more than 40% of their account, then I know that they are not managing the risk properly and have too much money riding in the one stock.

The other important factor is to measure what works and keep a trading diary, that at a minimum measures size of wins, size of losses, number of wins/losses so you can calculate your trade expectancy and average win per dollar risked. Anyway, perhaps this detail will be expanded upon at a later time.

I don't think of them as resolutions, more as targets to be achieved.
Not everyone is comfortable with posting figures as everyone has different capital available to them and so I will stick to percentages.

I started with a set amount of money in Sept 2015 and by choosing a mix of shells and stocks breaking out from a trading range I have grown this at around 4.2% per month, which on an annual basis is around 70% per year. Better than cash in the bank but probably not as good as can be achieved in these good market conditions.

So my first target for 2018 is to aim to increase this return to an average of 8% per month. This should be possible by not letting stocks lie idle and also by cutting losses promptly.

My second target for 2018 is to post at least 52 tips to the STT Comp. and to maintain or increase my average win from 64.3% and to increase my accuracy above the current 34.8%. More tips at the current rates or better will increase my returns and so will assist in hitting the first target.

If any of the other frequent tipsters want to try and improve their results, then you already have an existing measure to better for 2018.

Let's go!