Well that was a little bit more straightforward and a chance to relax a bit as lesson was not quite as intense as the last few. My head was spinning and I woke up last night with fixed fractions, optimal fs and Volatility Indicators going around in my head from the previous lessons. Good information though and I am not sure how I will use Trade Management as there are positives and negatives to all approaches. Certainly do not like the sound of averaging down and solely scaling out does not suit my ideas of letting profits run to the maximum.
On saying that their idea of pyramiding in and scaling out does sound promising when combined as has a consistency of approach to it. Might try it on a few demos to see if it suits me or if I prefer to sticking to the set position size and closing it in its entirety when profit reached, or stop loss of course.
Quite happy that we seem to be done with the main trading management lessons and now on to the real System Plans now. Am looking forward to seeing how StraightForex approaches it and how they put the management strategies and early theory coursework into a plan to make a proper trading system. Quite intimidating as I need to apply all I have learnt to turn it into something that can be traded safely and profitably. Maybe intimidating is not the right word, perhaps apprehensive but excited at the same time. This is where the fun really starts!
To finish today here is the latest Market Report
Today's Stock Market Report
Helium was up, feathers were down. Paper was stationary.
Fluorescent tubing was dimmed in light trading. Knives were up sharply.
Cows steered into a bull market. Pencils lost a few points.
Hiking equipment was trailing.
Elevators rose, while escalators continued their slow decline.
Weights were up in heavy trading.
Light switches were off.
Mining equipment hit rock bottom. Diapers remain unchanged.
Shipping lines stayed at an even keel.
The market for raisins dried up.
Coca Cola fizzled.
Caterpillar stock inched up a bit.
Sun peaked at midday.
Balloon prices were inflated.
And Scott Tissue touched a new bottom.
And batteries exploded in an attempt to recharge the market...
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