G6E (Euro FX)
This G6E trade was entered using a tick chart with 300 trades per bar, according to the Rockwell Aggressive Tick settings. I used 10% of the Average Daily Range for my stop, and 15% of the ADR as my profit target. The Euro followed through on this downward move and I was able to reach my daily goal on the first trade of the day. I'm working on being more disciplined with my money management, and rather than continue to trade and rack up broker commissions and fees - I stopped trading for the day and closed Trade Navigator. This has been difficult for me to do in the past; however, keeping a calendar nearby and recording whether or not I reached my daily target is very helpful.
Using fixed-ratio money management and a delta of $2400, if I have about 8 days like this I am able to increase the number of contracts to the next level, thereby increasing my income. That is serious incentive to stop trading for the day and continue tomorrow with the same strategy. Do the math - if you trade conservatively in this way, and work up to level 3 or 4 in a few months a trade like this could really make your week! Just think about what this trade would look like 6 months from now trading 10 contracts or more...
By the way, if you're interested in learning more about how to trade this strategy check out the Rockwell Trading Rooms.
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