My trading style is more about riding on trend moves. There are many many ways to turn a profit on the markets, but that is one I feel most comfortable with. I risk about $100, to make $100, with about an 70% chance of success. It's not the fastest way, but just my pace. I am in it for the consistent, steady profit.. not the speedy, fast, 'make a thousand dollars per second' kind of trading..
With all that said, however, I felt like trying my hand at making some quick profit with today's choppy, non-trending market.
So I just took a chance, got in, shot my shot.
this first trade is my usual, go with the flow style. It it did hit and finish with that profit.. then great! I am happy with that and would call it a day.
That isn't what happened tho.. price headed UP and stopped me out, so I said ok, how about I try again, but with even MORE contracts now..
I felt the market was moving all choppy, so I went with it. All I needed was for price to go DOWN a bit.. not even very much at all.
You can see here how I have multiple trades running, and I am just watching the overall p/l.. once it shows over $200, I will just close everything at once, manually.
It didn't take long at all..
Price moved down just a bit and the profit was enough for me. :)
The risk with this way of trading is that price could suddenly spike in one direction (the wrong direction, NOT the boy band) and then you would be stuck in a big loss.
Plus, one needs to actively monitor the trades.. I much prefer to set it and forget it.