TOTW What's the best trade you ever made?

My last one @ 5.

EU, 1m TF.

Came after 3 consecutive losses, I was very slow to redefine the condition after 2 and got sucked in with 3 and 4.

I realised I was not reading rightly and I adjusted myself to the actual conditions technically and mentally..... before the break up, she had a false break below the lower trendline (see the white pin bar). Previous to the false break, bulls were making HH's and HL's against the barrier.... soon after the pin bar a false break out a W pattern, I was gently no waiting but present, as soon as she broke and completed the first bar I entered, many bears had to cover......and they joined me to my way to profit....
 

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It may not have been the best trade I ever made but it was the best surprise I've had to date:

I've day traded equity options for many years, always with a rule of starting my day in cash and ending in cash - never holding overnight. I recently entered a trade in the early afternoon on a Thursday before expiration, a long call with all my conditions being met for a bullish run just prior to the close. However, it stayed in a tight range the rest of the day. I had to be on a plane the following Friday morning and would not be able to manage the trade. I decided to hold it overnight and set up the exit with a tight stop and a 5% profit which I thought was very conservative and basically a wash.

I got off the plane Friday morning and checked the results to find the stock had gapped significantly up, blowing past my limit order before it could execute and returned to me a 289% profit on the trade.

My trip was to attend a Cystic Fibrosis fundraiser I had been invited to by a friend who is also the Chairman of the regional chapter. We had an excellent weekend and the foundation received a healthy donation from me, courtesy of the win.
 
Any FX trade with an RR of over 5 is good - especially if its completed in under one hour.

In last 3 years had 2 longer term trades that made RR's of over 170 in under 3 months - trouble was both not on original opening stake size - but down to 30% and 15% size - still - they stay in my mind amongst the thousands of trades taken in between
 
Not my best in terms of $ gained, but rather in timing.

Gold was going crazy back in 2011. I had been watching it for months along with a couple of other traders I was hanging out with at the time as it wound its way up. Along with silver, people were just going bonkers. We had the presence of mind to recognize this as one of those instances where a bubble was in the making and price was going up purely on emotion.

So I waited for the right time and saw it stalling around 1900. Once it sold off, I put on my short position and exited the next day positive.

I actually didn't make all that much on it, but was really happy I'd nabbed the tail-end of a crazy move. Good times.
 
Today - I'm long dow and holding for 600 points before New year. :D
 
Best trades are the losing ones, in which you manage to mitigate at best, the negative outcome (loss).
 
rawrschach said:
ignorant question

as long as you follow your rules there can be no 'best' trade.
Click to expand...

Unfortunately - ignorant answer

When you become an experienced trader - you have no set targets

You place stops in profit and let trades roll and go with moving the stops up hourly daily weekly or so on according to your market reading

I am a Intraday short term trader - 90% of my trades never make over 50 pips on the FX markets intraday

However - I have had several trades making over 500 pips and one over 1000 pips.

If I kept to basic standard rules - then I would not have had those "better results"

Dont worry - I am still learning after 13 years

Any Guru who might have taught you that as not been trading over 8 or 10 years - still has more to learn - I just hope you did not pay for any advice

Good Trading


F
 
I didn't say anything about targets. My point is that the outcome of the trade is irrelevant and the measure of a good trade is how you manage it, which, if you stick to your rules, means there can be no 'best' trade.

Outcomes are nothing but variance and you have no control over them. Saying you have a 'best' trade because it made you x ticks is delusion.
 
rawrschach said:
I didn't say anything about targets. My point is that the outcome of the trade is irrelevant and the measure of a good trade is how you manage it, which, if you stick to your rules, means there can be no 'best' trade.

Outcomes are nothing but variance and you have no control over them. Saying you have a 'best' trade because it made you x ticks is delusion.
Click to expand...

My rules are my best pip / earning trade can be more than it is as of today.

I might get a new record in 2015 or 2016 - or never beat the one of 2014

I only count money as my aim / achievement - but its obviously related to number of pips and size of stake

Good Trading

Regards


F
 
That's more of an aim than a rule.

If you're a successful trader you can't tell me you don't have rules. If you make a trade with a high return but take stupid risks in the process then it is not a good trade, regardless of outcome.
 
rawrschach said:
That's more of an aim than a rule.

If you're a successful trader you can't tell me you don't have rules. If you make a trade with a high return but take stupid risks in the process then it is not a good trade, regardless of outcome.
Click to expand...


My risks are fixed for every single trade I ever take

ie stops 3 - 7 pips from trade entry

My stake size on large capital account now never over 1%

On normal capital accounts under 25 -30k - 2% stake fine - but only if in one trade - if multi trading and have 3 trades open at same time - stops must be in profit

So I fixed rules in stone - but with floating dynamic rules for outcomes- so a 5 pips stop might make a RR of 3 - or it could make a RR of 30- or even 300 - but then on only part stakes


Regards
 
precisely, so e.g. if you follow your rules and make -2 one day and +300 the next, objectively both trades are as good as each other.

But if you one day let the trade go 20 ticks offside, average into the loss, risk 20% but make your biggest profit that is not a good trade.
 
rawrschach said:
precisely, so e.g. if you follow your rules and make -2 one day and +300 the next, objectively both trades are as good as each other.

But if you one day let the trade go 20 ticks offside, average into the loss, risk 20% but make your biggest profit that is not a good trade.
Click to expand...

NO

Objectively both trades of minus 2 on day and 300 + the next day are not as good as each other??

i go on dollar / pound results - thats all I trade for. So minus 2 pips loses me money - dollars / pounds - and 300+ make me money. Money is my objective achieved within my rules. Rule number 1 - dont lose money - Rule number 2 - always follow rule No 1

Both trades are entirely objectively different as far as I am concerned - even if i kept to my rules on both of them. If you look upon it like that - then change your rules ?

And then I would never be in your last alternative - so cannot have that scenario ?

I am purely on about FX Intraday multi trading - so you may be looking from a different perspective

Regards

F
 
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