Saturday, March 19, 2016

Challenge #7 update: 2nd target achieved at US$ 15,000 - on to last target at US$ 20,000

This week we achieved the 2nd target on our 7th challenge, we reached the US$ 15,000 level and now on to our final target at US$ 20,000 trading 4 lots.

Most of the trades we take are scalping trades, we do not hold any position after market close, our targets are met just by scalping and day trading, we never take position trades.

I clearly show the entry levels in our trading room and confirm when my order gets filled so that the information I give is crystal clear for the traders who follow me, all entries are posted BEFORE the setup gets triggered.

For you to have an idea on how it works, look at this trade we took on Thursday for instance:

[Mar 17, 2016 9:57:14 AM EDT]    RenaTrader    GTS 2012.75

[Mar 17, 2016 9:57:40 AM EDT]    RenaTrader    GTS entry: Long 2013.25-12.25

[Mar 17, 2016 10:01:09 AM EDT]    RenaTrader    HARD STOP 2009.25

This is the way I make the calls on a daily basis, with clear entry levels and STOP, look how the trade was called minutes before we got filled, because timing is important to us. After getting in, we have rules for different styles of trading, some traders like to take profits at the initial target, others prefer to trail and only leave the trade if stopped out, besides that, we also have rules about how to hold or scale out, some traders will scale out as it goes up, locking in some profits along the way, while others will go "all in, all out", taking full profits only at the target levels.

When/if STOP LOSS is hit we get out without hesitating and wait for the next setup.

By the way, GTS stands for the type of setup we were taking, it was a day trade.

We do the same thing over and over again following the rules strictly, and we know that our execution does not need to be perfect for us to be consistently profitable, some traders might take profits early, but even those who do that (our minimum target is 4 points) are profitable week in, week out.

If you want to join us and learn how we do it, click here: Diamond Setups

Saturday, March 12, 2016

Challenge #7: 1st target achieved at US$ 12,000

After going a little down into negative territory on the first day, recovered on 2nd and met our first target on Challenge #7 - from US$ 10,000 to 20,000.

Now, we're pursuing the 2nd target at US$ 15,000, trading 3 lots, if we'd lose and went back down to US$ 10,000 then we'd decrease size back to 2 lots only and would start it all over again, until today that has never happened in any of our challenges though.

We've been trading using our Diamond Setups system for nearly 6 years now, I did not reinvent the wheel, I just created a set of rules that if followed with discipline will make us consistently profitable, we have no problem with the trades that do not work and we get stopped out, or when we miss some of the good trades, because we know that the trades we take will be winners most of the time, from every 10, 20, 50 trades our profits will be much bigger than losses, when we jump in a trade, we do not know whether it will work or not, so we just take the good setups, if they don't work as expected, we get out, when they do, we let them run to our targets, we're aware losing is part of trading and have no bad feelings when stopped out.

No matter what your experience in trading is, either as a newbie or a seasoned pro, join us to learn how we consistently make profits week in, week out.

Click here to go to our website: Diamond Setups