stuartjohnston1981

Platinum Jan entries (new strategy compared to old strategy)

Education
NYMEX:PL1!   Platinum Futures
Trade 1

Target is 2 x the size of the candle (this strategy already appears to be more successful) = 973.8
entry is 1/3 of the size of the candle =958.2
stop order = 956.8

Trade 2
Target = 999.4
entry 983.5
stop order = 975.2

Trade 3
Target = 988.2
entry = 979.2
stop order =973.5

Although the targets are smaller, they are easier to accumulate over the time period, as they have all succeeded. Using pips will also be easier to analyse when it comes to my monthly profit/loss analysis.
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I stuck to my original strategy. I already appear to be struggling to achieve my target. Perhaps from now on I should stick to a no. of pips based target than a % based target.

Trade 4
Entry = 1002.2
Stop Order =994.1
Target (4%) = 1040.4

The reason why I placed such a high target was that the trend was so bullish, 3% was already achieved by the succeeding candlestick, I therefore increased my target by an extra 1%.

I also indicated other suitable entries. Platinum is certainly an area I will take a great deal of interest in.

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