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So preferring not to scale-in/scale-out of trades = trying to be right more than trying to make money? That's just silly.

Non sequitur. I'm trading to make money, which requires trading a system that suits my strengths and weaknesses, last I checked.

Thanks look forward to seeing any examples you wouldn't mind sharing. I'll post some chart examples too.

I do like this advice in principle, but I've never taken to situational sizing. I find it very messy and hard to track, so all my trades are at the same size, because at a certain point I'm just like if you trust the decision, you should trust it at any size, no? But your point about the only...

All of this makes sense, thanks fellas! I guess I'm striving for something in-between all out scalping and daytrading. I average 3 trades per day where I hope to catch the longer all day moves and ride out the noise, but I gotta acknowledge my strengths and weaknesses: balls out scalping doesn't...

Getting back in at smaller size is an interesting suggestion too. I think you're right that it's ultimately gotta suit me. My discretionary exits generally suck which is why I systematized them, but I'm just tired of giving back so much in choppier markets I guess.

Is that the hamster wheel of bad discretionary decisions?!

I hear ya there, but by the time I'm sure what shouldn't have happened happened, as you nicely put it, I've usually given back enough already that I may as well just stick with my original stop. I'm just trying to find some way around that problem.

That's really clear and to the point, thanks! I feel like my question is now fully answered.

Like the phrase downward stutter, I'm stealing that! I hadn't thought about it in conjunction with sizing/scaling before, that's interesting. My few attempts at scaling-in were so clumsy that I never even bothered experimenting with scaling-out. I use what I call a "hopping stop" now (not...

Daytrading question I'm really stuck on related to profit-taking, and the perennial catch-22 of "letting runners run" without giving back too much of your profits when the runners come up lame. What I'm wondering is does anyone here employ a re-entry strategy to work around that problem? What...

To appropriate a little advice from the cinematic masterpiece "Tropic Thunder," you never ever go full kelly! Edward Thorp cautions against this strongly in his chapter of "Hedge Fund Market Wizards."

Also great advice, thanks! From backtesting, it would have performed very well last year, well the first half of this year too, so I feel like that's a check on bull and bear, and I think it performs decently in trap situations because the SL hops once I gain an amount of cushion. It's...

Smart advice, thank you! Reason I'm asking, I'm considering switching from stocks to futures in a few months, the added leverage has me understandably spooked.

In a row, of course not, but my system tends to be a fairly reliable 65% win rate. I've yet to have more than 2 full losses in a row since I implemented it, however, that's only a few months back. Related question: is there a golden number for the amount of time at which point you can trust...

I was about to post a similar question: Maximum loss of total equity per trade. If I have $100,000 in my account, am I insane to try any strategy which requires risking over 2% per trade (2,000)? Bearing in mind I'm a daytrader, not a swing trader, but I currently cap my full losses much lower...

What are you trying to say there?

Gotta love the esprit de corps in this place!

He's the author of "No Country for Old Men."

Posts like the one you're responding to are why God invented the ignore button. You a Cormac McCarthy fan?