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I trade futures, not stocks . . . but can still recognize the point of view of successful stock traders. Most the replies to the OP’s question(s) have everything to do with trader behavior and psychology, not of much use imo – that’s newbies being newbies. For example, leverage...

20 years? You are indeed 100% newb my friend. Quit dinking around with this finra stuff . . . go set up an account and trade your heart out on a simulator. The best advice any decent experience trader will give you right now is . . . quit trading real money! You aren't ready and it will...

They don't. There's nobody in this group who is a "career trader". The rest who claim they do are usually on a simulator or trading between coffee breaks, so they don't get flagged anywhere along the way. Not to mention we're only talking stocks. There are plenty on this board who have given...

That’s a good question . . . and if the calculations can be squared away, that’s what this thread should really be about. Interestingly enough, in the example presented by the author, which is probably a typical setup for a lot of traders (try to hit 67% of first target, etc.), the...

Check me here, but I think your loss needs to include 2 contracts, so it should be a 33% of losing 2 x 8 ticks. If you change that, I think you get -.99 as well.

But once that first target is hit, a favorable outcome (reaching the second profit target) can be calculated as a ratio of all possible outcomes. In this case, there's only one other outcome that makes up the total number. So, intradaybill, not sure if I'm reading your comment correctly . . .

Anything in trading is possible for a short while. Suggesting that it's possible to make 10% per week as a general expectation is not realistic and a real trader definitely knows that. The OP even states "I . . . consistently do about 10% performance per week". To the OP, if you are...

These kinds of posts do nothing but jack with the new guy's perception of reality in this business. Or in this case, the absence of reality. Keep trading.

Quote from AIMHIGH520: $250,000.00 minimum. Anything less and you are doom to failure. Maybe so, but it's the best answer I've heard thus far. The amount of capital you need is a factor of 1) how much you target to make and 2) your skill level - ie, leverage. The new guy, assuming...

Why Is The Obvious Not So Obvious? Is this a trick question? How clearly can this be stated . . . It's all obvious ! Why are there overweight people who don't want to be overweight? All that is need to be known is known. Only after many trial and errors (some people call it...

Spreadsheet mentioned above . . .

In his article, Gutmann calculates “expected values” for a number of trade scenarios and exit strategies. Again, to keep it simple, we’re only talking about the trade scenario previously mentioned (two-tiered scale strategy). Based on an initial stop loss risk of 8 ticks, a first...

The Trade As one thinks mathematically about how a trade can pan out, one approach is to think in terms of probabilities of success for each leg of a trade. For example, one common trading approach is to enter a trade with two contracts then manage it like the following (same theory can be...

I have a question that may seem quite the boring topic on the surface, but focuses on one of the most important aspects to trading that we all tinker with all the time – the exit. I want to know if the results in an article by Michael Gutmann called “Calibrating Profit and Loss...

Then I guess you really don't add much more value than Alex afterall? . . . so you must not be that different. At least Alex plays the system to turn a profit, not to "just hang out". And you?

Statement couldn't be more true. That unequivocally takes option #4 off the table. And rightly so. Their are trading pros and there are trading chumps. There is no in-between in trading. You are either a professional or you are lucky. Risking capital that you cannot afford to lose is not...

I have a Sprint Aircard that I've used quite a bit. Even with Verizon, you won't notice much of a difference compared to cable. I wouldn't trade a high-volume, automated system on it. But for those of us who are entering order manually, the network latency is immaterial.

The reason most people find it difficult to trade from both directions is because they don't alter their targets for each scenario. If you only use one timeframe, then "counter-trend" movements, by definition, have less reward for the same risk (your risk really shouldn't change just because...

Where does this exist? Trade somebody else's money and keep the loot? Surely we all would have signed up by now if this were readily available . . .

If you have an opportunity to join a hedge fund to employ your ideas (and get paid), then you should take the opportunity imo. It's a remote probability that this single "system" is the last or only trading approach you will use or develop. Intellectually, you probably know that. Emotionally...