Search results

Yes, as we go about our entries and exits we are next to nothing, the market will do what it will do regardless. But we need to reconcile the fact that although the market by default has only one eventual path, there are a multitude of different ways to trade. Meaning, there are choices that...

Trading your own account is a game unto itself. We may share the same checkerboard and pieces with trading opm but the two are not nearly as close as they would appear to be. For the individual, percentage return is a completely useless gauge; compounding is also a concept irrelevant to a...

Assuming this is true (who's delusional? :)) is probably the only way my argument holds -- that is, the market will not know whether you have 500 or 2000 shares. Therefore sitting for a 1.5pt move is far less risky than 3, no?

Sorry for the misunderstanding. For me, I've never really thought to myself "hey, I think I can get 10 pts here, so let me widen my stop to 3". Aside from accomodating the inherent volatility of a higher priced and/or thinner stock, I try to exit any losing positions as quickly as I can. The...

I never thought things would get this "personal", the intention from the start was just the setups but I have so much history of boom/bust that I figured it must be something else. I will keep focusing on that separation because it just feels like the right direction; I think taking on too many...

It's a good point, but then let's take it a step further. You enter in with your initial 500, and it starts going your way. You are presented with an opportunity to add or pyramid up on a winner. Your current target is 3 points but you think: ok this trade is working, 3 pts is likely where it...

Aren't pairs trades assumed to be mean reversals and rising volatility/headline risk will just work against those? Isn't the question like asking how to hedge a long position when the stock keeps dropping? Or am I being to simplistic?

Not too many "float" at 100k for 10 years straight, it's the nature of the business. You either grow bigger or grind down to 0 -- and start a chat room :)

You guys don't get it -- do you really think he's been pulling in a steady 100k year in, year out? Wouldn't your opinion be alot different if he was making 500, 300, 200, 0, 0, 0 ,0 ,0, 0? If not that extreme, wouldn't it be alot more realistic for something similar?

Therein lies the challenge. You're absolutely right that cutting one's position size is the best way to deal with discipline issues and redirect one's mentality back on course. But currently I'm on a path that's pushing in the other direction, for better or worse. Reducing size is the...

Exactly- why bother to operate a chatroom if you can actually trade. If they actually came across something that worked, they'd probably shutdown in a week. 100k per year avg probably = 500K for 99 & 00, then zilch since then.

That would never occur to me, your advice is always spot on. Discipline is a muscle that needs to be exercised daily -- it is definitely not my strong suit. I'm imagining myself walking away from the screen frustrated and deep in the red -- and breaking into a bit of a sweat already. It...

That's the hardest part, to walk away. It needs to be instinctual, an understanding that a discretionary trader cannot function with a frustration-warped perception. It may take me longer than most to step away from the screen, but I definitely have a better grasp of when I'm off and adapting...

P/L for this week: -5,300 on 376,000 shares 0, 0, -5,+5,-5 A relatively quiet week, yet a poor performance considering a position held from last week (and still holding) netted me nearly 10k for the period. I raised my max shares per position in order to trade a few single digit stocks...

Gonna zero in on these 2 (good) points: "The system determines the target, not your position sizing." "Change in Risk = Position Size Change" Ok now let's change things up a bit. Same situation; however this time you're not sure what the target would be. All you know is because of X...

I thought it would be easier to present the issue in a hypothetical: It's a slow and sunny afternoon, perhaps a Friday before a 3-day weekend. Many traders have already left their offices to get a head start on the traffic. You see a setup, a signal, a breaking headline -- something...

RN, Tis an honor to have you lay out your mental framework here. Again I need a day or two to absorb all that you've written. Everyone is welcome to ask questions of redneck and hold discussions here. I do think you may consider starting your own journal-thread, I know I'd be one of the...

Like ammo mentioned, I really do try to tell myself each morning that all that I need is *one* good setup each day, to not push or force anything when nothing is there. Truly believing this is the foundation to remedying the issue. I'm also trying my best nowadays to restrain myself from the...

I usually cannot fully apply and stick to a rule until I absolutely comprehend the logic behind it, the "why" of it. If for example I find that I almost always lose money on Fridays, or between the hours of 12-2, or trading after hours -- I could never just declare a day or time of day off...

Today there was really nothing that cried out clear and loud for an entry, yet somehow I managed to post my highest volume in a week. But actually, this is typical of my trading if I'm not careful; it's only recently I've realized the reason why my volume has a strong negative correlation with...