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You must agree teaching and midwifery are respectable professions? You've most likely encountered them both, and it's these two professions that have played roles in making it possible for you to contribute here. If you're in pursuit of a career as a respectable trader then shouldn't it follow...

You're right, that was the question. Put another way, there's a lot of sentiment on reducing risk, but not so much (that I've seen) on optimising it for maximum account growth. At the extreme end the trader who risks 'too much' could blow up his account 3 times and still come out ahead of the...

I had been edging towards this kind of thing, which does seem practical. Going a step further there's prop firm (trainee) like risk levels: $25, $50, $100, $200, and so on. The levels can increase like this while there's cash on the sidelines to boost the initial account. Like you say the...

I didn't take offence, but thanks anyway. It's like I've found a friend at a new school. Participating in forums like this is new to me. It's a validation service if nothing else.

Fair LOL. What I saw was a setup that justified those numbers. It's possible or probable I was looking at a different time frame that had little or no bearing on your overall strategy. It's a good thing this is an ongoing conversation. As an example, with a 0.25 win rate, 1:5 risk:reward...

Jack, A bang for buck response, critical but fair and may even have been enlightening. I accept your criticism about technical targets. It's like going to the beach after learning the weather forecast, which predicts rain at 3 pm. At 3 pm there isn't a cloud in sight, yet I leave anyway.

You said go figure. You post in the ES journal, which gave me an idea of the types of setups you trade and hence the reason for your 100%+ years with 0.5% risk.

Thanks, ES on my screen. I see.

Thanks, glad you think so. I was doubting its usefulness and still am, but at least a bit thought provoking (for some). So basically, smooth equity curve => more predictable / less chance of horrible drawdown => more risk allowed. Not sure if you meant the variance of reward size or...

Unfortunately I can't edit the poll, otherwise I'd add those three. Other options include: - "a margin call from my broker" - "I'm a vendor; other peoples' shattered hopes and dreams" - "Nothing, I just keep holding 'til it comes back" - "Uh-oh, little green bar turn into big red bar"

jack hershey, I appreciate your feedback. I'm not sure our perspectives are the same. I swing trade and typically hold for a few days, so managing a number of positions isn't (hasn't been so far) a problem. I don't micro manage intraday. I gather you're capturing moves lasting minutes...

I must admit I didn't read the thread, but did see James had posted in it (so had the opportunity to defend himself). I simply linked to it because I thought it was relevant. For the record, I enjoy his articles, but thought his recent one (linked at the start of this thread) was below par...

Who did I attack?

There is a thread titled "Did Altucher fail as a trader?": http://www.elitetrader.com/vb/showthread.php?threadid=239100 It's not really a question we need to dwell on.

It's a losers game for the majority, not for those who can do it. It makes sense that you won't make a lot of money if you day trade once in a while. But it sound like you're profitable. A 1, 2 or even 5 pip spread is fine. Just define a strategy that takes this into account. I agree, a...

I particularly like:

He was the number 1 search result for "suicide" or some related term like "suicide failure". Not sure if that says anything about his trading, but he certainly is manic. (Not meaning to be derogatory, he seems like a nice chap.)

Weak article. Popular blog though, which gets about as much traffic as Elite, believe it or not.

actionzip54, I think good advice, thanks - certainly not planning on risking more than 1% any time soon. I take your point on a 20%+ whack! Not sure if this is common but I know of at least one hedge fund that resets all trader accounts at the start of each year (I must have read this...

For entertainment purposes... 23 monitors: http://www.elitetrader.com/vb/attachment.php?s=&postid=3741038 From the "Pictures of your trading stations" thread: http://www.elitetrader.com/vb/showthread.php?threadid=43661&perpage=6&pagenumber=641