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<i>"however, if the market were to go down another 60 points, one would continue doubling at 20 point intervals which would bring the position of 32 contracts long at -120 points which would be the equivelent of a 1100 to 1200 drop. Now in order to be able to hold over night and not get a margin...

<i>"I wonder why is that? Why would they limit a client to bet using this system. Wouldn't allowing him to keep on doubling flash all his money???"</i> Saxon, I wasn't disparaging you in any way! What I said was not at all personal... it was merely emotional fact. You have elected to trade...

<i>Well, I am thinking what is going to happen if this thing is going to hit my circut breaker and I am going to be - 16 cars. paranoid, you betcha."</i> Saxon, you are asking how to think like a methodical trader when in reality you are trading like a martingale gambler. With all due...

<i>"I tried exactly what you suggest I'm missing and I can tell you it simply didn't work but perhaps we could agree on something else. There are as many ways to trade as there are traders and because one trader is not successful trading without stops doesn't prove or even suggest another is...

<i>"Of course that could always be proven wrong with real-time results in the P&L thread. Simple enough.-------->>> I've posted enough of my results on the various threads of ET. I have no intentions of making a commitment to the P&L thread and if you don't believe I'm as profitable as I say I...

<i>"Same thing goes for the trend systems."</i> wrong

<i>"Your stops are directly related to the time frame you're using for your trading style..."</i> effective stops are also directly related to how good your trade entry technique is. The better you are at determining entries, the smaller your effective stops will be. If your entry method...

counter-trend systems always go bust, sooner or later. They work well during finite periods of price consolidation. Once the inevitable directions take hold, counter-trend traders enrich directional traders.

<i>"The only reason traders use stops is to avoid the big one. What they don't realize is it's not the big one that will kill you -- it's the 1000 little ones. Avoiding the big one can be solved with extreme patience."</i> Dead wrong. It is most definitely the big one(s) that kill most...

<i>"That is why there are market studies to see what works and what does not, instead of having a theory. Some people use them to avoid things that are useless. Others don't get it. Seriously. That is why 95% of traders lose their money. They use beliefs instead. So long"</i> rcanfield...

<i>"I've had some epic blowups. They're tough to deal with especially when a few hundred traders are gossiping about it. If anyone here doesn't think it could ever be them then you're not opening your mind fully to the realm of possible outcomes."</i> One of many turning points in a trader's...

<i>"No-one is going to put up capital AND trade it for you AND trust the system AND trust the porgramming skills of the developer without getting a decent handle on the rules of the system. I know my firm wouldn't!"</i> Which of course leads into a few other pitfalls as well. Many if not most...

<i>"i'm a living breathing cautionary tale. the good news is that i have decimated this acct to the point that margin requirements will make it nearly impossible (but, hey, don't count me out- i can do it!) for me to match the 6 figure loss unless i add to the acct..."</i> Reality check: if...

<i>"Quote from austinp: <b>Next up is a powerful dead-cat bounce. The Dow will rally +1,000 index points off its intraday low by the closing bell. It will hit 10,000 level soon after that.</b> The newfound permabears will be shorting all the way up... getting creamed to the same extent...

<i>"have any of you 'lost it all' and totally broke down to realize that all you had built your life on was meaningless? and if so how did it affect your perception of loss and your performance as a trader?"</i> Something like that happened when I went thru divorce. It does change perception...

+62pts ES... all but +15pts past 2:30pm est This was practically stealing... short squeeze was expected all the way, and came right on schedule. Last out was ES 918, expect the daily pivot at 942 to be hit but I'll forego any further adrenaline rush today.

<i>"I have never seen anything this bad..."</i> In which case you weren't around in 2000 or 2002. A few of us were... we've seen this before.

Next up is a powerful dead-cat bounce. The Dow will rally +1,000 index points off its intraday low by the closing bell. It will hit 10,000 level soon after that. The newfound permabears will be shorting all the way up... getting creamed to the same extent they did on the way down while...

<i>"This is getting eerie though.... I might have to convert this cash to shotguns and cans of food if this gets much worse!!"</i> I've got plenty of firepower and stored foods here for all of us... bring the cash and c'mon over (laugh). Yesterday I shorted and shorted and shorted until...

<i>"this just sounds a little wack."</i> No it ain't... Dustin is being honest with you. My point is, experienced traders can handle anything. Traders with less experience may not handle current tape violence well, but that doesn't mean they have no hope for long-term success. This...