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25 Years & $100 Million Profits... A to your Q's, Today Only
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Quote from 9999:
Has your methodology changed significantly over the years or do the same principles apply? What was your worst mistake? When was your turning point as a trader?
Thanks for this opportunity.
1. Over the year's I've endeavored to simplify.
2. Same principles apply. Measured risk for potential of significantly greater [perceived, at least] profit.... stops always.
3. I don't know that I ever had a "turning point"... I was thrust into the responsibility of other people's money by someone else's incompetence, and I'd figured out some basics plays beforehand.
Quote from powerfade:
Would you characterize your swing entries as
1) based in whole or in part on technical indicators of the type that most people think of - some form of MA, ADX, CCI, or any of the other 'popular' indicators
2) based in whole or in part on those indicators that many noobs don't initially consider like VIX, TRIN, TRIX or on divergences between prices of individual instruments and one or more measures of group performance
3) based solely on analysis of price action as it's represented in charts - essentially, chart reading
4) Got to hell, that's the key to my profitability and I'm not about to tell you what it is.
1. The only "indicator" I use is the standard Stochastic. Reliance upon it is not heavy.
2. VIX is good at extremely high values.. and sometimes at extremely low values... but mostly is poorly correlative to trading buys an sells.
3. Chart Reading... TWO THUMBS UP!!
4. I don't have any secrets. KISS with stop discipline.
Quote from [Proximo]:
If you are a multi-millionaire why do you have almost 5000 posts @ ET.
Shouldn't you have better things to do with your time? This is a serious question.
1. My initial interest in ET was about hardware. If you care to peruse my posts I'm sure 80% is about video cards and setups.
2. I only make a couple of trades a day [and often none]... sometimes as many as 5, but I'm not manically buying and selling all day long. I have plenty of time to kill during the trading day. Besides, I don't try to "watch everything"... ET'ers post things they see which they believe might be significant and catch my attention.
Quote from shortie:
assuming one is a reasonably good trader (not exceptionally good, just reasonably good), how do the profits change as the capital grows?
is this a reasonable breakdown: 100K capital - 100% yearly return, 1M capital - 50% return, 10M - 30%, 50M - 20%?
With small money, you can trade almost anything. With big money, there are more restrictions, of course.
Years ago I did a survey of Audited Performance for various classes of 3rd Party money management... Individual Stocks, Mutual Funds, Futures....
The results were about the same for all classes.. though more volatility for futures.
<.1% had documented returns of 30%/year for 10 years. You could count on your fingers the number of documented track records of 40% from all classes.
20% return unleveraged is excellent work.
Quote from hypostomus:
Might I ask for what bar periods you found that to be true? My experience is different.
I didn't back test... only watched them for about a month. The correlation was low enough that I didn't bother further.
Every day, somebody would post S1, S2, S3, R1, R2, R3... never rang a bell with me.