A 70k bet that I can't make a 50% gain in 2009

Geez

Just wanted to commend you on the generous way you're running this thread and responding to questions! You are a gentleman!

The fact that your strategy also seems to be working, your money management works a treat and you always seem to be very helpful has not been lost on me:)

We are very lucky to be part of this.

I look forward to better understanding of your set-ups.

Best regards
 
Quote from ddaytrader:

I would add that his use of a hard stop in relation to his entry point to size his positions to remain within his risk parameters is most important to his success.





Stop and target are based on price action. His position size is determined by the entry and initial stop loss.

This is a very interesting journal. Geez demonstrates excellent control, both technical and psychological. If I were wearing a hat, Geez, I'd be tipping it to you.
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Well...thank you very much dday,
If I were wearing a tutu I would curtsey to you my good man.
 
Quote from Jegnyr:

Not to get into your SLF(s) time.

1-0 Period one interlude. Keep it up and you can steam roll into the next round!

And did I forget to say, how smart and beautiful blonds can truly be (Fine, Mr Geez told me to say it)................

The pollution continues.........:)
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Jeg...what a finish!!!
Not much better in sports than GAME 7
 
Quote from wolfpacker:

Geez,

Good work on your results thus far. You seem to have a good plan and keep emotions out of the trade. I was wondering what software you use to scan for your nightly and morning scans?

Wolfpacker
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No software wolfpacker,
I have a list of roughly 200 stocks I scan on scottrade(ugh)
I will add in stocks that I see moving alot on CNBC or read about (like pru unh mee stx ....etc)
In the morning I check the gap list and see if anything is setting up per my plan.
 
Quote from Jegnyr:

Not to get into your SLF(s) time.

1-0 Period one interlude. Keep it up and you can steam roll into the next round!

And did I forget to say, how smart and beautiful blonds can truly be (Fine, Mr Geez told me to say it)................

The pollution continues.........:)
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Jeg....trading rule #8:
No SLF's on monday.
 
Quote from AA48:

I disagree partially.I agree about the position size,I agree that the stop is based on price action,but his target is arbitrary.It could be 1.7 or 2.3.The "key" is that his target is always greater than the risk.So,Geez even if he has only 40% success would be still profitable.

Maybe sometimes his profit target is a little altered due to the presence of a significant support or resistance level.But,who knows in advance if these levels will not be violated?
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I will add my 2 cents into this "disagreement". The 2 to 1 r/r is based on my commission rate as well. If I didn't have to pay ANY commission I would shoot for 1.5 to 1.
It all comes down to what the best ratio will be for me to trade at a 50% avg. and make the best return with commission rates included.
 
Quote from ddaytrader:

I'm not so sure the "disagreement" is all that important. The position sizing is the key component of his trading success with respect to the relation between his initial stop and his entry. And, as you note, the second key component to his trading success is his disciplined approach that sets a profit target that is greater than his intial risk, and that he has the mental strength to allow profits to run to his targets while always cutting his loss at no greater than his inital risk level.

So whether, as you say, Geez's profit targets are arbitraily set, or as I suggested, that those targets are based upon prior price action, i.e. support and resistance, the result, so long as proper position sizing is consistanty applied, will be the same - a consistantly profitable trading program. The one thing that we can agree is not arbitrary is his position sizing. The number of shares traded is always based upon the size of the inital risk.

And no doubt we both agree that Geez has produced a very interesting and worthwhile journal.
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As to "part duex" of the disagreement (good work gentlemen..indeed).....
There are setups I see throughout the day that I DO NOT take because I feel the target I will need to reach compared to my risk(stop price) is not attainable. The way I come to this decision is by looking at prior support and resistance.
But, I do not put those numbers into stone. If , for instance I am long and my target is going to have to be 25.50 to reach my 2 to 1 ratio and the prior resistance is at 25.43, I still take the trade.
 
Quote from NoDoji:

Geez, I imagine had you been a member of the Apollo 13 crew, you would've been the one to bring them home safely with nothing more than pencils and duct tape.
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Nod,
I would be the first one saying:
"where are those extra spiderman underoos...I just soiled this pair!!!"
 
Quote from AA48:

I disagree partially.I agree about the position size,I agree that the stop is based on price action,but his target is arbitrary.It could be 1.7 or 2.3.The "key" is that his target is always greater than the risk.So,Geez even if he has only 40% success would be still profitable.

Maybe sometimes his profit target is a little altered due to the presence of a significant support or resistance level.But,who knows in advance if these levels will not be violated?
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I would agree with you that no one in our trading size knows if a sup or res level will be violated and even the big kids have dark pools to deal with.

I have the luxury of getting a front row seat to many of Geez 's trades and from my vantage point his targets appear to be very well thought out and planned. I would be very surprised to find that targets are picked with anything but a clear edge.

Respectfully,

RW
 
Quote from potemkinvillage:

Geez

Just wanted to commend you on the generous way you're running this thread and responding to questions! You are a gentleman!

The fact that your strategy also seems to be working, your money management works a treat and you always seem to be very helpful has not been lost on me:)

We are very lucky to be part of this.

I look forward to better understanding of your set-ups.

Best regards
More...

ooops potemkinvillage,
Don't read the last 2 (or so) pages.....will get back to trading now.
 
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