A very powerful fut's strategy

[buylo]

Ooooohhhh..........It's ADD when bad not DON'T add when bad.

 

[FanOfFridays]

Quote from ProfitTakgFool:

If you put 2 carpenters (same saw, same piece of wood) on a compound mitre on a piece of crown molding you will get 2 different looking mitres.

lol... better stick to Martingale gambling systems. You obviously never handled a piece of wood in your life.

 

[ProfitTakgFool]

And....I was a winning trader before I started doing this. I had a 65% win rate and I was generated a decent yearly profit. I really started to make money with I began using the DD. I would never have even attempted this if I didn't have that prior track record. It's a dangerous strategy if you don't know what you are doing.

Knock it all you want....I laugh my way to the bank everyday.

Quote from whitster:

for pete's sake, this is the opposite of prudent money management. it is ESSENTIALLY a martingale type strategy.

which, as another poster pointed out - which works until it doesn't

if you have positive expectancy setups, you don't need to (nor is it optimal) to keep adding on size when you have a losing trade. the idea is absurd. yes, the market is (generally) a regressing to the mean market. the problem is - if and when the bottom (or top) falls out (as it does sometimes) you end up with massive losses.

if you are a good trader, you can develop setups with high enough expectancy that you don't have to do this doubling down rubbish. you can make RANDOM entries and make money with this double down method - for a while. until you get wiped out. it's gambling.

that's all you are doing.

the idea that you think the market is random (which is absurd), shows that you don't understand the market. if it WAS random, no trader could develop setups that work.

work WITHOUT doubling down over and over until you show a profit.

i might add

i LOVE traders (and i use that term loosely) like you. you are the gamblers that MAKE the market so predictable. that ensure wonderful cascading price action when you get margin called, stopped out, forcefully liquidated.

you might as well just send a bunch of traders your money NOW. save the middleman (CME). the result will be the same

 

[ProfitTakgFool]

My first job was a carpenter. I was pretty good at but it was too much like work. I had to find something a little easier, like trading.

Quote from traderNik:

lol... better stick to Martingale gambling systems. You obviously never handled a piece of wood in your life.

 

[ProfitTakgFool]

It's time to post a closing thought and let this thread die.....it seems the majority of the people (seems to be around 95%) who responded to this thread don't think it's a good idea but the minority do (that leaves 5%). Do those numbers look familiar?

It's not my intention to rip anyone, especially those who are losing -- I've been there! The sole purpose for this thread was to give people something to think about, if they were open to it. If not, and what you are currently doing is pulling in profits, then cool!

Until the next controversial thread....later all!

ProfitTakgFool

 

[nkhoi]

thank for some out of the box thinking.

 

[HolyGrail]

Quote from ProfitTakgFool:

.....it seems the majority of the people (seems to be around 95%) who responded to this thread don't think it's a good idea but the minority do (that leaves 5%). Do those numbers look familiar?

ProfitTakgFool

95% of people think shit stinks. Does that make them wrong?

 

[FanOfFridays]

Quote from ProfitTakgFool:

The sole purpose for this thread was to give people something to think about

So you wanted everyone to think about the Martingale system for gambling?

It's a pretty well-established idea, but thanks for bringing it to the attention of the newbs. It will allow them to blow out a bit faster.

 

[rcanfiel]

Quote from ProfitTakgFool:

It's time to post a closing thought and let this thread die.....it seems the majority of the people (seems to be around 95%) who responded to this thread don't think it's a good idea but the minority do (that leaves 5%). Do those numbers look familiar?

Yes. 5% have no clue about Risk of Ruin. And the Pied Piper wishes them to learn about this early, so they can get their first account blowup out of the way

It's not my intention to rip anyone, especially those who are losing -- I've been there!

Then don't teach people how to rip their account

The sole purpose for this thread was to give people something to think about, if they were open to it.

This has done people a major disservice, but you seem to have cotton in your ears. The day of reckoning is usually when the big one gets away from you. Others. especially new traders should completely ignore this entire logic, and use viable trading methods.

 

[Pa(b)st Prime]

Quote from traderNik:

So you wanted everyone to think about the Martingale system for gambling?

It's a pretty well-established idea, but thanks for bringing it to the attention of the newbs. It will allow them to blow out a bit faster.

I literally cracked up......