anyone here making 7 figures a year doing this?

[schweiz]

First, the market doesn't go down anymore for any extended period of time. (half joke)

Except when "exceptionally" or "by accident" or "by surpise" it does happen. It does not have to be for an extended time, even a short agressive move can do the job and ruin you. You are NEVER sure it will not happen, actually you are sure it WILL happen one day.

Second, there is stop loss.

Correct, if the stop is respected and really executed (hard stop, not intentional stop). A stop will reduce the damage but you are never sure the stop will be the maximum loss. Depends of speed of the market.

Third, there is averaging up.

That is the perfect argument to explain why you can be wiped out, so not a good argument for proving safety rather the contrary.

Fourth, take only short positions with the big size if you are afraid of quick down movements.(dangerous in this environment)

The fact what you "think" is irrelevant, the market will do what the market does, no matter what you "think". So there is no objective and sure method to proof that what you "think" will happen in reality. If what you "think" would always happen, you would be filthy rich. It is better to always be afraid, it keeps you alert.

 

[tomorton]

Except when "exceptionally" or "by accident" or "by surpise" it does happen. It does not have to be for an extended time, even a short agressive move can do the job and ruin you. You are NEVER sure it will not happen, actually you are sure it WILL happen one day.


Correct, if the stop is respected and really executed (hard stop, not intentional stop). A stop will reduce the damage but you are never sure the stop will be the maximum loss. Depends of speed of the market.


That is the perfect argument to explain why you can be wiped out, so not a good argument for proving safety rather the contrary.


The fact what you "think" is irrelevant, the market will do what the market does, no matter what you "think". So there is no objective and sure method to proof that what you "think" will happen in reality. If what you "think" would always happen, you would be filthy rich. It is better to always be afraid, it keeps you alert.

All good points except for your caution re averaging up. This is a great way to compound the power of an original position that is in line with the market's direction of travel. The real risk for me is risk of loss of account capital - hard to see how averaging up becomes more risky in this context than just a single trade in that market. I'll bet you've read my summaries of how to do this but I can elaborate as needed.

 

[spy guy]

No, a forum is like a market, like an exchange. You give something, you get something else in return. Supply and demand. What a new trader demands is the supply of information to help them trade. What an experienced trader demands is more detailed knowledge of finer points of trading I suppose you could say, but ether way, information is the currency.

Like in a market, if you don't hand over currency, you don't go home with anything except the money you came in with. Pretty much a wasted trip. Have you considered you might be a time-waster?

I like to tell people what I trade "spy options" it creates more volume for what I trade, which is selfish of me. but I also tell how I trade which does not make them an instant winner, my method of trading cant be taught because I trade by feel or instinct by watching the movement of the market, it is something that has developed in me after years of trading. I would like to help other traders so they did not have to learn the hard way like I did but some parts of trading cant be taught

 

[spy guy]

I asked for a single name here worth following and none was offered.

I guess there is no one. Shame . But no surprise

I don't follow any one trader, I follow the market and try to get in tune with its movement

 

[volpri]

I asked for a single name here worth following and none was offered.

I guess there is no one. Shame . But no surprise

I guess you will have to chase your own tail! ROFLMAO...NOW THAT is fuuu..nnny! LOL.

 

[volpri]

well, one can help the lost souls with the direction , but what wanbees really need is not just direction but the know-how, the training, the teaching, the coaching, etc etc otherwise most will never ever make it: "The bridge is just too far"

There is an old joke:

One sees a guy looking for something under the lamp post.
-What are you looking for?
-I just lost the key !
-Where did you lose it?
-Over there, - says the guy, showing somewhere into the darkness.
-Then why do you look under the lamp post?
-Because there is a light here.


Incidentally, the first stage of the road is behind, when the wannabe trader stops looking for profound answers on the forum.

Then why ..oh why ...you be here “Mr.. Keyhunter” (as I now dub thee)....

 

[schweiz]

All good points except for your caution re averaging up.

I agree with you. I read averaging DOWN, so my bad.

 

[schweiz]

Then why ..oh why ...you be here “Mr.. Keyhunter” (as I now dub thee)....

I understand qxr1011 and have the same opinion.

 

[volpri]

I understand qxr1011 and have the same opinion.

Birds of a feather flock together.......

 

[schweiz]

Birds of a feather flock together.......

I agree with this posting too.

But what you wrote is valid for you too...