i agree with you on the 8%, O'Neil has a stop where 12 hits in a role and his account would be wiped out....
Yes, i think 2 or 4 % is more realistic and less painful. Myself as a trader of the Es Futures i use what i call the 20% of the margin rule. So, say if the required margin on 1 contract is $500 (VELOCITY FUTURES) and each contract is $50 a handle, then the margin would be wiped out in a 10 handle move. Thus, if i use 20%, then a 4 handle stop and i am outta there. I try not to pick a trade if the stop is not within that area, using pivot points and moving avg crosses usually satisfies that requirement. I actually do not like to take losses over 6 ticks, but that is subject.
Now back to women and risk as some talked about......I am a fan of tennis and golf among other sports, but tennis and golf remind one of trading since they are "NOT" team sports, these sports do not require doing the jig in the endzone etc when one simply catches a well thrown ball.
These sports require also the mental individual having their head in the game. One or both of the William's sisters showed up at Wimbleton in what looked like black motorcycle queen's studded outfits. Now, "THAT" was a women taking risk... I mean how stupid can one get? The game progressed, Serena or Venus got some bad calls, A'HA, the risk was not paying off. The following trip to Wimbleton the sisters looked more respectable and within the accepted guidelines of the sport..:eek:
On another note of tennis: MaryJoe Fernandez was the announcer (i think, i recall correctly) and a good female player was having just a horrible set and losing big time. MaryJoe used the comment: "This is really bad, this gal is much better technically and physically then her game is today, SHE is just a "MENTAL WRECK". Psychology is in sports as it is in trading.....
Yes, i think 2 or 4 % is more realistic and less painful. Myself as a trader of the Es Futures i use what i call the 20% of the margin rule. So, say if the required margin on 1 contract is $500 (VELOCITY FUTURES) and each contract is $50 a handle, then the margin would be wiped out in a 10 handle move. Thus, if i use 20%, then a 4 handle stop and i am outta there. I try not to pick a trade if the stop is not within that area, using pivot points and moving avg crosses usually satisfies that requirement. I actually do not like to take losses over 6 ticks, but that is subject.
Now back to women and risk as some talked about......I am a fan of tennis and golf among other sports, but tennis and golf remind one of trading since they are "NOT" team sports, these sports do not require doing the jig in the endzone etc when one simply catches a well thrown ball.
These sports require also the mental individual having their head in the game. One or both of the William's sisters showed up at Wimbleton in what looked like black motorcycle queen's studded outfits. Now, "THAT" was a women taking risk... I mean how stupid can one get? The game progressed, Serena or Venus got some bad calls, A'HA, the risk was not paying off. The following trip to Wimbleton the sisters looked more respectable and within the accepted guidelines of the sport..:eek:
On another note of tennis: MaryJoe Fernandez was the announcer (i think, i recall correctly) and a good female player was having just a horrible set and losing big time. MaryJoe used the comment: "This is really bad, this gal is much better technically and physically then her game is today, SHE is just a "MENTAL WRECK". Psychology is in sports as it is in trading.....
