Chronicles of an Idiot

[TMTrader]

I see only one. My formula showed it's good only for 1.5 pts, plus it seemed (for now) like a counter trend trade, not very good set-up.

 

[AAAintheBeltway]

Quote from VisionTrader:

I wanted to put a plan out for all to see and comment on. This makes sense to me, but I would like constructive comments on whether this has any value.

Initial Capital for plan $5000. Trade (1) Contract.

For every $5000 that is earned, add a contract until 10 contracts can be traded.

This would equate to:

1. $5000 Trades (1) Contract
2. $10,000 Trades (2) Contracts
3. $15,000 Trades (3) Contracts
   and so on until...
4. $50,000 Trades (10) Contracts

In other words, in order to earn the right to add a contract the trader has to earn $5000.

Does this make sense given margin requirments, or is it idiotic.

I think whether or not this makes sense depends on several factors. Basically, I would regard this as the max leverage a highly experienced trader should use for a portion of his overall portfolio for day trades only.

 

[VisionTrader]

Stop 977.50

Out at 972.50 +3.75

 

[VisionTrader]

Quote from AAAintheBeltway:



I think whether or not this makes sense depends on several factors. Basically, I would regard this as the max leverage a highly experienced trader should use for a portion of his overall portfolio for day trades only.

Thanks. What would your recommendation be?

 

[VisionTrader]

Quote from TMTrader:

I see only one. My formula showed it's good only for 1.5 pts, plus it seemed (for now) like a counter trend trade, not very good set-up.

That's exactly why I did not take it.

 

[VisionTrader]

Stop 971.75

Sorry 972 stop incorrect. 971.75 is correct stop.

The stars and moon are lining up. I am looking for a fairly good move up here. Will attempt to manage my stop if it goes my way.

Everytime I say this. It goes the opposite way. Maybe you want to take an opposite trade.

 

[ElectricSavant]

Vision,

I would never fade the moon.....besides, I drew a lot of lines on my chart and one of them is correct.


Michael B.

 

[VisionTrader]

Quote from ElectricSavant:

Vision,

I would never fade the moon.....besides, I drew a lot of lines on my chart and one of them is correct.


Michael B.

Michael,

You have to have Vision.

Hope, Faith, etc., rabbit's foot, old coin, garlic, old sock, shamrock, 4 leaf clover, good dog, dry rotted t-shirt wife want's to throw out, etc.


Here she goes, Blast off Captain Kirk.

 

[TMTrader]

Good move on your part, I did not take this trade since I thought we are going to test 972 one more time - we still might.

 

[VisionTrader]

Quote from VisionTrader:

Stop 971.75

Sorry 972 stop incorrect. 971.75 is correct stop.

The stars and moon are lining up. I am looking for a fairly good move up here. Will attempt to manage my stop if it goes my way.

Everytime I say this. It goes the opposite way. Maybe you want to take an opposite trade.

Following the move up with my stop. If I decide to get out will post it. Now at 976.50

Out @ 977.25 for +4.75