Out at 46.03 for gain of .19
CL Journal
- Thread starter Buy1Sell2
- Start date
If the market is a long term buy as you're claiming, and you're a long term position trader ... it doesn't make any sense that you got out here, when nothings changed. It means you're just shooting from the hip with enormous stops, and no clear picture.
I also would like to say that trailing stops can be absolutely disadvantageous, as if you were to trade double/treble bottoms/tops you should know what is the average expansion range and stick with your position as long as your stop holds. Settling for peanuts is for monkeys. 'Profit is profit' mentality is for folks that accentuate value of higher win rates, rather than concentrating on extracting maximum profit.
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The guy got 19 ticks profit and had to suffer an unrealized drawdown of God-knows-what. Stop chastising him for it. I do not know what his position size was, but yeah, the whole
mentality works great for most people.
Do not care about what you "could have made", just care about what you "did make".
There is nothing wrong with taking profits early. They are PROFITS. Huge wins are just fuel for an ego-driven fire that will get quenched when the huge losses come in. This is trading 101 guys, come on!
Rookie mentality right there. If your SL is larger than your profit target you'll be taken out eventually. Buy1Sell2 does not have a high win method, so it's vital to have the right targets vs SLs. Now this is trading 101.
Have you ever pondered why 99.9% of sports tipsters can not sustain a positive equity curve in their calls? Because they either tip at odds that are too low (below evens) or too high. Now this here are results from a tipster that tips from 3.0 to 6.0 odds, I believe the image is self-explanatory.
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And on the flip side, if your profit target is larger than your stop loss, you'll be taken out eventually. This is trading 101 also.
Nope, I cannot say I have pondered it. I have no idea what a sports tipster is, but it sounds like a gambler betting in sim mode. Except, trading is not gambling. It is trading.
Yawn, what's this drivel about gambling? O...M...G! You either know how to extract value (whatever you are backing) or you don't.
FWIW this "gambler" has 10k real followers that make lots of money, lose some, win some, end result - net positive.
The difference between gambling and trading is...Trading has no fixed house odds. Gambling does. You dig?
No. Gambling is when you are chancing it, trading (whatever you are backing, be it tortoise races) is when you have stats, experience/knowledge, capitalisation, don't treat each bet as THE ONE, know what's attainable, fully understand & implement risk management criteria.