Ken: Mr. Master: where is your track record for swing trading?True re Pareto as in 20% of my trades generate 80% of my profits...
Literally lol re tiger, thx... my wife is looking at me like wtf
Daytrading the whole session versus calling it a day after reaching a profit target?
- Thread starter Howard
- Start date
How do you define range breakouts? Bollinger Bands? Pivots?
hi - per sec/cftc/ftc compliance regs i do not make any performance nor profitability claims of any kind; i simply publish my lessons learned, and examples of some of my wins vs stops. I believe most performance/track record claims by educators are total bs (unless supported by tax return proof) fwiw.
The reason I'm a top-rated TASC author & Moneyshow speaker, trusted by many, is I know how to trade and am honest. I'm not a master, I'm still, and always will be, a student of the markets. Good example today my inverse overnight positions in UVXY etc gapped against me so i'll take stops, while my TQQQ XOP etc gapped up, so i'll take profits.
hi - orb/open range breakouts i trade are moves up 9:30-10am on strong price action, usually 'out' 2day high or small gap up continuations
This is what has stood the test of time for me:
- 1 trade per day per market (enforces discipline)
- stop based on % of average range
- exit on close unless stopped out
Profit targets, trailing stops, moving stop to b/e, scaling out...all reduce returns. They feel good but cost money. Keep it simple. You need the 1-2 days a month where you nail a trend day from open-close. The other days are a grind of stop outs and small profits.
- 1 trade per day per market (enforces discipline)
- stop based on % of average range
- exit on close unless stopped out
Profit targets, trailing stops, moving stop to b/e, scaling out...all reduce returns. They feel good but cost money. Keep it simple. You need the 1-2 days a month where you nail a trend day from open-close. The other days are a grind of stop outs and small profits.
Here is my typical session:
1. No trading until 09:30 Est, no trading after 4:00 pm Est.
2. Emotions, reason and intuition are part of me and my directional trading.
3. I stop trading as soon as I become emotionally compromised (I am a fan..), as I already was around 9:38 this morning.
4. Repeat, when emotions, reason and intuition, are on the same (good) page, same day, same week or even same month.
Self awareness and self regulation are the key for me, and that defines the duration of my trading sessions.
1. No trading until 09:30 Est, no trading after 4:00 pm Est.
2. Emotions, reason and intuition are part of me and my directional trading.
3. I stop trading as soon as I become emotionally compromised (I am a fan..), as I already was around 9:38 this morning.
4. Repeat, when emotions, reason and intuition, are on the same (good) page, same day, same week or even same month.
Self awareness and self regulation are the key for me, and that defines the duration of my trading sessions.
I think it depends on the person. Some can trade their setups all day. I try to look for 1 or 2 setups in the late morning and late night.
It took me about a year before I could do a full session. In the beginning, I had to stop after an hour.
With the current market volatility, the past few weeks I've been trading the Shanghai, UK and US markets pretty much 24/5. I sleep between session, at weekends and when the markets are ranging. I set a loud alarm when a price level is hit to wake me up.
Diet plays a big role. During extreme times such as this I need to have adequate carbohydrates. A year ago when I was training, I was do 16 hour fasts and minimal carbs.
Refined sugar is a no-no and caffeine intake needs to be carefully regulated.
With the current market volatility, the past few weeks I've been trading the Shanghai, UK and US markets pretty much 24/5. I sleep between session, at weekends and when the markets are ranging. I set a loud alarm when a price level is hit to wake me up.
Diet plays a big role. During extreme times such as this I need to have adequate carbohydrates. A year ago when I was training, I was do 16 hour fasts and minimal carbs.
Refined sugar is a no-no and caffeine intake needs to be carefully regulated.
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Lately I've been trading most days all day, with breaks, because of the volatility.
Particularly important is midday S&P reversals like we had today. I scaled out of inverses right after 11am UVXY etc because I anticipated it.
I'm mostly cash tonight because the Democrats election is a wildcard.. like earnings release gap. If Bernie dominates mkts will likely gap down alot, Biden and smaller gap down or gap up. Unpredictable, I have no edge and I don't want to gamble. Cash is king.
Particularly important is midday S&P reversals like we had today. I scaled out of inverses right after 11am UVXY etc because I anticipated it.
I'm mostly cash tonight because the Democrats election is a wildcard.. like earnings release gap. If Bernie dominates mkts will likely gap down alot, Biden and smaller gap down or gap up. Unpredictable, I have no edge and I don't want to gamble. Cash is king.
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