It would be better if you could tell us why trading decades ago is different than now, rather than just saying that they are different.
Does it ever make sense to have a risk-to-reward ratio of 2:1?
- Thread starter nwoptions
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It would be better if you could tell us why trading decades ago is different than now, rather than just saying that they are different.
Read the books Market Wizards and the story about the Turtles. In that period very simple strategies worked without any problem. There was no internet, so the only information that was available was there fast for the professionals and days or weeks later only for individual traders. People who wanted to trade forex received quotes that were even 20 pips away from the market price. So they could never compete against the professionals. Friends called me, as I was the only one with realtime quotes, to check the quotes they received from their brokers. They were robbed even before they sarted to trade.
I rented a Teletrac in the early 90's for 1,850$ + 21% taxes a month. Datafeeds from Esignal were 185$ + 21% taxes a month. Except from the professionals nobody could afford that. In my country I was the only private client from Dow Jones Telerate at that time.
Nowadays programs are almost for free, internet is very cheap and gives the same information at the same time to small traders. Opening an account is much easier, and minimum account size is much smaller. Etc...
I was already daytrading before you could read or write.
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Depends...…………………………………………………………………………………………..
He shorted his superstrong longs on a 50-200dma cross+ made money ONLY 2 out of 7 years.But those were bear markets+most have never ever traded 7 years of bears.
Sorry your link does not work[cbs + npr are about the worst anti capitalist liars I ever saw/heard.]
BIG problem with canslim=Mississippi is # one in obesity + NOW HAD A 3% VIRUS KILL RATE;+ I NEVER actually COULD FIND A CUP WITH HANDLE EXCEPT IN HIS 500+ PAGE BOOK/SYSTEM.
NEVER hold a $10 stock into earnings; unless its in a etf basket+ has strong earnings.
I seldom pay attention to his put call ratio, on his SP 500 chart/but that is really not part of his 500+ page system / its newspaper windrow dressing/LOL
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OK;
fractions,
$00/.25 bid ask;
commissions for almost all were sky hi, like tech in 1999.
And Carl Ichan was much younger; he may or may not live another 60 years--I hope he does...……………………………………………………………………………………………………………………………………………….
And its easier to short; safer to short 'cause we have etfs/may or may not be easier to make a bear profit/inverse.
Mr E/turtle teacher is rightabout win %;
but that's for long trend following/profits/billions...……………………………………………………………………………..
You know, a lot depends on what strategy you use and with what capital and under what conditions you are working at the moment. Previously, I thought about sticking to the chosen strategy under all circumstances and not going beyond the accepted limits, because it is a direct increase in risks. But over time, I realized that sometimes the market dictates unexpected conditions and sometimes it's really worth taking a risk and not doing what is "right", namely the way you feel and it will bring you much stronger and more confident results, which will be your incredible achievement. So I think you just have to give yourself time to get used to it and understand when you can break the rules.
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Consistently breaking the rules can be fine;
especially if it was not much of a rule to begin with/LOL
As far as letting the profits run= is among the best rules;
but if they are dumb enough to start a trade war+ i'm in an alien[non resident country heavy etf ] ; tighten stop + if stops are hit means/ EXCEPTIONS TO ANY GOOD RULE.
Most any rule works well in an up trending bull market;
unless your sec charges risk to profit ratio,is goofy, as many but not all daytrades are...…………………………………………………………………………………………………………………………………………………..
Thank you.
Still, I think that you should work with only minimal risks and even when you think that the market is perfect today, I still stick to these things, because I think that this is the opportunity to save your money and avoid significant stress, which is inevitable when you try to earn all the money at once...
I think that greed is what completely destroys a trader's career or any business career at all, because it leads to excitement and unjustified decisions. And if you do it often, you will most likely quickly lose not only interest, but also money...
Business has to be structured and clear...
I think that greed is what completely destroys a trader's career or any business career at all, because it leads to excitement and unjustified decisions. And if you do it often, you will most likely quickly lose not only interest, but also money...
Business has to be structured and clear...