Down to about $90k, where would you park it if your trading skills were trash?

[TrailerParkTed]

Yeah because I schooled them on options...jk yeah they know their stuff when it comes to vols but that ain't going to get you 2008 Lambo money. Stocks are the one thing where you don't have to be a professional to beat professionals. My very first trade I bought 5000 shares thinking it was $5000 and my entire account was in a trade, and it was down so I said f it, and a week or so later it got bought out...boom! 70k lol

In no other profession is that possible...you aren't going to beat a pro golfer, or tennis player no matter what...but a newb can beat a seasoned professional trader anytime with sheer stupidity.

Dustin posted $300,000 days, I don’t know his style other than making lots of cash. Lord Dest conquered the Source Wall.

 

[vanzandt]

Hello vanzandt,

Sorry for the late response. I been busy man trading and clicking trying to get rich and working on algo development to get me rich. I normally click for 3 hours a day and check on algos.

Man, I do not know what you talking about all that C sharp bullshit. NT8 allows you to code whatever you want man. It is not that serious. I actually do not like all this damn coding, but it helps to keep me diversified in my trading. Just go build you an algo man and get busy. What you talking to me for with all this coding crap?

Man go trade and click and back test and get rich.

If you think I do not know how to program/code, that is your business. I do not care, you not paying my bills. You guys really think I be worried about yall talking about. My development below proves otherwise.

Go help the OP


View attachment 333875

Hello Simplelikeme....

fwiw, i defended your ass here on ET in another post... while others were piling on and mocking you as if you were a fool.

Why's everyone pinging on SimpleMeLike lol.... no one's gonna buy his "algo's" (if that's what they're called). Leave him alone. He's harmless.

Now what were you saying?
Don't look a gift-horse in the mouth homey.

 

[semperfrosty]

Ahem...20% ROI. I would rather take a huge paper loss and average down than take numerous small realized losses every time the candle dips and stops me out before a big move up lol. Trading or investing I am not using stops...I have run the numbers and they are deleterious to profits. Stops do nothing more than create liquidity for large orders...that is their true purpose being peddled to retail as a necessary evil to prevent huge losses lol. Bottom line they do nothing AH anyway when everything happens so a moot point. That said, of course I am not going all in with a single company...always etfs or I'd scale down bigly.

My experience is drawing me to this conclusion too.

I think set and forget trading with tightish stops is almost the number 1 reason for retail loss and thats how they want it.

I dont have the answer though.With experience and skill you can recalibrate whilst in the trades and avoid the stop out and immediate move in your original direction but it is dangerous.Either way,like it or not,if youre in a fresh trade,you need to be watching.

Most money I've ever lost is setting a stop to allow me to go to sleep.

 

[SunTrader]

My experience is drawing me to this conclusion too.

I think set and forget trading with tightish stops is almost the number 1 reason for retail loss and thats how they want it.

I dont have the answer though.With experience and skill you can recalibrate whilst in the trades and avoid the stop out and immediate move in your original direction but it is dangerous.Either way,like it or not,if youre in a fresh trade,you need to be watching.

Most money I've ever lost is setting a stop to allow me to go to sleep.

What I use - but within TradeStation:-

https://corporatefinanceinstitute.com/resources/equities/chandelier-exit/

but as you put it, you need to be watching, not sleeping.

Much better and more importantly sustainable than just getting used-Lambo lucky.

 

[SimpleMeLike]

Hello Simplelikeme....

fwiw, i defended your ass here on ET in another post... while others were piling on and mocking you as if you were a fool.



Now what were you saying?
Don't look a gift-horse in the mouth homey.

Good Morning vanzandt,

Yes, I understand.

ok everyone, lets go trade the ES futures market now and make alot of money man.

We finish this discussion later on today and play around.

 

[Frederick Foresight]

That is the worst advice ever. Cutting losses is realizing losses versus using the opportunity to lower your break even and maximize gains.

Kind of like driving faster when you're lost?

 

[wxytrader]

Kind of like driving faster when you're lost?

Exactly, but in a 2008 Lambo.

 

[deaddog]

I think set and forget trading with tightish stops is almost the number 1 reason for retail loss and thats how they want it.

I think the number 1 reason for retail loss is traders who let small losses turn into big losses.

 

[wxytrader]

What I use - but within TradeStation:-

https://corporatefinanceinstitute.com/resources/equities/chandelier-exit/

but as you put it, you need to be watching, not sleeping.

Much better and more importantly sustainable than just getting used-Lambo lucky.

No, you should be sleeping not watching.

 

[semperfrosty]

That is the worst advice ever. Cutting losses is realizing losses versus using the opportunity to lower your break even and maximize gains. You guys aren't driving Lambos because you are thinking like retail bitches. You think I was selling Bitcoin when it dropped to 3k? Lol no I was loading up and averaging down and boom! 2008 Lambo

You don't enter a trade thinking "oh no if I'm wrong and the price drops I better cut my losses boo hoo."

You enter saying I think this is a good entry and a good starting point to average down from should price drop further. You should be literally hoping price will drop so you can leg in further and increase potential profits. There is no right or wrong, just managing expectations.

I think the number 1 reason for retail loss is traders who let small losses turn into big losses.

Have to agree with this too,of course.