Dumb luck..........?

Scataphagos said:
1. I never heard "duration trumps direction".

2. I don't believe in "targets" as a successful way to trade

3. Trading properly, an ES play is better than "50/50".

Bottom Line... to avoid catastrophic loss, you must have some way to limit your downside... stops, hedge, whatever.
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Good Job
Good Clear Post
Thanks
 
MACD said:
OK -- Attack if you wish. This is why it is of no value and often a waste of time posting here.
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I really didn't even see any attacks. You kind of asked for it saying you don't use stops where in reality you use different kind of stops, no? Unless you found a way to hedge for free?
 
qlai said:
I really didn't even see any attacks. You kind of asked for it saying you don't use stops where in reality you use different kind of stops, no? Unless you found a way to hedge for free?
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Please let's now not go to semantic Wars. OK, you're a Winner! Peace and Blessings. (Yes I have found a way)
 
MACD said:
Please let's now not go to semantic Wars. OK, you're a Winner! Peace and Blessings. (Yes I have found a way)
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Dynamic Hedging. (Lot's of info on the internet -- some good, more bad info)
 
murray t turtle said:
Having blown up one account, myself [small time frame trading] that should be a word to the wise, risking too much. On the bright side Stanley Drunkenmiller blew up an account also, so things can get better.:caution::cool::cool:
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Didn't know that Stan Druckenmiller blew up an account. I know George Soros blew up his own personal account at least once before starting Quantum.
 
MACD said:
It is called Dynamic Hedging. If done properly there is no need for stops. I do understand your cynicism as well as skepticism -- used to this and expect it. I assume you mean that without stops you would certainly lose often and lots of money. If you are not trading as I am that would be true. Taking a long or short position (eg: ES future Long) is, as you know a "50/50 Bet". Most will enter long or short with a Risk vs reward of say 1:2 using a stop limit order. May work for you and others. Does not work for me. I do not use stops which often stops one out with a loss because the stop ("was not well placed") or their Risk vs Reward was incorrectly made. Perhaps they were scalping for just a few ticks and want to do that many times a day -- does not work either. One determination that I make before entering any trade is what is my target and long it will take to get there. I am sure you gentlemen have heard the saying, "Duration Trumps Direction". This probably does not give you the answer you were fishing for but it is not easy to "compete" for Love in ET.

If you know Dynamic Hedging that is what I am doing. Not my invention. Paid $3500 for a 1-day course to learn it from a mentor. Happy I did. Thanks.
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You just gave me some ideas. Thank you.
 
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