Quote from OldTrader:
Excuse?
Last I saw, jagmot was +27 points using his version. A good result I think. Mainly a tribute to how he's managing his money I think rather than the "rule" itself. 5 right out of 12 if I recall.
As I read through the journal today, what struck me is that everyone understands the "rule" differently, which kinda verifies what I was saying....it's discretionary.
That said, let's see how jagmot's version does over a period of time. He's off to a good start.
OldTrader
Actually his money management sucks. Multiple times , 5 if i recall he let winners of 6 to 8 points turn back into 3 point losses. This alone is 15 points worth of losses that would have been avoided by using my money management. I never let this hapen when trading my version. My stop always goes to break even once the trade is more than 3 points in the money. He also always exits winning trades once they hit 10 points of profit even on obvious trend days where using trailing stops would have produced much higher point gains. There were 2 signals friday each good for 10 points each, using his rules that materialized after his 24 hour no trade rule. Why were those trades not posted ? Perhaps he was sick again such as the case was last monday. The simple fact remains that others saw and acted on those signals last friday and made money. Apparently "they" all saw the same thing.
Why do some see and others don't ?
I still don't have the answer.
