For you guys that think we are not going further south...?!?!

NoahA said:
With such a high win rate, how much are u betting per trade?? The compounding effect in your account should have u extremely rich in only months.
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i'm betting $5k - $30k per trade using the martingale strategy. if u don't know what is martingale, google it.
 
vincentnyc said:
i'm betting $5k - $30k per trade using the martingale strategy. if u don't know what is martingale, google it.
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Very aware of what it is, thanks. It makes more sense now how you can have so many winners. And I do think it works in most cases because eventually price retraces enough if you keep scaling in for a BE exit at least

But have you ever been caught on the wrong side that isn't letting up? Maybe u have a rule about stopping and reversing? Or maybe you take a big hit every now and then? I wouldn't mind seeing a sample chart with how you do it if you don't mind. I see the power of this myself to be honest. Almost every trade that is a loser, I analyze, and I see that eventually, with scaling techniques, it can be fixed.
 
NoahA said:
Almost every trade that is a loser, I analyze, and I see that eventually, with scaling techniques, it can be fixed.
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Except for that time that it can't and you blow up your account. When you start to execute your trades so that you can get back to break even you're in trouble.
 
deaddog said:
Except for that time that it can't and you blow up your account. When you start to execute your trades so that you can get back to break even you're in trouble.
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A simple max stop fixes this, or simply go flat EOD. Market rarely moves in a straight line. Yes, sometimes is goes up 50 points and just ranges. But so, so often, there is at least a 50% retracement somewhere.
 
NoahA said:
A simple max stop fixes this, or simply go flat EOD. Market rarely moves in a straight line. Yes, sometimes is goes up 50 points and just ranges. But so, so often, there is at least a 50% retracement somewhere.
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What is a max stop? How does that fix a broken trade?
I'm not daytrading. (Takes up too much of the day with way too much stress)
Sorry Noah but I forget what instruments you are trading. We've mostly discusses crypto.
 
NoahA said:
Very aware of what it is, thanks. It makes more sense now how you can have so many winners. And I do think it works in most cases because eventually price retraces enough if you keep scaling in for a BE exit at least

But have you ever been caught on the wrong side that isn't letting up? Maybe u have a rule about stopping and reversing? Or maybe you take a big hit every now and then? I wouldn't mind seeing a sample chart with how you do it if you don't mind. I see the power of this myself to be honest. Almost every trade that is a loser, I analyze, and I see that eventually, with scaling techniques, it can be fixed.
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yes i have been caught in a few times these past weeks. beside trading the spy full time...i also have a full time 6 figures IT jobs and doing food delivery with door dash/grub hub on the side. on a few occasion, these past week. i got caught in a big size entry and it went against me. i was trading between sqqq/spxl. i forgot which one i got caught...and it was late in the morning. then a food order came up on my phone and went to do the delivery and i came back in the after noon. i went from mega red to green of the day. i told myself i won't do it again and wrote it on my journal. i was lucky as hell. i broke this rule a few times these past week and it went from mega red to green. so for me it is still work in progress.
 
deaddog said:
What is a max stop? How does that fix a broken trade?
I'm not daytrading. (Takes up too much of the day with way too much stress)
Sorry Noah but I forget what instruments you are trading. We've mostly discusses crypto.
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I can show an example later today when I'm home. Clearly you don't want to be caught on the wrong side of the market too often, but the ES, and NQ especially rarely move in a straight line.
 
NoahA said:
I can show an example later today when I'm home. Clearly you don't want to be caught on the wrong side of the market too often, but the ES, and NQ especially rarely move in a straight line.
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I'm questioning a MAX stop. Does your plan have more than one stop? A MIN stop that you plan to ignore if the trade moves in the wrong direction.
By the sound of it once a trade hits the MIN stop, you add to it and increase your possible loss.
Is Max loss predetermined or when the pain gets unbearable.
 
Martingale Strategy doomed to failure in trading: there is fundamental difference between gambling vs speculating. That applies in long run, as any idiot can have a fairly long string of wins, regardless of the strategy.
 
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