Grinding it out, day after day

Quote from TraderZones:

why do you need proof? the OP is not selling anything; and he is one of the knowledgeable people on this board.
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if traderzones actually believes someone, thats a good indicator he's probably not bs'ing
 
Quote from lescor:

I have a chart with a bunch of lines. When the price hits a line, I buy or sell, when it hits another line, I add. When it comes back and starts hitting more lines, I cover. If it hits the wrong lines I say "oh crap" and take a loss. The lines are just numbers I pull out of my ass that historically seem like decent enough levels to place a bet.

Seriously, it isn't any more complicated than that. Sometimes people way overthink things.
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Lescor, thanks for the answer. Can you tell a bit about your conceptual approach (for RTM strategies):

1. Do you scale in/out because you don't want to distort the market with your huge size? That is, scaling in/out only smoothly gets you to the position size you wanted to have originally?

2. Or do you add up to a losing position hoping that it will return back to profitable?

3. Or do you only add to winning trades?

Thanks.
 
My size on rtm trades is pretty small, usually a few thousand shares max. I'm not too concerned with distorting the market.

Adding and hoping is not what I would call a sound strategy. I add to positions as the odds of them being profitable increases, it's part of the system.

I rarely add to winning trades.
 
Quote from lescor:

Adding and hoping is not what I would call a sound strategy. I add to positions as the odds of them being profitable increases, it's part of the system.
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Do you believe that in RTM the further from the mean, the better are the odds, or this is not always the case?
 
Quote from bigb:

if traderzones actually believes someone, thats a good indicator he's probably not bs'ing
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most of the stuff here is bs and most of the traders are paper-trading dreamers, but that does not mean there are not a few who have a clue.
 
Lescor,

I would like to learn a bit about your money management. For instance, when you add to your position as it goes against you, do you use same size, bigger size or lesser size on the additions. Please give us some samples.

Thanks
 
I'm sorry Lescor,

...but something is not adding up to me. If your size on rtm trades are pretty small, and most of your trades are based on rtm, how can you pull $75k+ out of the market per month in earnings?

Are you trading a few thousand shares per stock, but a basket of several stocks at the same time?

Walt

Quote from lescor:

My size on rtm trades is pretty small, usually a few thousand shares max. I'm not too concerned with distorting the market.

Adding and hoping is not what I would call a sound strategy. I add to positions as the odds of them being profitable increases, it's part of the system.

I rarely add to winning trades.
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I never implied that was the only trading I do. The strategy I'm talking about averages less than $5,000 per month. A lot of my trading has rtm elements to it, but that doesn't mean I would call them strictly rtm strategys.
 
+2700 for the week, 218,000 shrs traded. Daily p/l +400, -200, -3200, +1700, +4000

Feels like opportunity gets less and less every day this market keeps grinding up, at least for what I do. Except for a couple hours today because the weather here sucked, I was done for the day less than an hour after the open this week.

I'm basically just putting in time until there's some kind of catalyst to get things going again. Been through these phases before and it's not worth stressing over. Tighten up the game, play defense, take the odd layup trade and just wait until someone turns on the money tap again. Trying to force things never works.
 
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