I figure I'm a good 2-3 years away from that point.
Has ET reached the Tipping Point?
- Thread starter Xspurt
- Start date
I figure I'm a good 2-3 years away from that point.
Another thought on this point - letting winners run can be extremely painful. This may be why the Guru of one of the most painful forms of trading (trend following) started a "tribe" just for the purpose of getting people to work on themselves enough to accept the situation and follow the rules of their trading systems.
I think it is individual. I do not belief in "rules", aside from a certain MAX loss per trade and not averaging down WHEN you already have a full position on based on YOUR risk per trade ( worst case).
Based on the chart/emotions i have a predetermined exit point for every trade. i have no "rule" as to where i may get out.
Everything changes as things unfold, i may decide to dump 1/3, half or 3/4 based on the feel of it and let the rest run. I may exit all at that predetermined point. I may dump 3/4 and get back in the rest based on how it got there and target the next area above/below. I may pull it all and add into a winner as it pulls back based on how it got there and look higher/lower on it all.
However.
I am content in taking my original exit even if it rips way beyond it. I know FOR A FACT, that one trade was just that one trade. I also know that there will be many more to come.
It is never the same on every trade.
I think "rules" limit trading, aside from what i mentioned above.
Quote from TheMan:
I will make ONE quality post just for shits and giggles.
1. Look left and trade right.
2. Trade other traders' emotions, DO NOT trade the chart.
Quote from college ruled:
Ok. What does this mean? Other traders emotions are reflected in the chart. How do you trade without looking at a chart??
Point me to where i said to not look at a chart.
ET fulfills it's niche.... the rough and tumble bar on the wrong side of the tracks....
all different characters.... playing cards.... shooting pool and smoking... there is no last call... the sheriff lets people sort out their own shit.
on the other side of the tracks are the happy wholesome bars.... no drinking or cursing allowed.... all sing kum - ba - ya together... disagreements are not tolerated.
everyone is free to choose which trader bar to hang out in after they get off work...
all different characters.... playing cards.... shooting pool and smoking... there is no last call... the sheriff lets people sort out their own shit.
on the other side of the tracks are the happy wholesome bars.... no drinking or cursing allowed.... all sing kum - ba - ya together... disagreements are not tolerated.
everyone is free to choose which trader bar to hang out in after they get off work...
Quote from Ol' Yella:
ET fulfills it's niche.... the rough and tumble bar on the wrong side of the tracks....
all different characters.... playing cards.... shooting pool and smoking... there is no last call... the sheriff lets people sort out their own shit.
on the other side of the tracks are the happy wholesome bars.... no drinking or cursing allowed.... all sing kum - ba - ya together... disagreements are not tolerated.
everyone is free to choose which trader bar to hang out in after they get off work...
Yip, it's developing that reputation and so it attracts the rabble that don't know enough to enter into a discussion without glassing someone when they get out of their shallow depths.
In the financial industry bucket shops of all types tend to go out of business and ET is becoming the bucket shop of forums. Good for a laugh but the decline in activity and quality doesn't augur well for the future of this spit n sawdust club.
Managing any business by letting whatever happens just happen can only result in an encroaching wilderness that leaves the weeds in control. Of course as an analyst there is a certain element of fun observing the tipping point effect in any business. ET has been great for me as I have met a few great friends here and established long term trading relationships, but that is much harder if not impossible for new members to do now. I think it will be sad when the fulcrum suddenly tilts and this place is left to a few bar room brawlers.
http://www.elitetrader.com/vb/showthread.php?threadid=249986
Weeds and worse. Sheriff is not around apparently.
Weeds and worse. Sheriff is not around apparently.