If you use stop losses then you are essentially gambling
- Thread starter wxytrader
- Start date
Some are true experts, true professionals and if you can differentiate between them and us pretenders, you will derive great benefits from hanging around.
I learned a lot by hanging around and am on my way to the other side.
Good Morning wxytrader,no no no...no diversification. I have no interest in trying to maintain delta neutral...like get off the fence lol. I prefer be completely exposed directionally. That way when the market goes my way I maximize profits.
So lets summarize my trading style.
No stops
No diversification
No risk management other than averaging down.
(Only indexes/ETF's!)
I would bet at least 98% of traders would disagree with this style of trading, yet I am the one driving a (2008) Lambo, so I guess the 2% thing is true.
I love it.
Which index and ETF are you trading this way?
If this man has a Lambo, it's because the parents bought him one, or because of a lottery ticket/crypto luck.
In October he blew up a 900$ account on 0.0002 BTC trades...
In January he preached how you could make a ton on dividend stocks.
Now it's the no stop loss fantasy, on indexes too! How would you put a stop loss on a index?
He preached options have a negative expectancy and they are a losing game.
He talked about credit vertical spreads on SPX with x3 return on risk....
Fantasyland.
In October he blew up a 900$ account on 0.0002 BTC trades...
In January he preached how you could make a ton on dividend stocks.
Now it's the no stop loss fantasy, on indexes too! How would you put a stop loss on a index?
He preached options have a negative expectancy and they are a losing game.
He talked about credit vertical spreads on SPX with x3 return on risk....
Fantasyland.
No risk = No Lambo.
Best comment on ET in a VERY long time.
Well VSTScalper had some good stuff yesterday too
I like your no stop strategy, I been doing it the past week. Took a big loss yesterday, but still up. I like it.
Much easier to do from historical charts than doing it real time.
It is OK, none of us started as expert traders. If he keeps at it, one day he will achieve "generational wealth" (using @newwurldmn's definition), not just Lambo successes.
It takes time to turn the corner and you won't turn the corner without experiencing some failures.
What I like about @wxytrader is he can think out of the box. If he is more receptive to suggestions he will go far.
I was a failed day trader back in 2010 but found my niche in options a couple of years later because some kind ET posters helped me.
Now, many kind folks like @volpri, etc.... made helpful suggestions to help me and I am forever thankful.