If you use stop losses then you are essentially gambling

[Overnight]

Just think about that? Man, I am over here at a big booty fine ass woman house right now chilling drinking Hennessey while she over there getting drunk with just panties on and Bullshitting with you.

Proof that you are not real.

Bombastic shit, man.

Where is your journal? Oh, you do not have one.

 

[ironchef]

Simple Like Me went from "I can't make money trading, but one day I will, whatever it takes" to "I have a profitable algo to sell you"....

Like in @schizo's "What was your a-ha moment" thread, @SimpleMeLike had his "a-ha" moment?

I had my "a-ha" after I re-read the thread "Why Is The Obvious Not So Obvious" in early 2023 when I decided to try day trading again.

 

[Buy1Sell2]

I use stop losses on every trade.
I don't think of it as gambling. I prefer to think of it as risk control.

Take the Vegas situation. It's the customer vs the casino. Both are playing the same game. On any one spin of the wheel, pull of the handle or deal of the hand, you don't know who will win.

Do you think the casino is gambling?

Agree-----Prudent Risk Management is the only true edge in trading.

 

[cesfx]

Proof that you are not real.

Bombastic shit, man.

Where is your journal? Oh, you do not have one.

 

[TrailerParkTed]

Agree-----Prudent Risk Management is the only true edge in trading.

Watching the kids on Reddit Yolo, it sorta temptation to me but I know the eventual outcome.


He’s one of the best or was.

 

[ironchef]

Hello ironchef,

What does stop loss policy mean?

No, I do not place a stop loss. I enter the trade when I feel like, and I exit the trade whenever I feel like it.

I do not have rules, or setups or none of that bullshit fancy stuff. I do not back test, journal, read trading books, research stuff or non of that stuff.

I just make money.

You got out while the trade was losing, by definition you "stop" loss?

 

[SimpleMeLike]

You got out while the trade was losing, by definition you "stop" loss?

Hello ironchef,

Forget all that fancy talk.

Did you see @Buy1Sell2 say nearly 1000 times over the last 10 years that risk management is the ONLY edge.

I follow what he says in my trading and know how much loss is too much loss for me too take, then exit the trade for a loss.

Prudent Risk Management is the only true edge in trading.

 

[TrailerParkTed]

Hello ironchef,

Forget all that fancy talk.

Did you see @Buy1Sell2 say nearly 1000 times over the last 10 years that risk management is the ONLY edge.

I follow what he says in my trading and know how much loss is too much loss for me too take, then exit the trade for a loss.

Prudent Risk Management is the only true edge in trading.

Very wise advice indeed! Prudent risk management allows us to fight another day.

 

[ironchef]

Hello ironchef,

Forget all that fancy talk.

Did you see @Buy1Sell2 say nearly 1000 times over the last 10 years that risk management is the ONLY edge.

I follow what he says in my trading and know how much loss is too much loss for me too take, then exit the trade for a loss.

Prudent Risk Management is the only true edge in trading.

Walk like a duck, quack like a duck, it is a duck.

Prudent Risk Management.

 

[ironchef]

Hello ironchef,

Forget all that fancy talk.

Did you see @Buy1Sell2 say nearly 1000 times over the last 10 years that risk management is the ONLY edge.

I follow what he says in my trading and know how much loss is too much loss for me too take, then exit the trade for a loss.

Prudent Risk Management is the only true edge in trading.

And sometimes I also buy1 & sell2.