Let's Trade III, by Sicktrader

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Quote from sicktraderII:

First I do have losing streaks. If I said losing three in a row is rare, perhaps that was the wrong choice of words. Losing say 6 in row is rare, but it will happen.

To answer you question though, I lower the number of contracts as I fall. If I had 15K, then 6 losers would put me in the neighborhood of 9K-10k
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How so?

$15K, 20 Lots:
Loser 1: $100X20=$2000, now trade 17
Loser 2: $100X17=$1700, now trade 15
Loser 3: $100X15=$1500, now trade 13
Loser 4: $100X13=$1300, now trade 11
Loser 5: $100X11=$1100, now trade 10
Loser 6: $100X10=$1000, now trade 8

So your losers total $8,600, which brings your account to $6,400. Or do you use a method of scaling down faster?
 
Quote from sicktraderII:

Stay tuned. I'll be showing more than statements.
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No problem. You've had a day of results now its time to document them. Its very easy to do so as nearly all clearing firms send out a daily P/L report.

In order to remain interested, I do need to see some sort of commitment towards proper documentation. After getting through the pages of crap/spew in your journal, its going to be tough to follow you for much longer without some sort of transparency.

Mike
 
Depends on how you define "edge" HOWEVER unless a system has a positive expectancy to begin with, there is no MM that can make it profitable over the long run.
Quote from jmonday:

Money Management can definitely be an edge.
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Quote from jmonday:

Money Management can definitely be an edge.
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Only in the minds of hopefuls & paper traders.

Money management is not an edge, it is a basic requirement for a profitable strategy.
 
Quote from sicktraderII:

LOL. I started this thread because I was bored, and I have helped people out before on other sites.

For what it's worth, I consider myself a gambler and not a trader. Perhaps us gambers have a different outook on things.

Stay tuned. I'll be showing more than statements.
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Keep your clothes on. So, you're stalling on the statements, so we can assume that none exist.
 
Quote from Trader666:

I'm loving this classic ET :p

There's not a trader on the planet who can consistently increase their account 20X in 65 trading days. But let's assume there is such a trader... they certainly wouldn't be here, doing it starting with $700 and posting "winner, winner, chicken dinner" after each alleged trade... which I say because sicktraderII still can't seem to post simple screenshots of his account despite his amazing trading powers.

What's even funnier are the wide-eyed believers... especially those who think the "secret sauce" is the MM! :D
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LOL. This thread makes way more sense without sick's nonsensical logic about money management being the only strategy. Most of the pages are two posts without posting a highly overleveraged trade.

Don't worry, sick. I won't ever hear from you.
 
Quote from jmonday:

Money Management can definitely be an edge.
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dude

better find the edge elsewhere, there is no money management rule that can revert negative expectancy per se.

the only thing that MM provides is the ability of not blowing up when you have a real edge, which happens quite few times.
 
Quote from atticus:

Keep your clothes on. So, you're stalling on the statements, so we can assume that none exist.
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As always. I would take the trades the way he's doing it if I also saw orders with the stop limits placed at the time of entry. If that's the whole system, and really does sound like it is, then it will be a few more trades till total blowout.
 
Quote from Anaconda:

Only in the minds of hopefuls & paper traders.

Money management is not an edge, it is a basic requirement for a profitable strategy.
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Yeah, it's only an edge in the minds of the clueless.
 
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