Port1385 says to "double down" in your 3x inverse positions!!!
- Thread starter Port1385
- Start date
Right again. But, I'm already as conservative as they come. If I get anymore conservative, I wouldn't trade at all.
Shorting at the end of the day and holding overnight is a very low risk strategy. Look at the $NYA. Exactly a 50% retracement. Today's rally was a relief after yesterday's dump, tommorrow we continue the downtrend.
http://stockcharts.com/charts/gallery.html?$NYA
http://stockcharts.com/charts/gallery.html?$NYA
Agreed 100%.
But since so many "cheerleaders" here on ET make all sorts of claims regarding TRADES and do so conveniently without the use of stop-losses, it's a complete waste of time to even question their methodology because of the lack of money management rules.
ET member S2007S comes to mind when it comes to repeatedly averaging down on losing trades and not using any kind of stop losses.
My guess is that he is merely a "prop" poster on ET, and does no trading whatsoever. If he did ( with his "methodology" ) he'd have been bankrupt a long time ago!
Here's a classic example of one of his "idiotic" risk/reward trades:
http://www.elitetrader.com/vb/showthread.php?s=&postid=2394331#post2394331
You realized there would be an upturn today? STFU. Seriously. That's among the most ridiculous things I've ever read. Funny you didn't make a statement like this pre-market Tuesday or post-market Monday. This is really only a statement that someone that makes absolutely ZERO money as a trader would make.
Funny thing is, if you knew this, why didn't you make any money on it? I've heard about some of your idiotic trades and statements, but wow.
Tomorrow, post-market, why don't you tell us exactly what you "expected" to happen after you read the market summary.
threads like this one are a prime example why i spend less and less time on ET since I first arrived 3.5 years ago.
talk is cheap...and posting on ET is even cheaper! cause no one can actually call you out on it in the real world.
in truth, there have been a handful of posters on ET (out of hundreds) that have actually added value to my trading.....a few gems in a sea of posers, losers, kids, etc....i actually owe a lot to a few of them who pointed me down the right path. except for them, the main reason i come these days is to post my daily pnl (which i may stop soon as i don't think i'm getting any value out of it...it seems like i'm ones of the only one who posts a daily ES pnl blotter).
ET is turning out to be a big disappointment for me as a trader. someone who is an awesome trader once told me that the "ET community" is just a reflection of all traders en masse , i didn't get it at first, but i think i do now. mostly a lot of hot air, a few grinders, and not much real profit.
talk is cheap...and posting on ET is even cheaper! cause no one can actually call you out on it in the real world.
in truth, there have been a handful of posters on ET (out of hundreds) that have actually added value to my trading.....a few gems in a sea of posers, losers, kids, etc....i actually owe a lot to a few of them who pointed me down the right path. except for them, the main reason i come these days is to post my daily pnl (which i may stop soon as i don't think i'm getting any value out of it...it seems like i'm ones of the only one who posts a daily ES pnl blotter).
ET is turning out to be a big disappointment for me as a trader. someone who is an awesome trader once told me that the "ET community" is just a reflection of all traders en masse , i didn't get it at first, but i think i do now. mostly a lot of hot air, a few grinders, and not much real profit.
