Use a manual/mental stop however you want and then a risk management stop based on the hourly ATR. I've found that works to avoid (somewhat) stop hunting while still managing your risk.
Rewind Back 15 Years
- Thread starter padutrader
- Start date
yes use some stop
but after that do not relax....i put a stop and now i can see a movie.
you have to move forward...you have to study....you have to ask questions...you have to try and understand what is trend and how market moves.
Why do you have to do all this?
Because you have to know more than your competition.
what is risk? where does risk come from?
it comes from lack of knowledge....always aim to increase know ledge to reduce risk...
concentration on money management is ok
but how do you beat traders who are perfect in money management but know nothing about market dynamics?
learn to understand the market movements, read between the swings, and then you can beat 99% of all profitable traders.
you are right use stops make money but how to improve?
i just told you.
i made a mistake..... i never learned money management .....
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I understand you only slightly more than @tommcginnis half the time.
that is not true...you understand me perfectly...but you do NOT trust me.
and i am not surprised.
it is ok maybe 2-3-5 years from now you will get it get what i have been telling.
you have to travel the road...but do not forget to enjoy the scenery
experts say the trend is your friend......but a friend can leave.....when will he leave?
those experts do not ,cannot tell you.
once he leaves there is sorrow.
a trend, if you do not know when it ends, it will end in sorrow
those experts do not ,cannot tell you.
once he leaves there is sorrow.
a trend, if you do not know when it ends, it will end in sorrow
When I began on the road to trading, one of the first things I (wisely) did was attempt to ascertain what instruments would I trade.
So I looked at fx, futures, stocks, etc and came to my conclusion.
I reckoned without using leverage what would give me the biggest bang for my bucks, and it is still how I look at stocks which I trade, "which give the biggest bang for the bucks."
Below is an example, Fortescue Metals versus USD Index which is the green horizontal line.
The scale RHS is % return.
So I looked at fx, futures, stocks, etc and came to my conclusion.
I reckoned without using leverage what would give me the biggest bang for my bucks, and it is still how I look at stocks which I trade, "which give the biggest bang for the bucks."
Below is an example, Fortescue Metals versus USD Index which is the green horizontal line.
The scale RHS is % return.
i am a greedy fellow....so i want to use leverage.....
but there can be no doubt stocks are the place to be....
but the only thing that can be traded with 5usd or 30 usd or 50 usd is forex.
so the choice was made for me
it is 1 am in India.....my wife and dog are asleep....not a bad day for my objective in life which is not to trade and make money but to understand the market and trade with a win rate of 100%
not yet 100% but i will get there.
good night or good day
not yet 100% but i will get there.
good night or good day
I have no idea why you have this (short) entry. Seems like FOMO.