Thanks for the nice words, and I will pass the note on to Bob....we're doing our best to help!!
Riding your winners and number of positions
- Thread starter LelandC
- Start date
1) Increase my trading size dramatically
2) Increase my trading size, and figure out some way to let my winners ride longer.
Nitro I too have been increasing my trading size. Been toying with the idea of selling part of the position and letting the other portion run. Haven't really made real progress with this though. Trading is definately an art...
Leland
2) Increase my trading size, and figure out some way to let my winners ride longer.
Nitro I too have been increasing my trading size. Been toying with the idea of selling part of the position and letting the other portion run. Haven't really made real progress with this though. Trading is definately an art...
Leland
Magna
Administrator
Nitro,
[Magna said:] So do tell, what speaks to you so loudly???
[Nitro replied:] I will not talk about the way I trade.
Please, I wasn't asking for your deepest, darkest, most proprietary trading secrets. Heaven Forbid.
I will tell you that I scalp.
Useless information that completely ignored my question, I assume as you intended.
If it simple, then IT WILL scream at you.
Then please give one example of one trade made in the last week, with time of day, and exactly what was screaming at you. No philosophising, no clever sayings, no holier-than-thou, just a single, simple example of this screaming that you repeatedly refer to. I suspect, as I said in my last note, that it will be a standard breakout or breakdown, but I'm interested in one example of what was so obvious to you.
[Magna said:] So do tell, what speaks to you so loudly???
[Nitro replied:] I will not talk about the way I trade.
Please, I wasn't asking for your deepest, darkest, most proprietary trading secrets. Heaven Forbid.
I will tell you that I scalp.
Useless information that completely ignored my question, I assume as you intended.
If it simple, then IT WILL scream at you.
Then please give one example of one trade made in the last week, with time of day, and exactly what was screaming at you. No philosophising, no clever sayings, no holier-than-thou, just a single, simple example of this screaming that you repeatedly refer to. I suspect, as I said in my last note, that it will be a standard breakout or breakdown, but I'm interested in one example of what was so obvious to you.
11:47:27 Reversal in AOL, offered at 27.48, buying it, spu's reversed above FV, offer now at .60., holding spu's leveling off, 55 bid 65 offer......place offer at 65....just now taken......out of trade...11:49:03
There is no distinction between "my deepest darkest secrets" and the way I trade - I do not talk about my trades. I am not selling anything, I do not need praise, but I do need money, and I will not jeapordize my "holy grail."
If the information is useless to you, then I suspect that you are already an advanced trader and are just thirsting to learn more. I understand, I too have this thirst , but I am not talking about the way I trade or the trades I make.
nitro
No, actually I was just reading the post asking for "screams"...when the squawk box noise flipped to the plus side (Merrill buying...yada yada)...saw AOL sitting there, started typing...and got in and out quickly. The "art" is partly not being afraid of making a mistake...I saw a decent bid just below my entry point, and figured this should be a good example, and went for it...
"it is completely obvious to me when to get in, and the screams are so loud that my fingers just do their thing as if it is THEM who is doing the trading." --- Nitro
You have truly transcended technique in such a way that your trading has become an artless art, growing out of the unconscious... You have eliminated yourself and become one with the market... I have often told fellow traders that my belly is smarter than my head will ever be... I will now substitute belly with fingers.. You are on your way Nitro to becoming a "grandmaster" CONGRATS
PEACE and good trading,
Commisso
You have truly transcended technique in such a way that your trading has become an artless art, growing out of the unconscious... You have eliminated yourself and become one with the market... I have often told fellow traders that my belly is smarter than my head will ever be... I will now substitute belly with fingers.. You are on your way Nitro to becoming a "grandmaster" CONGRATS
PEACE and good trading,
Commisso
Leland,
Position sizing is probaly the number one thing that I need to do to increase profits. I am totally confortable with the way I trade (finally!) However, as I am at IB, (I have other accounts, but IB is my trading acct for 50% of my trades) I do not have the buying power that I need to take my trading to the next level.
I am hopeful that I can go to a prop firm that will give me a killer deal when I am ready.
I have heard RTHarp talk about someone at his firm that has a 30000 share position on for a scalp. I suspect that Bright has traders that do this size as well (I know what size Don does, Earl (another Bright trader) does, and have heard stories of Bob's MONSTROUS positions) but I will let them say it for themselves, if they feel like it.)
I do not know if trading bigger size brings other techniques to the trading game. I would like to learn from someone doing this size. Unfortunately, I suspect that the only way to find out is to work your way there, going through 2000, 5000, 10000, Yikes!
This is my goal - it would definetly turn me into a seven figure trader, easy...
nitro