"Scaling out" is inferior behavior

[Buy1Sell2]

The key here is to find optimal targets over series of trades not just one trade if you are using targets and to let your trades run if using trailing stops. (Trailing stops are very good at risk adjustment since they can be moved tighter as the trade progresses).

Now that being said, it takes no super intelligence to trade or for that matter any gift. Each trader is capable of everything that I am capable of. We are looking at the same information and have the same standard issue brain. I am no smarter than any other trader out there. I just know how to maximize my profit while limiting losses. There are many of us who can-- however most that are capable do not-- Good trading to all!

 

[Optionpro007]

Quote from Buy1Sell2:

The key here is to find optimal targets over series of trades not just one trade if you are using targets and to let your trades run if using trailing stops. (Trailing stops are very good at risk adjustment since they can be moved tighter as the trade progresses).

Now that being said, it takes no super intelligence to trade or for that matter any gift. Each trader is capable of everything that I am capable of. We are looking at the same information and have the same standard issue brain. I am no smarter than any other trader out there. I just know how to maximize my profit while limiting losses. There are many of us who can-- however most that are capable do not-- Good trading to all!

Great post b1s2.

However, after studying your trading philosophy for a while I must add that you indeed have something most others don't have.

Your commitment, determination, discipline and complete trust in yourself and in your system is truly exceptional.

It has been a great example to me.

 

[FanOfFridays]

Quote from Buy1Sell2:

I am no smarter than any other trader out there. I just know how to maximize my profit while limiting losses.

If there is one central theme in this thread, it is that you consider yourself so much smarter than everyone else. If you didn't, why on earth would you tell so many traders, who have so many and varied ways of maximizing their own profits and limiting their own losses, that they are doing the wrong or, in your words, 'inferior' thing? The results of your own poll show that the majority scale out at least once in a while. This inconvenient fact is conveniently ignored by you. If there's one thing that's certain, it is that there are literally hundreds of ways to make money in the markets. Two successful traders could have styles that bear almost no resemblance to each other. Good system developers create systems that seem contradictory in terms of their approach, yet are individually profitable. It is hugely arrogant to assert that you know better than everyone (anyone!!) else and that you can tell all of these traders what they are doing right and what they are doing wrong. That would be sort of like saying that you could know the optimal exit point for every trade before the trade was put on.... errrr... ummm...

Oops.

 

[Buy1Sell2]

Quote from optionpro007:

Great post b1s2.

However, after studying your trading philosophy for a while I must add that you indeed have something most others don't have.

Your commitment, determination, discipline and complete trust in yourself and in your system is truly exceptional.

It has been a great example to me.

Thank you very much James for your kind comments and support. I apologize that I have not been keeping up some of my journals but will perhaps get back to that soon.

 

[wave]

Quote from optionpro007:

Great post b1s2.

However, after studying your trading philosophy for a while I must add that you indeed have something most others don't have.

Your commitment, determination, discipline and complete trust in yourself and in your system is truly exceptional.

It has been a great example to me.

ditto.

 

[Buy1Sell2]

Quote from wave:

ditto.

Thank you as well wave!

 

[diligent]

it really seems like this is one of those fundamental building blocks that you decide to either build a system around, or not... imo.

 

[incubator]

Quote from Buy1Sell2:
I am no smarter than any other trader out there. I just know how to maximize my profit while limiting losses. There are many of us who can-- however most that are capable do not-- Good trading to all! [/B]

Post of the dacade!!! on any ET forum!
Any newbie should read this 1000 times.
it takes years to get there,many years

 

[FanOfFridays]

Quote from incubator:

Post of the dacade!!! on any ET forum!
Any newbie should read this 1000 times.
it takes years to get there,many years

lol.... B1S2, you really get the cream of the ET crop coming out in support of your (mistaken) assertions.

 

[taowave]

Quote from traderNik:

lol.... B1S2, you really get the cream of the ET crop coming out in support of your (mistaken) assertions.

Nik,it truly is mind boggling.....