why is it necessary to bash everyone who actually posts a trade. let him play it out and we will see how it worked.
Short
- Thread starter Trend Fader
- Start date
Quote from waggie945:
If you have a $30,000 trading account and you "scale" into the IWM Index (which is in the 118 handle), then a 1% stop loss of your account is $300.00
I'm sorry, but trading 250 shares in a "top-picking" method on an index that has an average range of roughly 1.5% is not my idea of a prudent way of making money, nor an "excellent way to trade."
To say that your trades "last for a few days" in an index and market atmosphere that has been nearly straight-up, conflicts with your statement that you stop yourself out at 1% of your capital. If you do actually stop yourself out at a 1% loss of your capital, the DAILY RANGE of the IWM would for all practical intent, stop you out on a daily basis!
if your trying to trade with 30K I would guess your not making much of a living at trading. Its a good number to start with, but thats it.
Quote from waggie945:
Hey Joey,
Isn't if funny how you have so many aliases that you actually wind-up talking to yourself on the very same thread that you, yourself created?
For what its' worth, your alter-ego "Trend-Fader" told me that he had a $30,000 account.
GET REAL.
Hmmm i didnt know i have more then one name on ET... thast news to me
Quote from waggie945:
Hey Joey,
Isn't if funny how you have so many aliases that you actually wind-up talking to yourself on the very same thread that you, yourself created?
For what its' worth, your alter-ego "Trend-Fader" told me that he had a $30,000 account.
GET REAL.
As if I am gonna tell some ex-trader Tudor Jones trader how much $ I actually trade with. Waggie asked me how much $ i trade with on Yahoo IM.. so i told him over $30k.. which is over the PDT. My exact amount is private and I dont think any trader with half a brain would give out that info to any wierdo over the net.
--MIKE
It's not about 1 trade or 1 post or 1 thread. It's that some people just keep starting useless threads and eventually ruins the whole site. Not much better than yahoo or (siliconinvestor?)
I'm not bashing someone that is putting on a trade.
I, as well as several others on Page 1 and 2 of this thread are simply suspicious of someone's "methodology" that says that they have been successfully making money shorting the IWM Index using a mere 1% of trading capital stop loss. Ever notice that Trend-Fader never, ever starts a thread or a post about how he is LONG?
Take a look at the IWM since early December of last year.
Then tell me how many days you see a DAILY RANGE of over 1 full point and I will show you a $30,000 trading account with a 1% stop loss that no longer has any money in it!
No matter how you slice it, the "methodology" that Trend Fader describes as an "Excellent way to Trade" cannot be further from the truth.
I, as well as several others on Page 1 and 2 of this thread are simply suspicious of someone's "methodology" that says that they have been successfully making money shorting the IWM Index using a mere 1% of trading capital stop loss. Ever notice that Trend-Fader never, ever starts a thread or a post about how he is LONG?
Take a look at the IWM since early December of last year.
Then tell me how many days you see a DAILY RANGE of over 1 full point and I will show you a $30,000 trading account with a 1% stop loss that no longer has any money in it!
No matter how you slice it, the "methodology" that Trend Fader describes as an "Excellent way to Trade" cannot be further from the truth.
Wait a second. Why is it useless thread. There are actually some people that on ET that ask me what my bias is??
Just because u dont see any value here doesnt mean u can make a judgement for whole ET. I am not soliciting anything, i have no alterior motives of selling a service, no guru following... Just stating my bias and for other traders to see.. and perhaps stimulate an interesting discussion about it.
Not get a bunch of crap from pikers telling me i dont know how to trade because i am shorting the spikes.
--MIKE
would you rather have the whole site with threads of nothing but: specialist suck,whats a good broker,whats best prop rate ect?
No, you're getting crap because you're making an obvious newbie mistake by trying to call a top. Have fun going broke.