Surf's Special Situation Journal

marketsurfer · Feb 13, 2013

Quote from daniel33:

I don't see anything wrong with the 60 points of heat or whatever it was, as long as the reward can justify such heat.

Thanks.

My only guess is these posters are video game addicted adult children who demand instant gratification and play with Xtrader in over leveraged, scared money accounts. But then again, this is ET, the land of no losing traders.

Lucrum · Feb 13, 2013

Quote from daniel33:

I don't see anything wrong with the 60 points of heat or whatever it was, as long as the reward can justify such heat.

How much is the reward going to be?

marketsurfer · Feb 13, 2013

The truth about trading, join us or perish

http://www.elitetrader.com/vb/showthread.php?threadid=259473

This is just one reason I crack up when I hear the "chart readers" claim their nonsense. Read the truth from real traders who make their living in the markets. Either wake up or be forever struggling in a no win game. No more mr.nice guy

daniel33 · Feb 13, 2013

Quote from Lucrum:

How much is the reward going to be?

It is not my trade, therefore, a better question would be, "How much should the reward be?".

Again, not my trade but as an absolute minimum 120 ym ticks, without having any information regarding the statistical accuracy of the setup, which is not something I would generally answer without, but since you asked....

bigarrow · Feb 13, 2013

Surf have you considered there's more than one way to skin a cat?

marketsurfer · Feb 13, 2013

Quote from bigarrow:

Surf have you considered there's more than one way to skin a cat?

Sure, there's many ways to trade. That's how the market works.

R. Raskolnikov · Feb 13, 2013

He can't grasp this concept, god knows people have tried to explain this to him.

Quote from bigarrow:

TA are numbers and time in a graph form. It is a graphical way to help make mathematical decisions.

cornix · Feb 13, 2013

Quote from marketsurfer:

Hmmm, sounds like over leveraged and or scared money to me. One needs to trust their analysis and position size properly. Scared money has no place in the markets.

Depends on time horizon of the trader. My current statistical "heat limit" is 8 ticks, simply no reason to hold losing trades for more. But that's day trading.

Not the matter of being scared or confident, just pure logic. Benefits of day trading are ability to use much higher leverage and much smaller price risk.

In my view one is over-leveraged only if she/he allows losing trades go beyond the logically defined optimal risk. Someone who doesn't adhere to a sane stop-loss (mental or hard, doesn't matter) being in a position on a cash no leverage account may just as well be way "over-leveraged".

marketsurfer · Feb 14, 2013

Holding shorts. Price Drivers remain at strong bearish bias negative 7. 100% accuracy thus far in 2013 in the price drivers. I realize this is impossible to maintain, but I'm thanking my lucky stars so far this year!

marketsurfer · Feb 14, 2013

Quote from cornix:

Depends on time horizon of the trader. My current statistical "heat limit" is 8 ticks, simply no reason to hold losing trades for more. But that's day trading.

Not the matter of being scared or confident, just pure logic. Benefits of day trading are ability to use much higher leverage and much smaller price risk.

In my view one is over-leveraged only if she/he allows losing trades go beyond the logically defined optimal risk. Someone who doesn't adhere to a sane stop-loss (mental or hard, doesn't matter) being in a position on a cash no leverage account may just as well be way "over-leveraged".

I disagree. Being over leveraged or scared means you can't allow the ATR of the market to fluctuate without being prematurely stopped out