The Trouble With Scribbles
- Thread starter Buy1Sell2
- Start date
Anywhere one wants so long as you only risk 2% of your total liquid net worth? (I cheated - I looked at Buy1Sell2's paper. Sorry
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Anywhere one wants so long as you only risk 2% of your total liquid net worth? (I cheated - I looked at Buy1Sell2's paper. Sorry
Given that he has at least a 50pt ES stop, that equates to at least 125 NQ pts. Almost like not having a stop at all. Except that he insists on stops. But that's robust money management for you.
Well my short entry, when related to my total liquid net worth, given my trade size, would limit me to a 100 NQ point stop loss on this current trade. Everyone knows that stop losses are governed by one's entry relative to one's liquid net worth, right? I mean, no one would be silly enough to base a stop loss on price action, would they?
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Surely not. Those wacky money-management devotees avoid that kind of silliness.
Within ticks of my entry now - but that it ok - let THEM push it higher. My position is safe against my trusty 2% of Total Liquid Net Worth stop loss
It is the prudent thing to do.
Within ticks of my entry now - but that it ok - let THEM push it higher. My position is safe against my trusty 2% of Total Liquid Net Worth stop loss
It is the prudent thing to do.
I'm adhering to the 125pt stop that BS uses. He's my guru.
I had posted this trade this morning at 7:24 EDT to the ES Journal, and then I've been splitting commentary between there and here. For the record, I closed 1/2 at 280. I will claim 325 as my short entry, and though price gave numerous opportunities to match or even better that entry by 2 or 3 points since, I know my private troll may object that since I posted after the fact, I am only allowed to claim 317 which is I think the low of the moment I posted. Whatever.
Here is my post from the ES journal closing 1/2 of my position and it explains my plan for the remainder:
And just a reminder folks - this is just the internet. Timestamps, "real time calls" blah blah blah - none of it will do anything to make you a better trader. You must do the work of learning to scribble intelligently. No one can do it for you, as much as the trolls would like for it to be done for them.
Here is my post from the ES journal closing 1/2 of my position and it explains my plan for the remainder:
And just a reminder folks - this is just the internet. Timestamps, "real time calls" blah blah blah - none of it will do anything to make you a better trader. You must do the work of learning to scribble intelligently. No one can do it for you, as much as the trolls would like for it to be done for them.