The Trouble With Scribbles

[Buy1Sell2]

Will short on a sell stop at 4484.75.

 

[dbphoenix]

Will short on a sell stop at 4484.75.

Why?

 

[romik]

Unfortunately, losses and drawdowns are essential part of trading. Only theoreticians don't have losses. Consecutive? That's a forbidden word.

 

[dbphoenix]

Unfortunately, losses and drawdowns are essential part of trading.

Depends on the plan.

A couple of points? Yes.

Three or four? Maybe.

40 or 50? No.

Of course, having a plan is always a plus.

 

[romik]

Open a live journal and show us all the skills.

 

[Buy1Sell2]

Will short on a sell stop at 4484.75.

Stopped in short. Initial stop is 4502.00

 

[Buy1Sell2]

Stopped in short. Initial stop is 4502.00

Stop lowered to 4495.50 --will reverse long there.

 

[dbphoenix]

Why?

 

[Buy1Sell2]

--Current position is short from 4484.75. Adjusting protective (not reverse) stop for overnight trading to 4524.00.

 

[dbphoenix]

Open a live journal and show us all the skills.

You have the rules. All you have to do is apply them. Your friend, on the other hand, appears to have no rules, or for that matter a trading plan. Nor have I seen any mention of trade management or risk management (50pts is not "risk management"). And given that this approach not only continues to bleed money but failed to take advantage of well over 300NQpts that the market has made available, its "superiority" has yet to be proven. Far from it.

What I have seen is Guess&Hope. That is not a wise course for any serious trader to pursue.