There is but one correct method

Buy1Sell2 · Jul 9, 2012

Quote from ammo:

that you know exactly where the buy low sell high tops and bottoms are,

Has nothing to do with exact tops and bottoms. The 4 rules in the opening post even help a bad system have better opportunity to not lose as quickly.

ammo · Jul 9, 2012

Quote from Buy1Sell2:

No. . It is the"" only "correct method.

only....passive agressive chiding..passive agressives are never wrong, traders who are never wrong are eventually broke

logic_man · Jul 9, 2012

Quote from Buy1Sell2:

Has nothing to do with exact tops and bottoms. The 4 rules in the opening post even help a bad system have better opportunity to not lose as quickly.

Well, gee, if that's what you're striving for, I can help you double the "quality" of your rules.

Only risk 1% of total liquid net worth on any idea/trade.

Oh, wait a second, I think I can double the "quality" of that, too. Yep, only risk 0.5% of total liquid net worth on any idea/trade.

While I agree money management and risk are key considerations, your "rule" is so arbitrary that it's worthless.

Buy1Sell2 · Jul 9, 2012

Quote from logic_man:

Only risk 1% of total liquid net worth on any idea/trade.

Oh, wait a second, I think I can double the "quality" of that, too. Yep, only risk 0.5% of total liquid net worth on any idea/trade.

Excellent! You are beginning to see it! 2% of TLNW was merely the cap on loss!

-as long as the stop is outside the noise as you define it, that is the key!--

Buy1Sell2 · Jul 9, 2012

Quote from ammo:

traders who are never wrong are eventually broke

?
Traders who focus on being right generally lose in the end. I focus on the proper trading method which is to admit early when wrong and limit loss to no more than 2% of TLNW, yet when right I stay in for as long as possible. This way I can be successful with very few "rights".

ammo · Jul 9, 2012

a smart trader can make money and still be an idiot, trading is a process of weeding out ones personal beliefs, and adapting mentally to the market,one by one the blinders come off,and we slowly become less and less of an idiot,one of the most comfortable falsehoods is always and never,in your case, the only way,the only part of your plan to keep is the 2% rule,and that's just for the newbs

Buy1Sell2 · Jul 9, 2012

Quote from ammo:

,the only part of your plan to keep is the 2% rule,

Beginning to make some progress here--

The other three items are essential as well.

ammo · Jul 9, 2012

stubborn as a mule is another trait that a successful trader needs to let go of,there is a big difference between stubborn and disciplined , you've shown in the past,as we all have ,where one has a huge profit and rides it back to 0 or a loss

masterm1ne · Jul 9, 2012

How can their be only one method when there is so much documentation that there is a method out there for every trader that exists??? You only described a trend following approach...

IE... Pitbull book trader was a scalper.

Remember, if you can net 2 ES pts (scalp) / day you can be in the top 1% of all incomes.

Buy1Sell2 · Jul 10, 2012

Quote from masterm1ne:

How can their be only one method when there is so much documentation that there is a method out there for every trader that exists???

There may be plenty of strategies for entries and exits available to the retail trader, but this is the correct method to apply to those strategies.