What do you value most in a Trading Chatroom?

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Tradex said:
Hi SimpleMeLike,

Risking 10% of your capital per trade is extremely risky, just 5 losing trades in a row will be enough to produce a huge 50% drawdown.
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Hello Tradex,

I only think about the winning side of the making money equation when it comes to trading.

I do not care about risk or drawdown, I want to make a lot of money quickly. I don't trade futures for little money. Risking 1% is just not worth my time I have allocated for my trading business.

I know the goes against the standard rules of trading money and risk management, but I want to make a lot of money quickly per day. I'm very comfortable risking 10 to even 20% of my trading capital per trade. Very comfortable. 10 to 30 contracts a lick.
 
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Tradex said:
You should my friend, 90% of trading is about managing risk (stop and position sizing), timing represents only 10% of the equation.

Betting big is fine, as long as you are betting with your profits, and your profits only.
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Yes sir Tradex,

I respect your comments. I just want to add, that it comes to a point in this trading game/business you have to believe in yourself and your skills and balance this risk and reward.

I am starting to believe that confidence/skills/education equal Edge from a discretionary trading point of view.
 
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Tradex said:
You should my friend, 90% of trading is about managing risk (stop and position sizing), timing represents only 10% of the equation.

Betting big is fine, as long as you are betting with your profits, and your profits only.
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The idea of betting with profits is counter to the idea of managing risk. There's no such thing as "house's money." It's all your money as you can always cash in your chips.
 
Tradex said:
Not at all, you are simply adding to winning positions, the risk (in percentage) does not change.
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I agree Tradex,

I think the issues traders have when thinking about the 1-2% Risk/Money Management Rules, they do not think long term and plan the possible goals. For example, a trader with a $15K account, trading the ES future market, who average loss per trade of $300, limits the trader to 1 contract per trade. That trader can not excel to 2 contracts per trade, until account balance is $30K. They do not realize that that 1-2% is there protection against themselves and profits will eventually go higher, once they earn the right to scale contract size higher.

It is a long term planning that needs to take places before beginning the trading journey, cause they will be many many distractions along the way trying to put trader in 100 rabbit holes chasing.
 
Tradex said:
Not at all, you are simply adding to winning positions, the risk (in percentage) does not change.
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Adding to a position because your conviction increases as it earns is one thing. Betting bigger because you are “trading with profits” is another.

it should be obvious what the difference is.
 
newwurldmn said:
Adding to a position because your conviction increases
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There is no "conviction" or subjectivity involved here, we add to a position only if the backtest reveals that it is profitable to do so.

newwurldmn said:
Betting bigger because you are “trading with profits” is another.
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It should be obvious that we cannot bet big with our losses.

Anyway.
 
Tradex said:
There is no "conviction" or subjectivity involved here, we add to a position only if the backtest reveals that it is profitable to do so.



It should be obvious that we cannot bet big with our losses.

Anyway.
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conviction is your confidence in your trade, whether that comes from a quantitative signal, looking at squiggley lines, or reading 10k’s.

Are you saying you scale up a position just because it is making money?
 
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