Why Is The Obvious Not So Obvious?

[odlareg]

A certain highly respected member posted in the past:

"ES & NQ are very risky compared to individual stocks, and, you need a good bit of money to trade FTRS effectively."

and

"ES can be very profitable, but you need to be have plenty of money to load up when required, of course, the downside is you can lose big if you get caught with multiple contracts at the wrong time"

For sure this is proven.

WTF happened that he changed his mind?

GO

 

[M4-1]

Did your target change?

no target!

 

[M4-1]

A certain highly respected member posted in the past:

"ES & NQ are very risky compared to individual stocks, and, you need a good bit of money to trade FTRS effectively."


and

"ES can be very profitable, but you need to be have plenty of money to load up when required, of course, the downside is you can lose big if you get caught with multiple contracts at the wrong time"

For sure this is proven.

WTF happened that he changed his mind?

GO

this trade will make money for me..anyone want to bet otherwise !!

 

[M4-1]

I know, it's just me, but I can not understand why people are so reluctant to take small losses (and possibly get on the right side) when things don't move as initially expected.

On the bright side, it's only 1:30pm est: preceding a 3 day weekend!

Happy 4th!!

we will come back to this once my positions are closed..

 

[M4-1]

It's not just you...

I prefer to add to a winner instead, i.e., adding more units as price moves in my favour. But I can average in as well if I have an expectation of price bottoming out or topping out within a zone of say 5-15 points on ES and I'm a tad too early on my first entry (which always is on smaller size).

sounds like some of that van tharp crap

years ago when i was starting out..a trader on not sure what site..was using IB TWS and an auto trading setup to trade various stocks at the same time..

the strategy was something to this effect..

long or short based on criteria..once momentum continued the position was added to..when momentum slowed..or stopped..the positions were closed..

start again..

i don't know what happened..nor does it really matter..but i do know that it worked quite well for some time..maybe he is still doing it..but i doubt it !

 

[M4-1]

for those who are interested..i decided to fire up my pc and look at my setup again..i found that the current colours are not effective..this was determined by zooming in and out on the charts..i then adjusted the colours until i was happy that what i now see in front of me will not adversely affect my way of thinking when i am trading..

 

[baron193]

And what point do you think he was trying to prove then?

Note that I didn't explicitly state it, although it does seem clear to me.

i was wrong is appears that IS what he is going to prove...

 

[Vindago]

with enough money and time almost any trade will get on the positive side eventually. Unfortunately I do not have the luxury to do that now (I did few years ago and it worked very well, until it did not work anymore with the capital and time I had at the time) so I need to go at trading differently...

 

[Mysteron]

for those who are interested..i decided to fire up my pc and look at my setup again..i found that the current colours are not effective..this was determined by zooming in and out on the charts..i then adjusted the colours until i was happy that what i now see in front of me will not adversely affect my way of thinking when i am trading..

So for your current trade this begs the obvious question: "Why is The Obvious Not So Obvious"

In a failing trade one way of trying to gain is to increase postion size to put the break even price within the likely price range for the near future. Doing that repeatedly though can eventually lead to a position size limit for the account, and price may still drift away to create a possibly excessive loss. Although it is very likely that price will revert back to produce profit for your current position eventually, there is no guarantee that will happen soon, leading to:

 

[M4-1]

So for your current trade this begs the obvious question: "Why is The Obvious Not So Obvious"

In a failing trade one way of trying to gain is to increase postion size to put the break even price within the likely price range for the near future. Doing that repeatedly though can eventually lead to a position size limit for the account, and price may still drift away to create a possibly excessive loss. Although it is very likely that price will revert back to produce profit for your current position eventually, there is no guarantee that will happen soon, leading to:

View attachment 262448

it depends on how much you have in your account.. and how much drawdown you can withstand..

if i was trading the ES right now..i would not be as not worried as i am right now