There is an alternative even in day trading... Fund imperfect entries by sizing down.
Why TopstepTrader?
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There is an alternative even in day trading... Fund imperfect entries by sizing down.
In day trading, that only works if you average down to a near-impossible size to get to a meager profit. In the end, that will blow a day-trade account most days. Unless you average down to that massive size and take a smallish loss.
Meanwhile, you could just start small and swing it if it is an imperfect entry. *shrugs* Some people play pinball, and some people play Pachinko.
I like to be flat at the end of the day but yes, swinging small size is one way to go as well.
i have changed my attitude from risk and make money attitude to top step's attitude do not lose and do not bother how much you make
brooks says calculate risk reward.....why do that....
i am not sure what your objective is...........take the risk and make money which i used to do and so i generally lost.
now topstep and others are not bothered how much you make: they say do not lose.
that is the attitude of most pros.....they want to make a living not become rich.
yesterday i made 400 usd in a 150000 evaluation account.....that is .25 % approx not worth boasting about...
but if i get that everday, i will increase my present income by 20 times........that should change my life a bit.
but on ET there is nothing much to brag about.
pros do not brag......they just make a living
you have no idea what i was trying go do
now i am trying to do what topstep trader says to do
1 rule: do not lose
2 rule: do not lose
really simple.......do not lose and you will make money. and i did.
i tried to make money for 14 years and i lost
attitude is everything
Regular ET members do not "brag". They simply post their wins (and sometimes losses).
The only people who "brag" are people who vacillate between calling themselves the "best trader ever" and the "worst trader ever" on wins and losses of 5 US bux. It is as if people like that cannot figure out who they themselves are.
Can you dig it?
i am not sure i understand that question..
but yes pros do not want to be no 1.......they want to make enough to live a decent life.
and see....... we both can have a decent conversation
Those sound like good rules, but if Topstep is pushing that I hope they have some sort of addendum to it that says know when to take your losses, and keep them small and your wins bigger.
For me a key to staying in this business is knowing that you are wrong and taking the loss. Don't let it eat you alive and move onto the next trade following your plan. A plan that is tested and shown to be profitable.
yep, I have a rule in my trading software which says exit if any position is more than $X out of whack. I can always get back in aggressively if it was purely volatility that took me out.
good point
but what do you mean by volatility?
if you mean that volatility is that: it breaks the high and then breaks the low...and then it WILL break the high........
yes you are right
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