Okay. Let us start with you sir. I assume you are a trader and not just here too protect us all. Explain to us all your winning strategies in detail. Also, include your algo that produces 100% a month with 90% accuracy. Is that what trades do? Give away algos they have spent countless hours developing? I think not. Scam??? Know this sir. If I were following a guy who posted trades daily. SL and PT at the time of the trade execution. And he won 75% of his trades. I wouldn't care what he was trading. I can't dispute how his trades are finishing out. Traders/Investors have great days and horrible days. Just looking at a historical P/L or win% will never predict with certainty what tomorrow brings in the markets. I trade sir. And I do it very well.
YM Magic!
- Thread starter TheTrue1
- Start date
Interesting thread, Im going to follow this along to see the outcome.
I dont have an opinion one way or the other on the legitimasy of OP, but am sure it will finally be revealed, ET is a very good winnowing machine.
What i do wish to contribute, is about the widely held myth regarding stops and profit targets.
In order to trade succesfully, one does NOT need a stop or profit target.
Scream all you like! I trade very well without.
I have a system and it is discretionary, its not intraday as such but I do watch intraday very closely.
Having a stop or profit target will for me always take me out prematurely.
Discretionary trading!!! Old hat, wont compete with auto trading?
Well I wont debunk auto trading, have been there, done that.
When you are an old school man like I am, what the masses are doing - do the opposite.
Free lesson for the day.
Carry on.
I dont have an opinion one way or the other on the legitimasy of OP, but am sure it will finally be revealed, ET is a very good winnowing machine.
What i do wish to contribute, is about the widely held myth regarding stops and profit targets.
In order to trade succesfully, one does NOT need a stop or profit target.
Scream all you like! I trade very well without.
I have a system and it is discretionary, its not intraday as such but I do watch intraday very closely.
Having a stop or profit target will for me always take me out prematurely.
Discretionary trading!!! Old hat, wont compete with auto trading?
Well I wont debunk auto trading, have been there, done that.
When you are an old school man like I am, what the masses are doing - do the opposite.
Free lesson for the day.
Carry on.
You know as much about trading as Mickey Mouse knows about rapping.
You are just going to dig yourself into a bigger hole every time you post.
Did you make a post earlier where you asked people to contact you, and say that "they will not regret it".
Do you really think that people are so stupid that they take your Mickey Mouse trades serious.
Donal Duck would make a better trader than you
Mmmm, okay. I'll give you a pass in my mind, because your posting history does not suggest anything subversive to anyone. It was the thread with the female vs. male traders posts you made that started to bias my opine of you, and so I started feeling prejudicially aggressive to you subconsciously. I apologize for that.
(Damn, it feels so good to be honest with one's self. It's like a colonic, without the mess! Hehe? )
Oh ohh, be very careful mention trading without stops, as it can be very serious for some people.
Again, to back up your statement, you need to furnish proof.
This you will not do, as I can actually predict the future with regard certain things.
Whilst you may, or may not, make money trading without stops, overall, for the average person who embarks on the easy money route, it is the one area that takes them out of the game before they even start to play.
So, please be careful with your words, or be more specific.
I am sure you get where I am coming from, being a man of "experience".
Damn yes, I have the same thoughts. It is a tough path to dig-out from all the slop above it. But still such an egg-shell path it seems. Tip-toe very gently!
Apology accepted.
Now, I bet you feel even better
I am predicting here and now that TheTrue1will not make money trading the YM when he has 20 trades completed with live money, let alone 200 trades!
He can of course prove me wrong any time he so desires, the choice is entirely his. I will be the first to congratulate him and go thru his trades with him to help him repeat his winning streak, and show him that the money he made had absolutely nothing to do with pivot points, or any other such irrelevant things.
No stops used in the normal sense.
If I were to enter a new trade and it went against me, that is did not 'behave' as i would expect, I'd dump the position asap. My exits from a long trade are always from me thinking the energy has run out. When this occurs (as I can never predict the future) is only when or shortly after it happens.
PS: Maybe to elaborate, exits are never a number, exits are how its behaving. I use zero indicators, price only.
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Now that is more informative.
Mental stops are still stops, and YES, depending on the type of trading it can be advantageous to use mental stops as opposed to mechanical stops. This is usually associated with short term trading based on momentum around major S&R levels. The reason why so many get their mechanical stops hit is very simple and that is, they have put them in at the wrong place with regard to the current time.
This can also be stated as..
being in the wrong place at the wrong time
which is the opposite of..
being in the right place at the right time
I hope some people are now beginning to see just how little the OP really knows about trading, and how listening and following advice from such a person can really cost you money.
Please...you cannot help me do anything with regards too trading. If you don't like what I am doing, or how I am doing it. Move around. Ignore me.Apology accepted.
Now, I bet you feel even better
I am predicting here and now that TheTrue1will not make money trading the YM when he has 20 trades completed with live money, let alone 200 trades!
He can of course prove me wrong any time he so desires, the choice is entirely his. I will be the first to congratulate him and go thru his trades with him to help him repeat his winning streak, and show him that the money he made had absolutely nothing to do with pivot points, or any other such irrelevant things.