im on a roll

new_trader · Feb 4, 2009, 8:05am

Quote:

Originally Posted by Rossini

Not necessarily, if he reduced his position size by more than 50%, and increased his stop size by 20 percent he would still be taking less risk and arguably a higher probability of having a target reached. However I think stop trading is the best advice given on this thread.

How do you reduce position size by more than 50% on 1 ES contract?

"arguably a higher probability of having a target reached"

In what way is it arguable? If someone shorted the ESH9 contract at 800 would you suggest they continue widening their stop because the target of 780 will have more chance of being reached?

richi rich · Feb 4, 2009, 8:41am

Mate - stop trading - this small fortune will go to the dust.

Many big traders have lost many fortunes before realising and clicking. Its common.

Stop trading. Some trading books help certain problems. ur problem seems to be one that could be 'helped' by reading ''trading in the zone - mark douglas'

take into mind what he says, but obviuosly its not a holy grail, nothing is...remember everything is an opinion, and some opinions are far more sense making/favoruable than others.

Its a philisohical/physcological type book

all the best

Rossini · Feb 4, 2009, 9:29am

How do you reduce position size by more than 50% on 1 ES contract?

You carnt

"arguably a higher probability of having a target reached"

In what way is it arguable? If someone shorted the ESH9 contract at 800 would you suggest they continue widening their stop because the target of 780 will have more chance of being reached?

Of course not, but if he found that his stops where constantly getting hit but his entries are ok, then the logical thing to do is widen the stops, and then learn where to put the stops to get the balance right between risk and the possibility of getting constantly stopped out on winning trades. I'm not saying he should a spanish stop or anything like that! But I feel the best way is to give the trade room, so that if the entries are not spot on one wont be stopped out left right and centre. You have taken my comment out of context and then preceded to tell me why it was wrong.

wasp · Feb 4, 2009, 9:32am

.....or, improve the entries. 'ok' isn't good enough, sorry!

Rossini · Feb 4, 2009, 9:33am

didnt mean to post

teojh · Feb 4, 2009, 10:06am

thanks guys.
i will be back in a big way. And carry out a big heist on my broker

new_trader · Feb 4, 2009, 10:49am

Quote:

Originally Posted by wasp

.....or, improve the entries. 'ok' isn't good enough, sorry!

No it isn't. Widening stops because you are convinced an entry is 'OK' is the surest way to bankruptcy.

Claudia123 · Feb 4, 2009, 10:57am

Quote:

Originally Posted by new_trader

No it isn't. Widening stops because you are convinced an entry is 'OK' is the surest way to bankruptcy.

Be quicker not having stops

Leave the minimum amount of cash in your account and trade the minimum til you get confidence back. Running away wont help and paper trading for me is a waste of time. Get back in the markets slowly and don't be greedy!! Good luck.

Feb 4, 2009, 8:41am	#10
richi rich Senior Member Member Since Apr 2005 117 Posts	Re: im on a roll Mate - stop trading - this small fortune will go to the dust. Many big traders have lost many fortunes before realising and clicking. Its common. Stop trading. Some trading books help certain problems. ur problem seems to be one that could be 'helped' by reading ''trading in the zone - mark douglas' take into mind what he says, but obviuosly its not a holy grail, nothing is...remember everything is an opinion, and some opinions are far more sense making/favoruable than others. Its a philisohical/physcological type book all the best

Feb 4, 2009, 9:29am	#11
Rossini Veteran Member Member Since May 2008 917 Posts	Re: im on a roll How do you reduce position size by more than 50% on 1 ES contract? You carnt "arguably a higher probability of having a target reached" In what way is it arguable? If someone shorted the ESH9 contract at 800 would you suggest they continue widening their stop because the target of 780 will have more chance of being reached? Of course not, but if he found that his stops where constantly getting hit but his entries are ok, then the logical thing to do is widen the stops, and then learn where to put the stops to get the balance right between risk and the possibility of getting constantly stopped out on winning trades. I'm not saying he should a spanish stop or anything like that! But I feel the best way is to give the trade room, so that if the entries are not spot on one wont be stopped out left right and centre. You have taken my comment out of context and then preceded to tell me why it was wrong. __________________ Do, or do not, there is no such thing as try. __________________ I'm easily pleased with perfection, and if trading is an art, then I'm painting my masterpiece. __________________ If the margin between your goal and failure is too small then any shortfall will inevitably lead to failure. It's far better to aim high because if you don't quite achieve your ambition you may very well be left with something worthwhile. __________________ Last edited by Rossini; Feb 4, 2009 at 9:34am.

Feb 4, 2009, 9:32am	#12
wasp Banned Member Since Aug 2003 5,159 Posts	Re: im on a roll .....or, improve the entries. 'ok' isn't good enough, sorry!

Feb 4, 2009, 9:33am	#13
Rossini Veteran Member Member Since May 2008 917 Posts	Re: im on a roll didnt mean to post __________________ Do, or do not, there is no such thing as try. __________________ I'm easily pleased with perfection, and if trading is an art, then I'm painting my masterpiece. __________________ If the margin between your goal and failure is too small then any shortfall will inevitably lead to failure. It's far better to aim high because if you don't quite achieve your ambition you may very well be left with something worthwhile. __________________

Feb 4, 2009, 10:06am	#14
teojh Senior Member Member Since Oct 2008 173 Posts	Re: im on a roll thanks guys. i will be back in a big way. And carry out a big heist on my broker __________________ I trade... No I don't. I steal. I rob. I snatch. The philosophy of Heist Capital... All your money are belong to me. Muahahahaha

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