I don't understand your strategy. It looks like to me if I went long on ALFA on 2-17-05 I would have being buying at the high of the day for a loss before session ended. If I went long on OMM on 2-22-05 I would have be buying again ALMOST at the high of the day and been with a loss before days end. In either case would have probally been stopped out on a stop loss before the day's end. Why don't you post your stop losses with your trade recomendations? That way we could tell if you get stopped out since you seem to still be holding the trades.wwatson1 said:
Have a great day!
pttrader
Hi pttrader,
Please understand that I do not day-trade, I am a short-medium term end of day trader.
I enter and exit my positions on the market open always.
My outlook is a longer time-frame than one day.
My sell signals on my trading system are generated at the end of the trading day, The positions I have posted here are still open.
I am waiting for a sell signal, When I have one I will be posting here pre-market.
Hope this clears things up for you.
Please understand that I do not day-trade, I am a short-medium term end of day trader.
I enter and exit my positions on the market open always.
My outlook is a longer time-frame than one day.
My sell signals on my trading system are generated at the end of the trading day, The positions I have posted here are still open.
I am waiting for a sell signal, When I have one I will be posting here pre-market.
Hope this clears things up for you.
I don't agree that you are doing at all great .
your return on cap is self professed at around 70% over 3 months . that is on your word only , your risk capital has not been publshed and neither have your stop losses , whch would detetrmine you per trade Reward to risk . I hope you do use stops.
also this is only 3 months , far to short to say great , make it a year and then see.
your return on cap is self professed at around 70% over 3 months . that is on your word only , your risk capital has not been publshed and neither have your stop losses , whch would detetrmine you per trade Reward to risk . I hope you do use stops.
also this is only 3 months , far to short to say great , make it a year and then see.
FetteredChinos
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wwwwww,
i think Wisest was making the point that you can make all these calls without specifying the risk..
if you remember the comedy experience that was Mr Market over on elite, you will remember that he usually had about 15-20 "revenue generators" on the go at any one time..he only went long, if i recall.
if you make enough calls, and only close out winning positions then of course you will on the face of it make a huge profit. its just the unrealised profits that are the problem. approximately 80% of moves on the indices (and therefore stocks presumably) retrace at some point.. if you buy after a substantial fall, there is likely to be a bounce..
im not being critical, just trying to explain where Wisest is coming from. unless you specify risk, then it is essentially just taking a punt..
i think Wisest was making the point that you can make all these calls without specifying the risk..
if you remember the comedy experience that was Mr Market over on elite, you will remember that he usually had about 15-20 "revenue generators" on the go at any one time..he only went long, if i recall.
if you make enough calls, and only close out winning positions then of course you will on the face of it make a huge profit. its just the unrealised profits that are the problem. approximately 80% of moves on the indices (and therefore stocks presumably) retrace at some point.. if you buy after a substantial fall, there is likely to be a bounce..
im not being critical, just trying to explain where Wisest is coming from. unless you specify risk, then it is essentially just taking a punt..
stop flaterring yourself .
since when is your " own journal and elite trader " a source of verifiable proof . let's see some official trades statements , if you really want to prove something .
anyway , 70% over 3 months ain't nothing special kid , it's mediocre . and we don't even know what the hell your risk is .
your could be risking 200% to get 70 , hardly great .
jealous my ar*e
since when is your " own journal and elite trader " a source of verifiable proof . let's see some official trades statements , if you really want to prove something .
anyway , 70% over 3 months ain't nothing special kid , it's mediocre . and we don't even know what the hell your risk is .
your could be risking 200% to get 70 , hardly great .
jealous my ar*e
Hi wisestguy and fetteredchinos,
I set my stops near double or triple support on an end of day chart. If that level is violated and confirmed with volume, I exit the position, and post my intentions for the trade on my journal and site before the open.
I Assess the risk to reward before a post each trade, and only post good risk to reward trades with high potential to outperform the market.
Hope this clears things up a little.
I set my stops near double or triple support on an end of day chart. If that level is violated and confirmed with volume, I exit the position, and post my intentions for the trade on my journal and site before the open.
I Assess the risk to reward before a post each trade, and only post good risk to reward trades with high potential to outperform the market.
Hope this clears things up a little.
FetteredChinos
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www,
well that's fine and dandy , but what is it in terms of points or $value . what you said does not tell us exactly what the R:R is .
you do understand this concept , don't you ? you can only calculate it after you close out versus where you put your stops.
you were also silent as to overall return to cap. at risk .
I think you do maybe above average , that's a long way of great.
so no , it doesn't really clear that much up.
well that's fine and dandy , but what is it in terms of points or $value . what you said does not tell us exactly what the R:R is .
you do understand this concept , don't you ? you can only calculate it after you close out versus where you put your stops.
you were also silent as to overall return to cap. at risk .
I think you do maybe above average , that's a long way of great.
so no , it doesn't really clear that much up.
FetteredChinos
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wise, give him a break will you?
Sell to close out CFSI (Collegiate Fdg Svcs Inc) position on Today's open.
see elitetrader click this link http://www.elitetrader.com/vb/showthread.php?s=&postid=693585#post693585 (top of the page)
Missed post here sorry.
And Buy ICGE (Internet Cap Group Inc) on today's open.
see elitetrader click this link http://www.elitetrader.com/vb/showthread.php?s=&postid=693585#post693585 (top of the page)
Missed post here sorry.
And Buy ICGE (Internet Cap Group Inc) on today's open.
danfreek
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wwatson1 said:
I think this would be a big mistake. Risk reward calculations do seem like a waste of time when you're in a winning streak, but they become the only thing between you and bankruptcy at other times. Jesse Livermore says as much in his book "how to trade stocks" He was a great market timer and was able to amass millions of dollars from virtually nothing, but in his early days he didn't pay enough attention to risk and so he ended up broke several times. He finally became consistent when he started to look at risk first, before every trade.
It sounds like your on a winning streak at the moment, that's good, but you have to take precautions so that when it ends, you don't take yourself out of the market, then you'll be there again ready for the next winning streak.
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FetteredChinos
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its a pun..
of a pasta.
and reflects my large collection of trousers..
big ones, small ones, some as big as your head..
of a pasta.
and reflects my large collection of trousers..
big ones, small ones, some as big as your head..
zigglewigler
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wwatson1 said:
I'm sorry, I haven't even bothered to read all of this thread, the above statement is all I need to know. Unless of course I've missed something, and this is all meant to be ironic.
