If you're winning 10 trades out of 11, and you're prepared to acknowledge that your system works "for now" and may (will) need to change when the market changes personality... then run with it until you need to change... no system will last you for years (or even months)... just make money with what you have while you can.
vinicius
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Are you gay?
megamuel
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Can you give me £1000
rags2riches
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new_trader
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Traders who develop a proper methodology have a skill that WILL last forever. Markets only 'change' for system traders.
Tell me, how do you judge your entry and exit points if you do not have a "system"? Perhaps you use guesswork or "intuition"? And the market personality is always changing... or have you been asleep for the last 12 months?
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Technically Fundamental
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*waits for NTs long-winded response*
Technically Fundamental
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I know but I want to see how he writes it this time and how rude he is to the new guy /how many times he insults the new guys intellect
Technically Fundamental
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I have an intellect? Gee, thanks
I dont know but now that you questioned his motives NT will assume you dont have one.
Just today I've increased my equity by 8.24% by scalping 28 points off the FTSE100 (4 trades of 7 points each at 2% increase per trade); I'm 92% up since the end of April and haven't had a negative trade since 23 May, so I'm feeling pretty invincible...
I'm willing to let anybody take me down a peg or two at the moment just to keep myself grounded. But whatever methodology NT uses, it better not be "intuition" because I'm just going to laugh at him if it is.
Rossini
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Nothing wrong with using intuition in trading, however newer traders seem to think they are using intuition but really all they are doing is gambling.
If your results are based from sound trading then well done, but if 7 pts is 2% of your account then you must be very highly leveraged, what stop size do you use?
Technically Fundamental
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Do you place your bids with Coral?
But nobody ever gets it.
Technically Fundamental
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I get it. I hope what he says is true.
I'm spread betting, my leverage is 9:1. My automated stop is typically 40-50 points away. If I get stopped out I lose 19.9% of my equity, but the risk reward is better than it looks since my win rate is high.
Break even on these figures is 10 wins to 1 loss, but I have always pulled the plug before my stop loss gets hit... I'm currently averaging 17 wins for each loss and losses have been between 7 and 12 points.
Looks like my current bet is not going to work for me since the index has been ranging between the top and middle Bollinger all day, so I bought on the middle Bollinger (something I never normally do - so, I taught myself the lesson for the day!!!) As soon as I did that the price tanked 20 points.
I'm going to hang on to this one though as I'm confident it's coming back up for a break even or it might even pull a profit.
Even if it doesn't do it today, I might consider rolling it since the dividend payment tomorrow will more than pay for the rollover cost.
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