Readers can check for themselves and see that the ATR on NDAQ was on a 1 min chart and on AMZN a 5 min.
I rarely use ATR - shock horror !!!
My position size varies with several factors, but with many middle priced stocks which are behaving readably 1000 shares is common. Of course I do not trade 1000 GOOG at a time. A slowly moving stock might have a size well in excess of 1000. And there are many other factors which grey doesn't know about.
Why grey wishes to continue misrepresenting me is another matter.
And by the way, I have never said I am profitable on 99% of trades. It is only 84%.
However, the losers are always small.
I also see grey1 often trades in 1000 share lots eg KLAC the other night. Such a round number was just co-incidence I suppose.........and it shouldn't have been 1003 or 995 or whatever.......
But all of this is irrelevant. One of the aspects I use in my trading is momentum with very tight stops, as anyone who objectively reads my posts and takes the time to understand realises.
This is something which grey does not seem to understand although I understand the broad principles of the way he trades and when he actually sticks to it seems fine to me.
Not knowing the detail I can't be sure, but it is just another way of making money from the markets and I would not be so closed minded or arrogant as to criticise his methods.
There are some trades which look rather strange to me, but that is his business.
No doubt he thinks that way about some of mine ;-)
I would not choose to denigrate him or the way he trades - it is simply a different way.
I do things differently, as do many others. That he cannot understand, but really shouldn't think he has some sort of monopoly on being right. The latter attitude is dangerous.
If however grey wishes to continually criticise our way of trading, it is of zero consequence to me.
I notice that his erroneous "explanation" of timaru's trade the other evening and my comments have gone unanswered and unaddressed yet again.
I do happen to believe that if one gives "explanations" of something on a BB, one should either couch it in terms of "possibly" being correct, or, much better take the time and effort to find out whether the so-called "explanation" is actually right - readers may wish to compare his approach with mine in the two posts I mentioned earlier and make up their own minds.
From my previous dealings with grey, I see no real purpose in "debating" with him as his attitude is one of intolerance and barely concealed personal animosity. That is irrational and not healthy and plays no part in serious debate or an exchange of views.
I also find it difficult to understand the way he frequently speaks of wondering about taking over night positions. For someone risk averse such as myself I never do that as the risk is too great for my liking, especially in markets which frequently gap.
That approach doesn't sound scientific or analytical to me. It seems more of a gamble and I can't stand those who gamble on the markets.
I also feel compelled to say that it is not my fault if someone I have taught blows their account. I give everyone a detailed trading plan which involves first extensively paper trading and reaching set targets before trading for real; then trading 100 shares at a time until they reach targets before slowly increasing position size over a period of many months. Failure to reach targets means you do not proceed.
I remember him starting his private board on t2w when one member expressed the view that grey's taking of an overnight trade and his accompanying comments looked "sloppy" - in that person's words. I certainly agreed with that member and get the same impression about the KLAC trade the other evening.
The fact is if you post on a public BB you should expect disagreement. I think the situation is different if someone is running a hate campaign and trying to spoil threads, then by all means go private - but one little comment by one poster.......?
Now grey can continue to mis-represent me if he so chooses.
However, I am offering you, Iraj, the hand of friendship and peace - and I see no reason why you shouldn't take it in a spirit of grace.
I don't particularly want to see this thread spoiled by your behaviour, but ultimately it is of no loss to me personally - just a shame for the curious reader who likes to see how others trade..
Put forward your own views as you have a right to do, but don't make it personal and think by saying "it's not personal" that excuses you from such behaviour.
Now I have spent a fair amount of time writing this post and will not be posting in the immediate future as I have other more important things to do than deal with this silly nonsense, but don't let anyone think I have stopped posting - far from it.
There will be plenty more posts to come from me, some of which grey won't like one little bit because they are a completely alien way of trading to his.
So for the very last time......... Iraj, how about peace from you?
If you feel you can't help yourself attacking me then at least have a truce which can lead to peace and mutual understanding.
It's a genuine offer.
Richard
