Article Let Your Profits Ride

T2W Bot

Staff member
1,503 117
Stick With The PlanThis may seem like a common sense statement, but the reality of market timing is that the majority of timers "think" they can stick to a timing strategy, however when the market moves against them, as it always does as some point, they are swayed by financial news stories, the desire to be "with" the crowd, and their own emotions, often exiting the strategy at exactly the wrong time.
Think about it. Let’s use a fictional market timer named Mark for this example.
Mark has a strategy he knows has, over many years, outperformed the stock market. Mark knows going in there will be times when the strategy will lose. He sees this in the historical trades. He accepts this or at least he thinks he does.
But then, the market turns against Mark’s first buy or sell signal and he is down 2%, then 4%. Mark is counting the dollars. He wakes up during the night with feelings of dread. Maybe "this" time it is different.
The next day, Mark exits the strategy and immediately...

Continue reading...
 
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damianoakley

Established member
542 57
"Letting Your Profits Ride" - one of the most difficult areas of trading to master in my opinion.


Thanks

Damian
 

FXSCALPER2

Established member
964 281
Not another advice about the basics, please. It is such inane pontification that makes me hate people like Van Tharp. Gee, I can kill these guys if it were allowed.
 

dc2000

Veteren member
4,766 129
Frank is currently the editor and chief market analyst of FibTimer.com, as well as president of Kollar Market Analytics, Inc. which runs several successful financial websites.

It does not say Frank is currently Chief financial officer of XYZ, Fund manager for intaglobalcorp or independently wealthy through trading

Let your profits ride so the market can take back tomorrow what it gave you today
 

damianoakley

Established member
542 57
FXSCALPER2 said:
Not another advice about the basics, please. It is such inane pontification that makes me hate people like Van Tharp. Gee, I can kill these guys if it were allowed.


LOL.............I love your bluntness FXScalper!

I know you're not a big fan of Van Tharp - but he does talk a great deal of sense.

You never explained fully on another thread why you detest him so much.


Thanks

Damian
 

pssonice

Established member
900 12
Trade with the trend is Frank Kollar telling us.

starting at 50k in mid 2006 ending in 2007 at 150k$
there is one question still to be answered
when do I ve to take the profits ?
 

the blades

Experienced member
1,336 275
pssonice said:
Trade with the trend is Frank Kollar telling us.

starting at 50k in mid 2006 ending in 2007 at 150k$
there is one question still to be answered
when do I ve to take the profits ?

for me, it's when a better opportunity comes along, and nothing to do with the current trend - which always has to be up.

UTB
 

Dembleton

Newbie
1 0
Very basis advice! We all know to follow the trend and let your profits run. However, this fails to define how to identify a trend and when to take profits. Trend following has a long history with little substance in the majority of cases. More explaination is required and the same could be said for this article.
 

damianoakley

Established member
542 57
FOLLOWING THE TREND AND LETTING YOUR PROFITS RUN.

There are probably hundreds of ways of doing both, and yet they are very difficult aspects of trading to master. I think that because there are SO many different ways you could do it, it can be difficult for many traders to know which method(s) to use.


Thanks

Damian
 

Grey1

Senior member
2,188 185
A very very good and sound advise. I would give 10 out of 10 to this article not because it is some thing new. Only because this is a MUST to remember fact.

Grey1
 

Splitlink

Legendary member
10,850 1,234
dc2000 said:
It does not say Frank is currently Chief financial officer of XYZ, Fund manager for intaglobalcorp or independently wealthy through trading

Let your profits ride so the market can take back tomorrow what it gave you today

But if it did, it would be somebody else's money ;)

On the second sentence, don't you consider moving the stop up? I do, when I'm lucky enough to be able to!

Split
 

Splitlink

Legendary member
10,850 1,234
damianoakley said:
You never explained fully on another thread why you detest him so much.


Thanks

Damian

:( Obviously, he's followed Tharp's system at some time in the distant past. There's nothing like taking bad advice to bring hatred out in a man :devilish:

Split
 

damianoakley

Established member
542 57
Splitlink said:
:( Obviously, he's followed Tharp's system at some time in the distant past. There's nothing like taking bad advice to bring hatred out in a man :devilish:

Split


Hi Split,

I'd love to know what bad advice has fuelled his hatred for Van Tharp.

Personally, I think Van Tharp's principles are sound and logical.

Each to their own I suppose !


Thanks

Damian
 

rcanfiel

Junior member
13 0
Rehash of standard industry preaching. Where is the PROOF? Add something to the collective knowledge, man!!!
 
 
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