%% That works well, very well, with good trenders. I do like the last half ,a bit more profit than break even stop; even though sometimes occasional gap will wipe out profits, last half...... WHEN i used to trade single stocks, regular, I positioned sized it IF a 50% gap happened\ = OK.
Frequency of profitable trades HIGH WIN RATE over same time period required to make the one high profit low win rate blows the latter out of the saddle. Not to mention compounding. One can potentially become the fastest discretionary trader ever! ROFLMAO.
Exactly. When I start the day, I have _some_ idea of a trend day developing. Often I'm early by a day or so, which means I need to take this into account as well. But... Trend days + runners = free $$$. Most days are not trend days though. When I am near resistance, I'd rather just take the money and run than "hope".
%% Good shots so to speak. THAT video above you, wow,, that six shooter is actually faster than a rattlesnake + much more deadly................................................MOST of my tech ETFs are good monthly trenders, past 10 years. Nothing like good monthly trend, even though 4 hours charts are helpful some times. But with seasonal SEPT sells, sell @ resistance, or sell early LIKE that six shooter= fast.,
Indeed, past 10 years have been fantastic for trending. I hope my new skills carry me for the upcoming 10...
%% Good shots volpri. WOW that speedy six shooter maybe faster than a rattlesnake or Herb Parsons. Winchester -Western hired him in 1929. He love to shoot washers, ''ding'' out of the air. One time it seemed like he missed?? ''I shot thru the middle of that washer''/LOL Herb Parsons said. Then he said bring me a postage stamp , stuck it to washer+ proved it, by the hole in the stamp. He was old school/told the truth!! MOST millionaires in the stock market are market makers or investors buying very month for 40 years........................................................................................................................
Win rate is totally irrelevant, many of my most profitable days I'm making 30-40% wins. Lots of tiny stops, fast draw shots, outdone by wins whose aggregate profit is larger, is what counts. eg 20 stops at average $50/stop = $1000 loss, VS 10 wins at average $140/win = $1400 yields net $400 profit being right just 33%. Like ddog said, whatever makes money is what matters.
My new policy is to sell half the position once the trade hits a 20% gain and let the other half "ride". Here is a recent trade I had...30% gain to break even. Selling is the hardest part.
Have you ever taken your own combine test/trading deal, as your company rules dictate? If so, how did you do?
Ok ok ….if no one wants a high win rate and had rather have a low win rate how about a high win rate that scalps AND at the sama time lets runners run for those great big wins. Win/win?? Or something wrong with that too? Why in the same hell would anyone prefer a low win rate? A trader can only make money on wins. A volley ball team only gets the championship by winning. Bama was number #1. They lost 1 game and find themselves at number 5. They lose a couple more games maybe just one more and they can kiss the championship goodbye. Tampa Bay Bucs win because they got a winning quarterback. Yes, a quarterback who believes in winning, not losing. Mr Brady does those things that make for a winner. His lifestyle he adjusts to keep him winning. If a trader has a low win rate is something wrong?? Why be happy with the “Hail Mary” pass of trading? Yes, make those trading first downs! Make those trading 3 down conversions. But don't get in the red zone and can’t punch it in. Leave a trading “runner” for punching it in. But failing to make those trading first downs and third down conversion will render a trader to relying on “hail Mary” pass for $$$$. Then there is always the problem of market interceptions and “puke six”. The best defense is a good offense. Those 5 and 6 yard runs and short trading passes keep the $$$ moving down the field. And increase the odds for a profitable breakout that makes even more $$$. The longer a TR goes on the closer to a BO (pass..think a Brady BO pass to Evans) pass event the game is getting. GANN was right “time” factors in. Trading is a “high performance” game. One has to learn how to navigate the unexpected and the variables and still come out ahead. Relying only on the “big play” is not the way IMO. NEVERTHELESS, a trader should want to capitalize on the big plays when they occur. However, them little plays aren’t to be discounted at least not in my books. LOL.