in all seriousness, this is what the markets were like from July/August last year, clear up until the hostilities in Iraq started. Once they started, the markets were even more dead. March last week saw some life return, and hence this delayed rally that we've been having. So, in short, things were already worst that presently
I've got the discipline, so now I'm curious. What does he consider 'risk' and what do you consider 'unreal'? And one more question, if he's out when hitting a target in a few days, is that the end of his trading until the next quarter?
His risk is almost always based on a technical level - if price moves against him and breaks a key trendline, or moves above a MA or a Fib level. He does not have a set "10%" stop. Most of his risk is 1:1, but I have seen him take compelling setups with a worse risk/reward. As far as what I consider unreal, he has averaged over 100% for the past two years. Some people will think that is great, and I am sure some people would laugh at it... He does not quit if he hits his target in a quarter, but only takes setups that are an exact match. The one thing he tells me is that it has taken a lot of time to fight the urge to overtrade, but as he gets good performance under his belt it gets easier. I said he tries to average a few a quarter - in reality he may have a few in one month, one the next, none the next, etc. EDIT: I just got an email back - over the last 11 quarters, he has made 31 trades. That is just under 3 trades per quarter. Now I am getting worked up and am going to focus on becoming more disciplined!
I also have the discipline but am curious about a few things: How does he do in sideways and downtrending markets? Is he as good at going short as long? Does he use fundamentals at all? Does he use price patterns and/or S/R?
Oops - sorry. I just noticed that you said he's all technical not fundamental, but I'm still curious about the other questions.
I sent him a link to this thread and told him to sign up for ET. Hopefully he will post in the near future. Short to long mix is 75/25 - more short than long. On down and side markets - there are always stocks going up or down regardless, you just have to find them. I will have to let him address the rest.
I don't seem to be having any issues with the 'market'. Maybe you should stop blaming the 'market' and adjust your trading to work with the current market conditions. -FastTrader :eek:
Bored? Try playing w/ something *other* than your main trade area. Don't screw up your big trades because of boredom. I usually toy w/ small lot option plays - takes a bit more creativity, usually don't make all that much, but they're almost always there. Just don't let them run too far against you. Otherwise, yeah, go outside and enjoy the sun. Try backpacking in Southern Jersey (wherever that is).