Thanks Damir. What you said is very helpful. It's also somehow comforting to know a good trader like you often starts of in the red. Do you use (and honor) stop loss at all?
I focus more on actual dollars than points on stocks and futures. I know some people who only make 1 pt on the ES but do it on a 100 lot. -FastTrader
i use time-stops. but that is only possible because i have strict money management, without that part of it disaster could easily happen.
I don't understand time-stops and their relation to money management. Couldn't the YM go against you significantly by using set time-stops? Lets say your time-stop says get out in 10 minutes if the trade is not profitable....meanwhile the YM keeps moving against you throughout that 10 min. period. You get out, YM reverses. It'd be great if you could provide some more details on how you combine time-stops with money management. Thanks, -FastTrader
TWS has asked me five times today if I want to use their new version and I keep saying yes, but every time I open it again, it asks again.
It was a sad , sad day seeing all those reminders on tv. The worse thing is there are so many more loonies out there.
you can't, not in a strict sense. but that also applies to stop-losses. what i can say is that on a fully loaded day i can have '87 happen to me and i will survive.