I must be a modern Rip Van WINK-ull Musta missed sumpthin', somewhere. Mayan calendar? Since I rely upon numbers, I would hope it was just a clever way to terminate a blog.
I do it for a few months already @ StockTwits & Twitter with some explanations in my journals as well as some longer-term plays (mostly options). Sorry for the delay with an answer, simply was away for some time and didn't day trade actively or checked ET. For the case you are interested, welcome to follow my calls @ where I said above I do them and ask any questions you want, I'll try to answer them as much as I can. P. S. And no, I am NOT going to sell any magic indicator, trading system or whatever.
Do any of you who preach tight stop truly understand probabilities?If yes , please explain probabilities of different stop distances getting hit.
I called a couple of live trades today and explained one of them, specially upon your request. As for probabilities, yes of course I know all stats related to my own signals in relation to different stop-loss, profit target et cetera. And I picked tight stops, because it provides me the highest profit in units of risk as opposed to wider stop. I must mention though, that sometimes I may use the wider stop, when signal or price action suggests. Tight stop is not an idol for me to worship, it's just the tool to optimize my trading.
Just curious what happen to your another 11 "open trades", each of them are currently in red and has a wide SL of 800, if they all get hit, you are actually going to loss 8800 ? Also, how can you have the buy and sell the same instrucment (EUR/USD) in the same time ? Is the broker allow you to do so ?
You are wrong. There are many succsesful day traders and those people would never reveal how they do it so they would never post stuff on a site like this. They real successful day traders are very very secretive but they are out there. most of them trade situations and news not techinals from sites like briefing and thechopreport. sorry but they are out there