OK I started this thread so I might as well comment. It took me a long time to learn about risk management as well. I would run these ridiculously why stars or have a mental stop. When I finally learned have a hard stop in the order system so it will execute automatically things change dramatically for me. Nobody's talking about it but I had to manage the upside is well. All of my orders also have a limit exit at a preset profit.
Managing upside is a big part of prudent risk management. Most folks think it's just about placing stops.
Three quick questions... 1) Do you consider risk management an edge ? 2) If you answered YES to the above question...is risk management your only edge ? 3) Do you consider stop/loss management to be risk management just as you would consider "profit target" to be risk management ?
Okay, this is very interesting for ES I have stayed out of any trade in first 30 minutes... using my entry criteria I just back tested last few weeks for NQ, for the 11 days that would have signaled and entry, 8 would have hit a 10 Point target, only 2 stopped out at -5 and one break even. When I get time I will go back at least a full 30 days of trading.... interesting
It was me that asked with a grain of salt if you've got top/bottom of each leg. I have no doubt you could have taken the trades you said. There is nothing extraordinary in catching 2 swings like you did with entries/exits 1pt from top/bottom of each swing, provided it happens once in a while. What is extraordinary about your feat is that A. you try to catch big intradeay swings yet rarely hit 3pt loss. you claimed to be a trend trader No, trend is not in the hindsight, there is specific PA that tells whether the market is currently trending up/down on a given timeframe. Or there could be any other metrics that once determines for himself if the market is trending up/down. You decided to share a chart and I posted specific comments as it didn't look like you entered with the trend and exited before there was any change in the trend. Then again you reversed not following any trends. Actually the charts is contrary to what you say, hence my valid question. The trend continued and market kept going up but you exited on around 1pt pullback from the top tick that was just made? I didn't bash, I simply asked whether you could shed some light on your thought process regarding reasoning for entering/exiting the trades. Perhaps sharing your trading stats would be enough. Not to bash or criticize, but to open or continue meaningful discussion about trading, that's what this forum is supposed to be about. You didn't have to share "the keys to your kingdom", just simply answer basic question or my concerns. And I didn't ask for any "proofs", the thought process would be enough to keep a friendly conversation. Instead providing simple commentary to the chart you posted you went a great length to bash and insult others claiming we are losers here only to steal other's work, including yours. I don't think that my honest and courteous questions reflect negatively on me, rather your inconsistent statements are something to think about.
Of course you don't need to prove anything. You can just post what you think, engage in meaningful discussions and ignore those that are negative. There is a difference between trolls showing up to contradict others with their negativity (which you can chose to ignore) and those that comment nicely pointing to some inconsistency in your claims and asking (again: nicely) you to shed some more light, not your secrets.
i will share (half) a edge for the first 30 minutes, there are nyse indicators that will signal early which direction the trend will be for the rest of the day. "WHEN" combined by a opposite move in the futures prices. so to be clear the nyse is showing strength early and the futures is violently trading the opposite direction. a divergence between the broad market and the futures.
If anyone were to ever read the book, beat the dealer, they would realize that risk management is one of the biggest aspects of any sort of probabilistic based wager.
I am on ET for many years and had enough experiences to conclude that I will only give very general remarks but no real information anymore. I was very open, even naive, when I came to ET, but I have grown up. Bashers helped me to grow up (and limit the damage of giving away too much).
Anybody claiming they have grown up usually points to the opposite. You don't understand what I asked for. It wasn't your edge, trade ideas, signals etc. There are many ways you could have answered my concerns (i.e. with trading stats, you didn't have to give out anything meaningful, let alone any "secrets"). Anyway, keep beating around the bush. Bottom line is that you make contradicting statements and when asked nicely to clarify (in any way that you see appropriate) you have nothing of value to say. Sounds and smells like a BS to me. There are many established traders on ET and somehow when asked they can provide valuable answers. Makes me wonder why do you even post/visit here since you don't intend to give "real information" and all you expect from other posters is bashing, trolling, negativity. Rightly so, if you intend to post such replies this is exactly what you will end up getting sooner or later. Perhaps instead of blaming others you should then look into your posts. Your post count and years on the board are meaningless like the number of webpages on the internet. The only thing that counts is whether your post can provide some value. My $0.02 Happy trading