Depending on relativity, your trade relative to the market size. But that is just my opinion, not based on my results. Can't argue with that. Would you believe, in one of my live trading days recently, as an experiment, I made 56 trades, 30 wins but profit was only slightly above daily average! Great post. Appreciate your perspectives. Final point, I believe @volpri's method (reward:risk < 1) works because I am using it now to trade live. The devil is in the details.
Let me show you folks the results of 2 years of realtime paper trades, using 2 different methodology, each consists of about 120 days of paper day trades. Here are the two different approaches: 1. Applying the "best practices" of what conventional wisdoms espoused: High R:R (reward:risk) ~5:1; tight SL; let profits run... 2. Applying the "@volpri" approach: Low R:R ~1:3; wide SL (relative to R:R); grab quick profits... Here is a quick summary The 2 consecutive losing months was why I quit that method, even though the profit is ~5.5x (w/o the two, >8x) of @volpri, I terminated the paper trades and moved over to trade @volpri's approach. I never found out why two losing months (the method did not change). You decide. Caution: Doesn't prove anything, just two small sample tests
I want to be an EliteAnalyst. What are the current trends ? What's the news ? Does it reinforce or weaken the trend ? What are the consequences ? Time and cross-sectional ? Go with the flow. Think one move ahead. Put the odds in my favor.
Remember, the turtle wins ! ChatGPT can help thinking ahead That's not sexy but the goal is to make money. I mean .. That's what it is made for. Aggregate all the noise and extract meaning.
I think you suffered from mistaken identity. This turtle is not the Market Wizards' Turtles nor @murray t turtle.
@Sekiyo was kind enough to summarized a bunch of @SteveM's posts here: https://www.elitetrader.com/et/thre...rading-experiment.381755/page-14#post-6048324 His posted many "teaching" posts. For me, it represents "hunting for BO" which was the first 6 months' sim.