Jimmy your missing the point. The sad sad sad fact. Most of the traders who will come in to our room or any room will fail. It just the nature of the business. They wont fail because our system is bad. They'll fail because they will not follow it. One great trader recently said that she could post her setups each day on the front page of the wall street journal and no one would take them. Skepticism, fear, inexperience, issues at home. Who knows exactly all the reasons why we fail. When we first started our business. The goal was to make sure atleast 30% of the people who joined turned in to profitable traders. This means that 70% would have to fail. If you see a way around that then we'll implement it right away. So can you do well with a $2,000 account yes? Is it very likely.. NO! I'd rather someone come in with a cautious attitude then a trigger happy one. CajunSniper / Puretick.com Administrator-Trader
About the failure rate, I'm sorry to hear about that, but that may be human nature, I honestly don't know if there is a way around it. 80% chance of success ... , rising to over 90% chance of success once the double digits are hit. Trigger happy ain't got noth'in to do with it, but then again, neither does being cautious. Good trading, Jimmy Jam
Im failing to your see your point. But then Im a stupid, crappy trader. On one side you laud RD, suggesting (his) trading success is due to position sizing. On the other side you laud RD for taking on large risks (while still in his informative years, suggestive that he was swinging for the fences.). Here's a couple of links (off of the TT site) regarding position sizing... http://www.turtletrader.com/position_sizing.pdf http://www.turtletrader.com/money.html So back on topic... the small account, when properly empowered with position sizing and money management, can be successful regardless of the style of trading. Is that what you are saying? The statement (although for only one day) suggests that. Osorico
Spectra, you are very thorough in replying to posts so I assume you just overlooked this one. If you don't know, maybe Alex can address it.
123Magic, Yep. Didn't see that one sorry. Ahh yes Alex makes no secret of his past mentorships and learning experiences. It's how he got where he is today. Alex has spent decades and over $100,000 learning to trade. Hes been in numerous mentorships himself (including TTM, Linda Raschke/LBR Group, Mark Fisher and others), purchased countless books and attended a number of seminars. It is our hope (and pitch) that by tapping in to his mind and experiences, you will not have to spend this vast amount of money to learn to trade. As far a hubert goes, I know onlywhat Alex has told me. That his tape reading class was very valuable. But they only teach that in person. CajunSniper / Puretick.com Administrator-Trader
Nice links BTW. RD's "risks" involved his ability to neglect the short term uphoria of cashing in winning positions at the expense of missing large moves. Dennis would explain that losing one's winning position in a trending market is a greater risk than losing the short term profit generated by that position.
You answer as well as the following QA from one of those links explains why, for now, I trade the way I do. I don't trade looking for the few outliers, although intraday, especially with an increase in volatility, I seem to find a few each week anyway. It doesn't mean any particular style is right or wrong. Q. What is the win/loss ratio of Trend Following management? Can it experience many losses in a row? A. Trend Following systems (and the Turtle system) trade for the outsized large move. Several big trends a year are your key to success. The strategy cuts your losing positions quickly. Consequently, a few big trades will make up the bulk of your profits and many small trades will make up your losses. Winning trades can range from 35-50%, but that percentage reveals little information since we expect more losses (of smaller value) than winners (of much larger value). Win/loss ratio, while a favorite of the novice trader, has limited use in terms of Trend Following analysis. Play what you see, Osorico