This all happened in 2008 when the market was acting all crazy, but that wasn't the reason why I made money. It has taken me 4 years later to realize exactly what I did to make that money. Back then I didn't realize that I was buying pull backs and letting my winners run. Right now, I'm testing out this same concept, and I like the risk reward so far. For example, I had four losers in one day and then the next day, I had one winner that wiped out all my losers and put me in the green. I was listening to a interview the other day, and this trader said he only risk one bar on each trade, but when he wins he could win up to 15 bars, 20 bars or even 40 bars. I said to myself this is exactly what I'm doing. Now I know some might say well trends don't happen all the time and you are right.. But you don't need trends all the time, all you need is movement. You are not going to hit a home run every single day. But as long as your winner is bigger than your loser than you are good. All you have to do is go to your charts and study pull backs. Become a pull back specialist. Once you got the hang of that, then look for ways to hold your winners longer than normal. For example, you can hold until the next support level (I don't do this), or you could trail your position using price action, etc. There are many ways you can do this, but for now just go study your charts for pull backs... And then get yourself used to holding your position longer than normal.
i don't see the point of this thread ... you had some questionable success 4 years ago and had some sort of "AHA" moment 4 years later and now your looking for others to agree with you? there are many roads to success but doubling your money every WILL NOT LAST best of luck DD
Not everyone isn't going to see the point of this thread. Especially the closed minded. I'm just trying to point out a couple of things that could help out traders.
Yes, but this is basically like saying: "If you want to be healthy, you should exercise and eat well." Trading pullbacks in a trending market is not bad advice, but such wide generalizations don't really have much practical value, do they? As they say: "The devil is in the details..."
Pullbacks make plenty of sense. You are 1) with the trend 2) getting in at a good price which makes managing the trade less painful and benefits your Reward/Risk ratio.. in the '90's when the Tech Sector was running wild and I was working fulltime I used to scan for pullbacks, buy them at noontime and sell them after the open the next day. I'd benefit from the trend, the pullback and the overnight gaps that usually happened. What's with DDmaster? Did he have a losing day, is his testosterone way low, is he blaming his boyfriend for his bad day?
An important lesson is Winning big and losing most or all shortly after. Is this what happened in your case? If so , I hope you learned not to risk so much and if you didn't risk that much than you did a damn good job pyramiding keeping your risk low but I believe the former is what happened.
firstly no i did not im currently on a wining month and year and the year before that ! contrary to the way you live your life im not gay. did you not read this guys title , he once made 100% in a week and has spent the last 4 years trying to replicate that and like i said before that will not last he cannot make 100% per week its just not possible to sustain that kind of performance. if he was able to sustain 100% per week starting with 5000$ he would be able to pay off the US debt deficit in 32 weeks and have about 6,470,000,000,000$ spare change , does that seem feasible to you mister EIGHT ? , if it does than id consider you a fool . 'A fool and his money are soon parted' best of luck to you in your future trading , seems like you need it... DD
I never said I have spent the last 4 years trying to replicate what I did in 2008. Just recently (2 weeks ago), I figured out what I did to make that money. And also, I never said I was going to double my account every week. Matter of fact, I didn't even use no compounding strategies. I turned 5k into 10k in one week using one contract. This is what I'm trying to get inside other traders head. That holding your positions longer than normal could benefit you in the long run. Now is every week going to be like that ? Of course not...
So only your the "Double Down" Master? I find it funny how you say WILL NOT LAST in huge bold letters, then go on to say best of luck lol why do people always assume everyone compounds every trade?? When your speaking of futures, each trade in itself is already compounded. To the OP, so you made 100 points that week? You havnt traded since then until just now? What made you want to get back in? In 2008 i know the swings were alot more wild, 50 point swings would be common, its not as easy to make 100 points these days. That was bear market volatility, the past couple years has been bull market volatitlity mixed with alot sideways action. People who got comfortable with just shorting strategys had to adapt. Think the last 6 months is getting closer to the same types of wild swings, but in a different manner. Even if you have an average risk/reward of 1/10 lets say, there is alot more to it than that to be profitable and for it to stay that way.
5k to 10k in one week. that is too slow. yesterday I did it in 38 minutes. bought AAPL 540 put at 4.15 at 15:00PM, sold it at 8.15 (did not sell out at 8.8 limit order) at 15:38pm. but when your account becomes bigger, doubling it will be harder and harder. since if you have a large size, you can not get in and out so quick. or you move up to trade big S&P 500. held a little bit longer, that is too vague. as i pointed out in "why 5% win" thread, trading is not a regular job. reward/efforts is impropational to time. stay longer does not mean "win more". all about timing. trade pullbacks is a good idea, but a bad trading habit. it is a bottom picking strategy. why? you buy when it moves down in an uptrend, who knows it is a pullback or reversal, also you can not define risk technically (you do not see the bottom yet). take an example of GOLD yesterday, you may think drop 30points is normal in gold, so you buy, but it reverses and drop more. in an uptrend you do not need buy cheap, you just need buy on the right time. if a healthy pullback, and the trend continues, the market should go through former recent high, and higher, so you will make money. I thought crude will hit 110 this week, but it did not so far, so i do not buy!