If you use stop losses then you are essentially gambling

Discussion in 'Trading' started by wxytrader, Feb 15, 2024.

  1. wxytrader

    wxytrader

    I start legging in on the single correction and continue lagging in on the double correction (if it has a double correction) and at that point the bottom is essentially in. I prefer there is a double correction as I get to load up more shares of course. :)
     
    #51     Feb 15, 2024
  2. deaddog

    deaddog

    True there is no magic. It's one way to control your risk.
    When your income comes from trading I prefer to have as much control as possible. I can only control what I do, I have no control over the market.
     
    #52     Feb 15, 2024
    rb7 likes this.
  3. SunTrader

    SunTrader

    So then why ever sell? Hold .......................till the grave.

    ! img_2968.png

    And people ask the silly question why do 90%+ of retailers that believe such horseshit lewzzzzzzzzzz in the end.
     
    #53     Feb 15, 2024
    TrailerParkTed and rb7 like this.
  4. Just like democracy is the worst form of government, except for all the others?
     
    #54     Feb 15, 2024
  5. zghorner

    zghorner

    You are also increasing the size of future losers.

    Listen I get it, we aren't exactly in disagreement. SL work best for day trading. I do think you need a max drawdown exit though...I've been severely burned position trading by averaging...it doesn't always work out. You are probably just a better trader than me so I'm really not in any place to argue.
     
    #55     Feb 15, 2024
    billv and SimpleMeLike like this.
  6. wxytrader

    wxytrader

    Sometimes the best trader is just the biggest risk taker. I mean TA helps of course...but it mostly comes down to the process. Anyway, with an etf or index the potential of future losses is zero if you don't realize losses. If things go 2009 bad then its just another opportunity to load up.
     
    Last edited: Feb 15, 2024
    #56     Feb 15, 2024
    SimpleMeLike likes this.
  7. wxytrader

    wxytrader

    You would have do be in a democracy to know wouldn't you? ;)
     
    #57     Feb 15, 2024
  8. zghorner

    zghorner

    Of course. Who is arguing that averaging the s&p is a terrible idea lol?
     
    #58     Feb 15, 2024
  9. wxytrader

    wxytrader

    Not dollar cost averaging...if you aren't down at some point then you are doing it wrong.
     
    #59     Feb 15, 2024
  10. Hello wxytrader,

    Are you referring to DCA dollar cost average without stops with intraday trading futures or stocks? intraday meaning all trades close by session close 3:15pm
     
    #60     Feb 15, 2024