Jack...I have some questions.....what is a C&R ? I use "flabby" bollingers set wider than usual. I also draw lines to indicate the high and low of the last session intersected by the 50% line to set the average. Is this close to what you mean? Thanks. Cathy
In other words, initiate a pre-emptive exit, if long, when: 1. Price makes a lower high. 2. The uptrendline is broken 3. Price drops below the last reaction high 5 cents, please. --Db
It's easy to DIY. Just pick up Mamis's books (an absolute model of clarity). Of his three I most strongly recommend The Nature of Risk and When to Sell. Or Reminiscences of a Stock Operator. Or Dunnigan's One-Way Formula. Or Sperandeo's Methods of a Wall Street Master. All of these are so easy to understand you'll weep. And all are available at your local library or through interlibrary loan. --Db
Lets have some examples here. Take a look back to the beginning to get to the present. Use a contract margin of 3000 bucks. Let daily profits be small 50 to 150 bucks: average of 213.453972 over 12 years. Look back to the beginning; my intial capital was 300 bucks and I added from my paycheck. We spent about a year to get 3000 bucks and permission to trade with our dad's signature and his account laying there in low 7 digits. The first month we nail down 50 times 22 or about 1000 clams (weasel food) Three months gives us a profit equal to a margin for a contract at this pace but we are doing a 100 the second month and 108.58352 the third month. It's 5,000 plus this inital 3000 and we know in two weeks wee go to two contracts. the second quartr passes with use weasel creeping up in daily take (all this is net) per contract). At the end of six months we are sitting with a bunch of contracts rolling and we are hitting 162.465836 av per day per contract. We project ahead to the end of the year just using present performance. Then we project 12 years out to see how it went to get to today. Read Gary Smith to see how it then goes forawrd into the future.
Db---your nickle is in the mail.....thank you for the clarification and suggested reading list. Much appreciated.
I took mine out so I would never be in a loosing position ever again. Go for it and it helps keep your profits down a little until you learn something more sexy.
LMFAO! You DID NOT just spell "quicksand" with a "k" (and a "w"). HA HA HA That's like spelling "cat" with a "k." Sorry, couldn't resist! FRuiTY p.s. This thread is hilarious!!!!!!!!!!!!! p.p.s. Jack will respond to me with something like: "you weezl. pleese put me on ignre premenantly." LOL.....
reread some I always slip several into the stream of thought. I was hoping to find the level required here to get any repsonse. Congratulations. It was good to see some alternative book references appear as well. I am avoiding a lot of flack here (flak) by getting others to come up with then in the context of the level of the people here. You're not a weasel as will become evident to you as time passes; when you are working to get a job done, the best strategies are often not quite as apparent as you might first (to use your common term) guess. Better guesses come with time. I'm hoping you will switch from carping to contributing. People are paying nickels for that around here. As they get a little richer you can expect greater rewards. During the week I have to focus on making money, on weekends I can do some housekeeping.