Last the few posts. Talk about getting off topic. No wonder serious Traders get pissed off with Elitetrader. Too many muppetts high jacking peoples threads.
Bobby, you should never have a position on that could blow you out. Even a 50% hit is unacceptable. Remember, you have to make 100% going forward just to get back to even. One of the things most traders struggle with is actually not being able to make money, but rather being able to make money with risk controls. Anyone can ride beta. A good seasoned trader can keep his risk limits within that of the overall market and still earn a solid return. You really need to re-think your risk Bobby. You can dodge land mines for years, but sooner or later, you'll miss one and it will be over.
Yeah, serious traders usually don't follow a strategy that just blew up a fund. Granted, people could (and hopefully are) trading with much less leverage than Karen, but still....
We're all serious traders -- appearances can be deceptive. who the heck would hangout at trader forums because it's fun and sexy and exciting and entertaining. Smart ppl can actually be dumb, and dumb people can be smart. and good ppl can be evil, and evil ppl can be good. Free Your Mind...as Morpheus would say in the Matrix 1999 movie.
Some of us just have lost our Serious Trader card. But it said on its back that Serious Traders don't post in non-serious traders' journals. Also, what if it is the implementation and not the strategy itself?
If this is a 150k account that's basically up 3k after 4-5 months of trading it then this strategy doesn't even make time/money/risk sense at all. You could literally sit and wait for some mindless S&P rally/trend day, hop on an ES 10 lot and be done with way less time, risk, and controllable exposure.