I have a 90% win rate. You can't achieve that by gambling. There's not much else to say Homey. If you don't like the method then notta problem. Just do your thing.
Not true. If I'm picking a bottom and we get one of those days when the market grinds downhill all day long I'm supposed to let them run? My method nets me profits whether we are in a downtrend or not. Either way I win. I'm not a "let them run" trader. I'm a profit taker. The amount of the move that I miss is meaningless. I'm just out there to collect points.
If you pick bottoms I'll give you the best advice ever. 1)Play them small. ------->>> Agree 2) Don't average down -------->>> You can't pick a bottom so precisely that you can use stops. Cardinal rule picking bottoms. Don't use stops but follow rule 1 religiously. 3) Pick them systematically (yes this is possible but the reliability is MUCH lower). When you "think it's bottomed" is not the definition of systematic. ------->>> I do have a systematic approach but this often fails. Today was such a case. If I adhere to rule number 1 I still win. 4) Use tight stops------->>> Never. 5) Get away from the computer and let it run big (don't even think of looking at it).-------->>> Not my style. Notta a problem if it's yours but each trader is different. I'm in a zone when I'm taking profits relentlessly. 6) (for the advanced) ADD on the way up. -------->>> No can do. I never chase the market. I buy down, sell up, take profits like a fool. Forget the rest. You failed 2, 4, and 5.
Yes, BUT depending upon where the market is trading on a daily timeframe you'd be smart enough to be short for obvious technical reasons.
If you followed rule 1 you're a large portion there. That's the big one. Systematic trade....you got it. 70% there. You're better than I had thought. With that said, that's enough to get your trading to break-even IF you take quick profits. I have a feeling that even at 90% accuracy, you're still a break-even trader for the simple fact of not wanting to let it run.
I don't use that method because I don't follow the market, I fade the market for reasons that are too lengthy to discuss here. It comes down to this....if this method ain't for you and what you do works then cool. I'm not trying to force feed this to anyone. Just showing folks a different way if they are open to it.
Alright, how do you want me to prove it short of posting weeks and months worth of brokerage statements?