Not @KCalhoun But tight is relative. Guess it's tight reward wise. He tries to max the reward to risk ratio. To be shaken out "a lot" is not a problem. Some guys do win "a lot" but ain't profitable. "you don't eat probability. Don't forget the payoff for each outcome." Ok. I’m out.
Yeah. The size is so ridiculously small. Where does the "trading millions" come from, I don't get it. I'm not a huge trader but $793 is a just a slightly worse fill on one trade, nothing to notice. I was down $16k just on Friday...
I don't think so. Markets are not like a job paying hourly in that they are not same every year, sometimes they're unpredictable and sometimes just a grind where only some fast scalpers make money. If there is volatility, you make more to compensate for the slow years. These are the markets where pros actually make money and the markets are always "Russian roulette" as you put it. I started trading more seriously in 2007, 2008 was a great year but without much capital the dollar results were insignificant. 2013 was terrible and 2012 was slow as well. Volatility is your friend.
Stops depend on the strategy. Saying "tight stops are important" is based on nothing or the trader is only familiar with one approach.
Good question, another tip is to use TRIN to help stay disciplined for being long vs short bias, eg focus on longs only when TRIN is <1
Right. Kcalhoun is a sponsor but a rather unique sponsor. We'd better don't offend the sponsor. If we do, ET administrator will come after us within seconds. Honestly he's quite a load of negative emotions. I wouldn't want to be near anyone ( sponsor or non sponsor) with load of negative emotions ; negative emotions will generate negative income. neutral emotion is a pre-requisite for positive income. for demo trading, negative emotions could generate positive income. Luckily for some of us, we don't have to hunt for info on how to trade. We come here to pass our time meaningfully & contribute meaningfully if we can.