Whatchoo talkin bout, Willis, lol LnS disputed the figures, so provided the source. Is that so wroooong, lol? Relax, have a homebrew my friend. Word dropping, never heard that phrase before. Have heard of name dropping but... word dropping. I like it. Where'd you come up with that one?
Maybe you have me confused with someone else who claimed "that trading without a stop loss is absurd" hell i don't care what anybody wants to do with thier money, why should I be. I'll promote that they be as reckless as hell with it. lol Relax Have a homebrew, my friend. Nice try, lol. We both know better or you woulda quoted that post, nice try tho. You make any money today, LnS?
LnS, hey your jibe reminded me so I checked that first page, lol. Damn, check it out holmes. You're right! My humblest apologies. I shall Never Use Any Stops Forevermore. And the Rest Of You Should Do Likewise. When It's Time To GTFO, Overnight will Ring The Bell and Hit The Red Button. This just got easier. lol I'm gonna go Have a Homebrew.
I'm happy being right 50% of the time. In a raging bull market my system lags and look pretty damn good in years like 2008 & 2020. Keep in mind the first priority is to protect capital. I prefer to keep things really simple. Although I still struggle with whether I should sell too soon or too late. I don't think that'll be a problem. Part of my criteria is liquidity.
Dude, I found a New Word and Boy am I Excited! Check it out, tell me what you think... Old and pedestrian, "I shall Never Use Any Stops Forevermore." New and Improved, "Henceforth I'll Use No Stops." Oh, yeah, and saves space too. Well, what do you think, my man? Good Word Drop, no?
No one said not to use stops lol, I just defended the notion of not using stops. And yes, I did make some monies today (2% gain).
Post up a chart over at Any daytraders get their numbers Today? https://www.elitetrader.com/et/threads/any-daytraders-get-their-numbers-today.359522/
As I have mentioned in the thread here, and which is pointed to in my journal, I have given up on using stops for now. I trade only futures, and am certainly not trading size. My risk management boils down to, "I do not have any in the classical sense." The question easymon1 used to quote me from another thread was in the context of..."If you are investing in a mutual fund or ETF, why use a stop? It is a long-term investment." If you buy an instrument for trading, then you will naturally treat it as a short-term vehicle for your monies. So stops may be viable mechanisms to reduce risk of major loss. But instruments like low-cost no-load mutual funds are buy-and-hold strategies, so why use a stop there? They are LONG-TERM. That is how I am treating the futures currently. Long-term investments, but they are levered. I am more comfortable working with those than things like 3X inverse ETFs.