What do you think? Are you rooting for one side or the other? If I were the OP, I would also start a trading newsletter (the kind they send via emails). OP seems to know very well the average Joe Trader, and express things in words that I would think would resonate well with Joe Trader. He can also monetize his letters easily.
Could I give the honor of the first attempt to answer to another person including the OP before I chime in ? But I would not leave you empty handed particularly given your nice and polite request, so I would give something. My explanation also tell me that I should NOT trade with stop losses in such environment, and also from time to time be ready for the possibility of seeing my head handed to me if I were to trade in non heavy nondiversified media (SPY should not be one of them).
Thanks for the advice. I can handle trading without a stop loss when I trade stocks. But my main focus is the ES and ALL of my bad days occurred when I got stubborn and ignored my 'mental' stop loss (as I'm sure you can imagine).
I meant actual stops not mental. Those should always be there. One way I think of rule 6 is that I become a harvester of stops. So if I sell stops dear I should make sure that I do not buy at a higher price.. The risk being that I could be harvesting right before a steamroller... A difficulty here is: how would I know what is noise and what is noise of a steamroller, and from which direction my danger would come from? I do some of rule 6, but with small size, not large size as stated. To fix the low return, I would repeat. My broker should of course love you for it, but they do not say as I am not an elephant at the present time.
Haha, seems to work for Joe Ross! The stuff he writes is usually either regurgitated banalities or just total garbage, his posts in this thread are a classic example.... He's a salesman trying to promote and sell this shit, some people are gullible enough to fall for it I guess!
I am talking about your comment to Joe Ross, sorry you did not grasp: I am afraid to state that you DO NOT seem to satisfactorly understand what statistical models are. There are two parts: statistics and the model. You focused on the numbers. You do not understand the model part.