Thanks, Red, I get the picture. And thanks, Big C for the endorsement, I'll go look Red up. I seriously need to learn how to trade.
Hmmmm... interesting observation Socrates. Mebbe onea these days I post my chart; all I got it horizontal blue lines. Mebbe I have them "channels" I pick up more than 26 sim ES points a day. Hmmmm.... As Red pointed out, there are as many ways to trade as there are traders. I guess in a couple weeks we see if ah'm onea 'em.... I do appreciate what you do, and I ABSOLUTELY appreciate your humor; you are probably my primary source of entertainment at the moment (is that SICK, or WHAT?) Now I forgot the point of this post, too many martinis... Good Trading, Big C [EDIT] P.S., Socrates, I been hangin' around here a loooonnnngg, looonggg time, I just keep leavin' and forgettin' my alias/and/or/password.... It were me, I would figure, Jack is a dead giveaway all by his lonesome, no need to go bashin' him.... just my two cents (before taxes, ah course) [/EDIT]
OK, Cabrito, I know you are just jiving an old man about going live next week, but I love a good gag. Plus Cou-Rouge said to let fly with the madvice. So here goes. THE assolutely most important rule in trading is to have a fixed stop loss tuned to the instrument you are trading (this very un-SCT). There is a stop beyond your habitual entry beyond which the entry is almost always a loser. For my style of trading with NQ, that stop is 3 ticks. I NEVER EVER let the trade get away from me by more than 3 tricks. Why? Because just maybe there is a better entry in the same direction waiting further away (highly unlikely). Or because my entry was dead wrong and I need to get ready to change my mind, ideally understanding why (very likely). This rule is the sucret of whater sucksess I enjoy. While I have proved to my satisfation by backtesting that random entry with money management is a crock, you never know. It just might work. If so, the stop is the sine qua non. I prefer to think that I (or rather Joe Doaks) is a system design genius. Alternative opinions are welcome.
Maybe Ehorn can answer a question i have for himself (or any other SCT student)? I realise that SCT is nothing but everything so ambiguity is prepared for. Question: Why do channels exist in different sizes (depth and timespan)?
Actually, Soc, my backtesting shows random entry with money management is a breakeven strategy... now, who wants to breakeven? But still, better than the alternative. This ain't no gag, 'mano, and I absolutely hear ya what yew sayin'. I gonna write up my tradin' rules and be postin' 'em to my 'site (which I PM you later). I be tradin' ES, for me, 2 points is the shitz, I can usually get an entry that allows me 2 points or less stop loss, whilst allowin' potential 10 points gain, not a bad tradeoff given that I'm enterin' on high probability setups in the first place... As I said, I trade just like you, I'm sure you know what that means. 'preciate the free advice, Big Cabrito
Posted by Jack on our sister thread: "See the attached as a wrap on bootcamp and a wrap for me in ET." Have we heard that before? He is an unrepentant multi-recidivist attention whore like me. He leaves ostentatiously. I get lonely, feel like my life is rudderless, contemplate sewercide and beg him to relent. He graciously returns. Then reminds me cruelly what a little shit I am. Then the game starts afresh. The B-Team is Pilate and Caiaphas to his Messiah. We are proud to serve humbly and content to be reviled for our essential historical service.
Oh, fer God's sake, Socrates, why don't yew just stick to dispensin' yer wizdom to us noobs? Why yew give a flyin' f**k what Jack be doin' or not doin'? Jack ain't worth the time to read an entire post by him, 'mano. Ah cain't believe yew wanna spend yer time tiltin' at windmills, 'mano. Cummon back to the good side of the force, dood. We need you here! Regards, Big C