The "Aha" Moment!

I've never taken a day trade with a 100 point stop.

 

Anyone except me.

 

Bernard Baruch — 'I made my money by selling too soon.'

 

what I am talking about is entry points. It's very easy to come up with good entries. Most traders skip risk mgmt though that involves not only cutting losses short but letting winners run.

 

That approach in general is doomed to failure.

 

I

if you're such an expert then lets hear your approach besides risk management

 

That's complete nonsense. If that would true nobody would ever average down, and there are a lot of people who are averaging down.
There are also a lot of people who never have 50% of winning trades, I think even the majority never has 50% of winning trades. If you have a good entry you always make money, if you lose money it means the entry was bad.

 

It doesn't work that way. Before you can use Risk Management, you need to have a functional profitable system. Risk Management is not going to make you rich. But you are right that it can slow the losses.

You develop a trading system first, then apply risk management later.
It doesn't work the other way.

 

FALSE

 

AMEN to that...