Yes, why not? But what are his targets? That's the trouble with short-term trading. The shorter your trading timeframe, the lower your R:R ratios will be. This goes from tick-scalping all the way to position trading. In tick-scalping, you may have to deal with Reward:Risk ratios as low as 1:3, that means your losers are 3X larger than your winners. But your hit rate can compensate for that, if you're good (and have the commission structure). In position trading, you can have Reward:Risk ratios as high as 8:1 and higher. That is an R:R 24 times higher than the lowest, as illustrated in tick scalping example. So, you as a trader have to make a decision what style, what timeframe, what fractal you want to trade. If you want high ratios, then go and position trade. If you want to be a day trader, you must accept the low ratios and compensate. It's up to you.
LOL. You have got to be kidding. KISS? I must confess that I have not read your posts before because, after I read one of them, I thought you were out of you mind. I now see that you are out of your mind, but in a positive way. I have a question on almost every point of the last three posts but I do not want to tie up this thread. I will go back through previous posts and hopefully get a better idea of where your coming from.
Good. If he uses even larger targets, and/or has a high hit rate, then I'm sure he's very prosperous. If you want to trade like that, then do it. I am a scalper. I can't really give you advice on that, you should ask keppe. As said previously; Don't listen to other traders. Do your work and find out what's best for you. Scientist
I must admit that "Keep it simple stupid" isn't exactly the most realistic way to tag any of Jack's posts. But I think the underlying theory, once understood, is actually quite simple. It's just the effort that goes into trying to convey it that seems confusing and complicated. Listen carefully, and you may derive some invaluable tidbits of information from Jack's many posts.
Actually, I think I'm quite happy taking smaller losses, thank you. I'd rather learn how to take bigger profits. If you (or keppe) want to teach how to take bigger losses, fine. Start a new thread: "Baruch teaches how to take bigger losses." Or: "Baruch's surefire guide to maximizing losses and minimizing profits"
Yes, Douglas says this in his book too. Here is a thread with a piece on the Phantom http://www.elitetrader.com/vb/showthread.php?s=&postid=403840#post403840