The very BEST trading advice you have ever had.

Discussion in 'Trading' started by Humpy, Aug 30, 2018.

  1. Roll your sleeves up and do your own work and quit making inquiries to have things given to you like a tyke or you will be a total disappointment at exchanging.
     
    #31     Aug 31, 2018
  2. SmackSon

    SmackSon

    It’s better to have the wrong idea and good timing than the right idea and bad timing.
     
    #32     Aug 31, 2018
    ElectricSavant and vanzandt like this.
  3. Trade with the capital which you can afford to loose.
     
    #33     Aug 31, 2018
  4. themickey

    themickey

    The market behaves in a way that for the majority is least expected.
     
    #34     Aug 31, 2018
    ElectricSavant likes this.
  5. 777

    777

    "Learning from the best beats trial and error."

    -- An excellent rule of thumb. Of course deliberate practice and experimentation will be important as well.
     
    #35     Aug 31, 2018
    comagnum likes this.
  6. vanzandt

    vanzandt

    "I don't know when to buy stocks... but I know 'whether' to buy stocks".
    -Warren Buffet 8/30/18
     
    #36     Aug 31, 2018
  7. The type of trading described here!https://www.elitetrader.com/et/threads/martingale-system-in-trading.146187/page-2#post-2196097

    We trade ES futures using a 5 step hybrid martigale system hedged with options. In essence its a 54 contract trade that scales in and out averaging down costs to exit either profitably or the entire tradeset hits a safety stop.

    Future options hedge the tradesets reducing losses. Trade Long and short tradesets concurrently with a range of 25 points. Profitable exits as long as market checks up 5 points every 25 points. We stop out and take the loss when the market exceeds are programmed trading range. We have blown out many accounts trying to avoid taking the inevitable runaway loss.

    Discipline... Set hard and fast session limits. 3 strike outs and close down trading for the session. Lots of $100 - $2500 winners and each stop out is about a $10K loss. (Manageable risk)

    Overall returns are decent when ES stays inside of 50 point session swings. Inevitably we are drawn down and forced to stop out. Important: your Risk objective is not to avoid the loss but to mitigate the damages. Using future options to hedge each tradeset you can reduce your loss to 1/3.

    ie.

    Contract Add increments
    1 - Enter Long or Short at market
    Add 1 - 5 points
    Add 4 - 7.5 points from average cost (Buy options hedge)
    Add 12 - 7.5 points from average cost
    Add 36 - 7.5 points from average cost

    Safety Stop entire tradeset at 25 points from entry.
    Exit set at 1.5 points with 1 point trail stop.


    This is a very fast game that should be autotraded... Lots of trades, calculations and transactions. Avoid temptation to interfere based on chart indicators.
     
    #37     Aug 31, 2018
  8. SunTrader

    SunTrader

    Duh that's not trading advice.
     
    #38     Sep 1, 2018
  9. rvince99

    rvince99

    Don't pursue comfort.
     
    #39     Sep 1, 2018
  10. "Trade Small to Win Big"
     
    #40     Sep 1, 2018