this statement shows some sense.it shows that you know you are risking too much. rather than risking more i think you should risk less.go to a slow but steady gains approach.after all now that you have a nice stake to trade with it would be a shame to lose it on just a few all or nothing trades.
JonnyT, Thanks for the honest post! Shows a lot of humiltiy on your part to take a step back and see "the big picture". Most traders if they had your type of success (ie 500% return) would have just kept gun slinging. IMO, any trader risking over 3-4% of their overall equity is trying to slap box with the "trading gods" and will soon enough find out their arms are too short "Even a broken clock is right twice a day" ~Taleb~ When I size positions it is always with one concern on the forefront RISK. I want to take as much out of the market I can, while still maintaining an overall exposure/vulnerabiltiy level that insures I can always come back to play another day. I have to go now Jonny the game is on!!! But two book recs for you; Fooled By Randomness and Trade Your Way to Financial Freedom PEACE and goodtrading, Commisso
Whoever wrote that he can turn 5000 into 1,000,000 in 80 days has yet to tell you his real method. He will cross out the 5, put a 1 in its place, and add 3 zeroes to the end. Put a $ sign in front and voila! Imagine the dummy that guy is. It takes him 80 days to do this!
JonnyT, I have a marvelous suggestion... How about you ask that guy trying to scalp with 300 contracts about "5k to 1000k" thingie and relay the answer to us?
I have asked the guy and he has given Van Tharps book as a short reply. Being the lazy guy I am I was looking for a summary rather than learning the important stuff for myself properly.