Masterm1ne, entries <b>and</b> exits are as essential for success in trading as the strategy you should be basing your decisions on. Thinking that risk management will save you from death by ten thousand paper cuts is not the right way to approach trading. You can't expect poor entry points to work themselves out simply because you developed a marginally profitable risk management strategy. Risk management has more to do with size and leverage, than it does in determining stops. Stops are part of the strategy, not your risk management discipline. The use of robust indicators is not necessary if you can creatively devise non-extremum indicators that have no absolute high or low points. If you can do that your strategies will automatically become more robust because they will consider the entries in light of the exits and not treat any entry as a reason to apply risk management techniques.
Open trades: Corn, NG, JPY, Cotton, Coffee and Lumber (all long). No margin left for holding trades longer than 1 day. Risk is 2-8% per trade (too much). @ $22k (-8%)
It doesn't have to be this way. Whatever your rationale for Cotton and Coffee you have no edge, so holding it is no different than buy and hold hoping.
it's not your fault, nobody could predict a pipeline fire in Saudi Arabia that drove up oil price. don't listen to bowlinsky, the fire is an accident, not in the chart. If bowlinsky claims he can see the fire in his trading chart, he is doing Jamaican voodoo.
I think I may have stumbled onto the part of ET where traders come to die. And this guy is a freakin zombie! And I thought my $100 loss on SODA was not so good... Masterm1ne, dude, you're flipping coins. good luck, cuz soon, you'll end up losing even the thumb you're the flipping the coins with...
Our statistical arbitrage model went long QM today. Buy Entry 11:45 107.50, STC 108.675. If your model works well, it will catch moves like this in the open market without having to read the news.