No, of course not, Gabby, I just have a system that tells me when to nibble, and when to back up the truck. Backing up the truck, as in the PTJ video is sometimes not the best outcome. So I might get 50% today, and lose 40% up the road. The idea is to net positive when the year is over. U act as if this is some strange thing. I know options players who have had 500% days. As far as how I get my numbers, in my country they teach us percentages in middle school( grades 5-8), not sure how they do it in Canada.
Ok. A max loss is what you risk if everything goes exactly wrong, this rarely happens to a good trader. Gann uses a time gradient as well, so price should move a certain distance in a certain amount of time, if it does not, you are probably wrong. Often you can get out with a small gain. Another Gann marker is if you have big volume, and price does not move accordingly, you just bought or sold a pivot, you should get outta there. Again, not that hard, Gabby.
Did not mean it to say you were insulting the man. My only regret is that this video is not required watching for all aspiring traders. If they are smart enuf, they will get an enormous amount of stuff out of this video.
Nice!! Yes, that book has a prime spot on my shelf. Right next to my other prime influencers: Techgnosis, Education of a Speculator, the 500 Year Delta, and the Fourth Turning. enjoy, surf
I wasn't insulting you. I just wanted to know if we were talking about ther same thing. Because if you are talking about daily 30% returns on your starting capital that day, and if you are saying you are doing this with some regularity since you previously noted it is not at all uncommon for you, then my only question is when you plan to take over the world.
It is exccedingly difficult to make any money trading without taking large, although controlled, risk. If you wanna just play, maybe the active market isnt for you. Mutual funds maybe?
Nooo, that would be silly Gabby. No one makes 30% a day. I made 50% yesterday, but I might get a back up the truck signal, and the market decides to give me an engulfing candle on the next bar sometime next week, so, now I have eaten 40%. Up 10% in two weeks, that is often how it works for me.
To accept that kind of volatility means one of two things. Either you are a man of steel, or you are trading a very, very small account. I may be wrong, and your dollar numbers are none of my business, but I think it is either the one or the other. To characteristically gain 50% one day and lose 40% the next, or thereabouts, on a meaningful amount of money is absolutely insane.