I stressed "individual position." 100% of an individual position. 3.5% of the aggregate. There is plenty of aggregate.
dude you gotta learn from the master. looking at +/- of bread crumbs all day, meaning less. peak to trough it's like 750 virgins for my portfolio... and you are pissing in the pants looking at 7% on your peanuts? think BIG, play BIG! warren and Charlie, in their own words, have seen their portfolio cut in half, at least twice. if you don't have a big game mindset, you will be forever grind for bread crumbs.
Great post. I been doing this for 4 years unsuccessfully. After some proper training and reading. I am now realizing that if I have an account balance of $20,000, just keep it simple and only risk 2% of account balance of per trade. That is $400 per trade to start off risking. Then trade as usual. However many shares of stock or future contracts I can get with $400, that is what I trade. Now go focus on getting a damn edge. Survive and Live to trade for a lifetime. Get the simple stuff right first. I would love to here some feedback/debate/challenges on my statement I made.
padutrader, I know you are a professional trader. Are you seriously risking 100% of your account balance per trade you take in Forex? For example, if your account balance is $20,000, at 100% risk tolerance, you actually risk $20,000 on ALL your trades today? Please respond.
to my it's no longer per trade anymore... I rotate in and out of positions. if I don't like something I cut it.... setting a fixed % or $ only gives a newbie trader some help, but not much... you can back test on hard stops, no matter how you cut it it does NOT add any alpha. what really makes money, again, is your analysis ability - aka read other people's card better than they read yours.
you cannot make serious money without market knowledge. i have heard that market is random,that it is without sense....etc that sounds ridiculous to me. you have smart people buying and selling !!!!!!