let me say this about the 2% rule - if you can't pick a entry that risk less than that you have no business trading because you are gambling. risking very little on a trade < 1% demonstrates you have an understanding the market structure of the product you are trading. all beginners seems to let the market wander all over the place until it arrives where they wish it would have been when they first took the trade.
lotto's are won every week so what's this have to do with trading - or we moving to investing topic now?
Yes indeed, but lets say for example you have a strategy in which you only find 2 trading opportunities per month, have a 90% win rate and a 5R win per trade on average, risking only 2% of your account would be an extreme waste. Sorry but what? How many % you risk is determined by how many lots you trade, unless you have an underfunded account.
What on earth are you guys talking about? OP never wrote he risked more than 2% on every trade. Before you kick his balls, just read his fking questions....oh wait, it's ET. Nobody reads the actual post, just the title and then blows up on image neurosis. Just a hint: position size means how much equity goes into the position. When you buy options for 5k in your 100k account, your position size is 5%, but that doesn't mean your risk is 5%. I'm not really into defending noobs, but if you are as careful in your trading as you are in preparing your answers here...boy, I don't see a bright future for you.
I don't know, but based on books, social media, and free seminars, I am not impressed with them. Not sure if they ever made real money outside of the internet bubble era.
Agreed, but can they be a legitimate foot in the door? Probably not. Can they teach you to trade? I m doubting that based on their *free* content at least.
They used to make money and they have contact to a lot of big names in the industry. Also it's not a requirement to pay for their courses in order to trade for them. They have access to good comissions and infrastructure, so when you know how to make a profit, I don't see any problem to trade for a split with them...if you want that. It's better than this bullshit topstep or gauntlet offers were you have to pay to get in. Also, I don't see a problem with getting in touch, ask for an opinion and a few contacts. Bellafiore never asked me to buy anything and he was always generous with advice. I'm still using a lot of their free advice today, especially on getting better and finding new edge...so yes, they know what they are doing. Based on my own experience, they are worth a shot. Would I vouch for them regarding profitability? No, cause I haven't seen statements. But I'm providing first hand info considering OP's situation.
>>Position sizes range anywhere from 5% to 20% of my capital. << Maybe, you should take your own advice and read the post yourself! Yes, your risk is 5% because if your trade goes against you, you have to be prepared to lose 100% of your monies. Or that whole 5% but, he is risking as much as 20% on one trade!