Hello NoahA, Lets get it ready to kick so ES or MES ass tomorrow and have some fun and make some money man.
Wonder how China will react to all this crazy when they finally re-open. Anyone notice they have been closed since Thursday, for "National Day"? They re-open on Tuesday night I believe. Those Chinese, with their silly week-long celebrations of a day.
I could be misunderstanding what you are saying. Stopping trading for the day has no bearing on his sample size as long as he continues to take his setups no matter what. There isnt anything saying you have to take x amount of trades a day. But there is a rule that you are obligated to take all your setup trades regardless of how you feel - when you are actually in front of a screen trading. That is how a sample size and probabilistic edge works. If I have a weighted coin on heads and I flip it a random amount of times per day that doesnt change the outcome after 100 flips. Whether i flip is 3 times today. 50 times tomorrow - it doesnt matter. However, going from $150 loss down to a $50 loss is not messing with a system that isnt broken. ITs reducing position size As long as he is following his system flawlessly (which is the goal here) reducing position size has nothing to do with his probabilistic edge on which way the market could move.
NoahA, If I lose 3 trades in a roll, I am stop trading for the day. I don't not care about what my previous historical record shows. I care about protecting my capital or mental and having a good day and night and good night sleep. I will never continue trading after losing 3 in a roll. However, I may continue to trade and just reduce position size. For example, reduce to risk per trade from 3% to 1%. That sounds more logical and practical then just stop trading for the day. I am not afraid to lose $150 on a trade. I am risking 3% of my capital.