I agree with you 100% about the trading experience part. I have not any. Your input is duly noted and appreciated. Thanx!
np saxon. mebbe i was a little harsh but getting a harsh response in ET is better than looking at your PL and see you are down 10k for the day.
Jack, I am honored to have you post in this thread. Thank you for your informative post and your lengthy response. To tell you the truth, you are one of the very few individuals whose posts I have to read at least three times in order to fully comprehend. This remainds me of my graduate studies where I had to digest work written by those german philosophers. Because of that, to this day I harbor profound distaste for German grammar. I must admit, there are parts of your post that are still one big enigma to me, but the excerpts that I was able to mentally dissect were both informative and very helpful. Thanks once again for your post and the time you had to devote to put your ideas on paper.
This is exactly what I was trying to convey, namely that if i can catch a market in a state of extreme break out. Getting that 1 point with huge amount of contract (100) should be less risky than hustling 10 contracts all day long trying to make the same amount as with that 1 point with 100 lots. However, as you so succinctly stated, market has to be in that zero risk zone in order for it to work.
You are 100% right. I'd rather be dragged through the mud than see my P/L in negative territory. I have tasted a 20K loss once in my life and it shook me up in more ways than one. (no it was not trading or gambling).
I had numerous 250K-500K loss days in the past. Its not a good feeling. But am still significantly ahead over the years.