Oh great. Thank you. Another productive member of society... Newbs collecting welfare so they can learn to trade....
You can hit the vast majority of directional calls (out of 100), but don't have a measly 10K to fund your account...? Ever heard of a credit card? Parents? Friends? Your piggy bank from mowing lawns last summer? "well heeled sharks" This is priceless. Keep it up, Lucias.
Train? Like Rocky? <iframe width="560" height="315" src="http://www.youtube.com/embed/MBRKIsiTfT8" frameborder="0" allowfullscreen></iframe>
The world is wondering ,why if he is making so much from trading , he is hanging out his willy on c2 to give to noobs?Must be charitable crumbs for noobs.
^Truth be told, his strategy consists of 2 point targets and 12 POINT STOPS. The win rate is okay (at best) and only works with heavy size...Sure, there's some down months, but one guy off C2 made 10K? (we're not sure), before blowing out his account and jumping off a bridge. The algo draws on key "order flow insights" Lucias "explores" in his newsletters. Yes, actual subscribers who pay this guy for market advice...
Some people psychologically are unable to trade real money, they simple can't handle the uncertainty and stress. Sometimes they become OK signal providers, because their analytical abilities are fine. But most systems are like you said, something similar to 2 point target, 12 point stop... Not ideal trading system in my view.
Ideal....you're being kind The 7:1 risk:reward strategies are a total newb approach. It's the hail mary of system design: (I have no idea what direction the market is headed but i want to trade with the big boys so I'll flip a coin, leave a damn wide stop and call it trading!).
Yes, personally I don't even enter when likely reward is smaller than the risk. See no real reason to take big risk for a small reward, maybe if only really bad timing and poor entries are the case.
Sure, it happens the odd time. Market order, bad fill, fast market etc. Usually if price jumps too far away from a logical stop and reverse point, it's a bad trade. If it's volatile, well, that's another story.
I would agree with your final point, which seems to be somewhat inconsistent with your narrative preceding it. And I would go one step further, in my own case, and suggest that the nature of immediately price action itself generally trumps any "levels."