Do that but over time you should also try and develop a system
that fits your personal risk tolerance and goals. That takes time
and experimentation and you can pick and choose things you see from
us and others
As far as the systems - one big advantage they have other most
average traders is their set discipline and the way they enter
trades. The way the enter positions, SPY for 1st entry, SSO for
2nd, UPRO for 3rd, and other systems can offset others - it's sort
of like how a professional gambler who actually makes money at the
casino varies and changes his bets in order to maximize his profits
and recover from losers.
too many people (most) just buy or short positions will nilly,
with no methodology for managing position sizes, varying them, and
money management. It's like: I'll buy 100 TSLA, here, I'll short 50
MSFT there - it's shoot from the hip stuff.
money management and how you position your sizes and vary them
is just as important as picking good trades from the
charts.
this why even average systems will tend to do better than a
trader who is outstanding at charts but is emotional and doesn't
have a strategy for his position sizes - systems with their set
methodical rules makes a big difference
That couldn't have been said better, Matt! I learned that after
making mistakes early on and it's been the number one most valuable
thing for my trading. Position sizing and knowing the goal for the
trade prior to entering it. (including where you will exit if it
goes against you).
On the systems, I'm holding half my short position and just sold
the other half at the bottom of this short term wedge that was
pointed out on the blog...happy camper!
Do that but over time
Matt - Does the go-long bell ring when the 15-min ...
Posted by matt on 15th of Sep 2022 at 03:32 pm
Do that but over time you should also try and develop a system that fits your personal risk tolerance and goals. That takes time and experimentation and you can pick and choose things you see from us and others
As far as the systems - one big advantage they have other most average traders is their set discipline and the way they enter trades. The way the enter positions, SPY for 1st entry, SSO for 2nd, UPRO for 3rd, and other systems can offset others - it's sort of like how a professional gambler who actually makes money at the casino varies and changes his bets in order to maximize his profits and recover from losers.
too many people (most) just buy or short positions will nilly, with no methodology for managing position sizes, varying them, and money management. It's like: I'll buy 100 TSLA, here, I'll short 50 MSFT there - it's shoot from the hip stuff.
money management and how you position your sizes and vary them is just as important as picking good trades from the charts.
this why even average systems will tend to do better than a trader who is outstanding at charts but is emotional and doesn't have a strategy for his position sizes - systems with their set methodical rules makes a big difference
That couldn't have been said
Posted by cozz101 on 15th of Sep 2022 at 03:42 pm
That couldn't have been said better, Matt! I learned that after making mistakes early on and it's been the number one most valuable thing for my trading. Position sizing and knowing the goal for the trade prior to entering it. (including where you will exit if it goes against you).
On the systems, I'm holding half my short position and just sold the other half at the bottom of this short term wedge that was pointed out on the blog...happy camper!
That’s me - would love
Posted by anjali25 on 15th of Sep 2022 at 03:40 pm
That’s me - would love some advice on position sizing and how to do it without being “Willy hilly”