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Strategies & Market Trends : Classic TA Workplace

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To: bcrafty who wrote (76712)	6/26/2003 5:31:56 PM
From: John Madarasz	Read Replies (1) of 209892

If you haven't already, you should take the time to read A. Elders book "trading for a Living" about risk management and stop losses. He actually advocates a total portfolio loss allowance of 2% including slippage. Because of the volatility in this mkt i usually try to allow only a 4-5% loss max, and use smaller positions so there is more wiggle room if a trade goes against me. doesn't matter if it's one issue...or 10. If at any time during the day your total portfolio value is down more than 2%, Elder says you should be adjusting and raising cash. I'm out much more than in this mkt...and alot of my trading is dictated by my schedule with my other work, so the answer is very subjective.I'm fully short here now, ....but it's irrelevant as cash levels are constantly changing with postions. The situation dictates always. I think you are looking for specific answers to very subjective issues. I don't believe in all the so called "mkt calls" people seem to put so much importance on...nothing is verifiable so i really couldn't care less about all that nonsense...sometimes i'll get sucked into it for the goofy fun...but who really goes by that stuff...really? People are in and out of this mkt all day every day, changing and re-adjusting positions ad infinitum. I'm just looking for info to gather, and share, that will fit into my own little personal and private strategy. Give a little get a little as it were. If someone else can use it and put it in their plan...great... the mkt was up nicely today, the trend is still up by most technical measures, i'm fully short and my net trading portfolio value is up for the day...go figure??<g> it don't mean a thing tho...Bears are still doomed ;~)

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