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Strategies & Market Trends : Classic TA Workplace
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To: bcrafty who wrote (77628)7/20/2003 8:36:07 AM
From: skinowski  Read Replies (1) of 209892
 
Let's imagines a trader who identifies 50 charts he likes as longs and another 50 he prefers as shorts. Having entered the 100 trades, he will protect each one with - let's say, a 4% stop. As soon as any position moves 4% in his favor, he will move the stop to breakeven. From there on, he will manage the remaining open trades in his customary fashion.

I submit that most likely among the "survivors" there will turn out to be some "trenders" - which will more then make up for the early losses.

The entries in this hypothetical situation were not random, but in fact it would be interesting to compare random vs. nonrandom entries. Wouldn't it be funny if the difference would turn out to be not very significant! -g.

In reality, we do not enter 100 positions in a single day, but over time, with various modifications, what we do on the daily basis is not all that different. I think that the point that High Country Trader is making is that in the end trading is a game where we strive to maintain an edge in our favor, and that managing trades might make a larger difference then entries. I think this is true in my case. My entries have been decent often enough, but I do tend to grab the money and run - instead of "averaging up" and giving them a chance.
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