LOL again, Poet. You are a riot. I didn't say I did fifty trades a day. I said fifty a MONTH got you your quotes free. Actually, I think I have done about forty five trades in one day as my high. If I do twenty in a day, I'd consider that normal, but there are also lots of days when I do zero trades. I may not like the way the markets look, or the volume is too slow, or maybe I don't feel good.
Some of the best traders I have seen on the mIRC channels wouldn't hesitate to do fifty or a hundred trades a day if the action was there. These people make lots of money, too. If you stop out fast on losers and let at least some of your winners run a little, you are going to make money. My initial target on every trade is to score for a sixteenth. If it runs for more, great. If I stop out for minus a sixteenth or an eighth, that's part of the game.
And part of my theory is that as I gain experience and build my system, I'll get better and better entry points, which raises my percentages. Also, experience is teaching me to have the nerve to buy the lows instead of waiting for a trade to start looking good by running a bit. This has been the lesson of our tough markets the past few months. If you buy off solid support, your stop out is going to be pretty safe and you've got a shot at a decent bounce. That's really all the theory I need.
Are you still hangin in mtrader?
Rick |
