*a quick aside.....could someone jump in (or PM me) and let me know how to insert the name of the poster of a quote?* Thanks!
I start with the a basic 3% of account and divide that into 1/8. I enter with the first 1/8 and keep the other 7 to "feed in" to the trade. Whether it's against me or going in my favor. Bob's 'recovery document' can explain the particulars. How/when the other lots get entered is rarely ever the same. It's subjective based on my interpretation of things like strength of move, nearest s/r, fibs (including extensions), etc.....
As far as whatever this strategy has going against it, I think we're at the point where we'll agree to disagree forever. No?
If you'll promise to pay attention this time I'll answer this. Again! It works for me.
To me, something that works is "more" productive than something that doesn't. To all you successful SL traders out there, I applaud you! Bravo! Good on you! And you'll notice I haven't tried to bash your way of trading nor have I tried to "convert" anyone to my way. I'm simply trying to explain that there is another way that people are having success with. So when this OP or someone else comes along who may be taking the worst of it, they deserve something more than The Bitches chiming in with dismissive gems such as "that's dumb", "that will never work....no, no, I've never tried it but I'm certain so-and-so is lying to you that he's making it work" Really?! That's why we're all here at FF?
Let's say you were asked to comment on a sandwich at a local deli that serves up 20 different sandwiches and you've tried, say, 7 of them. Five of which you didn't care for. But you haven't tried the one you're being asked about. Someone raises their hand and tells the asker that they have had the sandwich and thought it was very good. The Runts start chiming in saying that it couldn't possibly be good because 5 of their other sandwiches were not good, and until we get proof of a lab taste analysis from the guy who told you it was good, we simply refuse to believe it to be true. Oh, and then you would be so tickled at your response, you would add a bunch of these
QuoteDislikedNow we're getting to the crux of the matter.....how do you quantify it then?
I start with the a basic 3% of account and divide that into 1/8. I enter with the first 1/8 and keep the other 7 to "feed in" to the trade. Whether it's against me or going in my favor. Bob's 'recovery document' can explain the particulars. How/when the other lots get entered is rarely ever the same. It's subjective based on my interpretation of things like strength of move, nearest s/r, fibs (including extensions), etc.....
QuoteDislikedbut why purposely choose a strategy which has the odds of longevity against it
As far as whatever this strategy has going against it, I think we're at the point where we'll agree to disagree forever. No?
QuoteDislikedand is less productive
If you'll promise to pay attention this time I'll answer this. Again! It works for me.
To me, something that works is "more" productive than something that doesn't. To all you successful SL traders out there, I applaud you! Bravo! Good on you! And you'll notice I haven't tried to bash your way of trading nor have I tried to "convert" anyone to my way. I'm simply trying to explain that there is another way that people are having success with. So when this OP or someone else comes along who may be taking the worst of it, they deserve something more than The Bitches chiming in with dismissive gems such as "that's dumb", "that will never work....no, no, I've never tried it but I'm certain so-and-so is lying to you that he's making it work" Really?! That's why we're all here at FF?
Let's say you were asked to comment on a sandwich at a local deli that serves up 20 different sandwiches and you've tried, say, 7 of them. Five of which you didn't care for. But you haven't tried the one you're being asked about. Someone raises their hand and tells the asker that they have had the sandwich and thought it was very good. The Runts start chiming in saying that it couldn't possibly be good because 5 of their other sandwiches were not good, and until we get proof of a lab taste analysis from the guy who told you it was good, we simply refuse to believe it to be true. Oh, and then you would be so tickled at your response, you would add a bunch of these