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If that is the case then you have not accepted the risk.
You can not win every trade. Your position size should define the risk you are willing to take.
"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
Well like my decision to not start a journal here I have also decided to cancel this thread as well as any future participation or membership here.
I was hoping for a little more involvement from what I was to understand to be an experienced group of traders here, apparently I misunderstood.
QUOTE goiter33 i am not sure if position sizing strategies that worth taking can be found in such books....
goitter, I believe you could probably benefit the most.
QUOTE Deaddog....If one tick makes a significant difference you are probably under capitalized for the market you are trading.
Did I say anything about capitalization?
QUOTE BigMike.... I believe the point is if one pip causes mental distress, you are way, way, WAY over leveraged.
Did I say anything about mental distress?
Apparently you both missed the point.......
First it is trading FX at Oanda and the ability to trade fractional position size like that lets you fine tune your compounded fractional risk management and profits to the pip. You can not do that with futures, you have to use a somewhat more crude form of compounding to achieve an improved smoother equity curve.
Anyway, best of trading to you all...... And as deaddog's signature states..... "When I'm wrong, I'm gone..... So I'm not wrong long.
I'll take part of the responsibility for the escalation. When I see someone post a message that basically says they don't want to be here, then I just assume ban them and move on instead of have them linger and create drama. In this case it's simply a "nip in the bud".
I can understand that one tick, in the instance of a scalper who trades very large size, might give them as much of an emotional response as the same proportion of loss equidistant from their stop a day trader or swing trader might encounter if a trade goes against them. But even saying that, every trade should be traded in a size proportionate to the account that it doesn't make one uneasy. Maybe there was just a misunderstanding here, who knows, but letting it get to someone's head violates the rule of giving other people too much thought.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
On our orchard my brother and I were running a few years ago. We had some hippys that were working for us picking cherries that weren't very inspired. So my brother asked me to give them a peptalk. I go and listen to them (they are suffering the effects of last nights hangover) and listen to them talk about how they want to change the world by inventing a perpetual motion machine.
I basically told them they should never give up on following their dreams. Anyways they seemed much more cheerful so I left to check on other stuff.
That evening I found out from my brother they came to him right after I talked to them and asked for their check. When He asked why they told him that I had fired them to go follow their dreams!
After that our standard response to all pickers was - if you dont want to be here we dont want you here either!
