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Search: Posts Made By: jstnbrg
Forum: Psychology and Money Management January 13th, 2011, 03:23 PM
Replies: 39
Views: 11,035
Posted By jstnbrg
Yup. Plus, don't let your head get too big, and...

Yup. Plus, don't let your head get too big, and if your edge stops working, stop trading live until it does start working again. Also, for God's sake, if you screw something up and give back a...
Forum: Psychology and Money Management January 12th, 2011, 02:39 PM
Replies: 39
Views: 11,035
Posted By jstnbrg
I'm not really familiar with the liquidity of the...

I'm not really familiar with the liquidity of the big stock contracts. If they are reasonably liquid, I would trade them if your account size warrants it because of lower fees. If this interferes...
Forum: Psychology and Money Management January 10th, 2011, 01:00 AM
Replies: 39
Views: 11,035
Posted By jstnbrg
Of course not. But there's an element of...

Of course not. But there's an element of unpredictability in markets that doesn't exist in, say, Blackjack. The President getting shot doesn't affect the odds in the latter. Flash crashes don't...
Forum: Psychology and Money Management January 10th, 2011, 12:43 AM
Replies: 39
Views: 11,035
Posted By jstnbrg
I traded in Advantage's office in Chicago for...

I traded in Advantage's office in Chicago for awhile but I was tired of commuting. I also traded in an arcade in their office in Downers Grove but found there were too many distractions (like the...
Forum: Psychology and Money Management January 10th, 2011, 12:26 AM
Replies: 39
Views: 11,035
Posted By jstnbrg
I'm with you on that. As a pit trader I did as...

I'm with you on that. As a pit trader I did as many as 1000 at a crack (8 times in my career, but I put on 500 consistently for years). Screen trading is different, and until I know I can make...
Forum: Psychology and Money Management January 2nd, 2011, 10:06 PM
Replies: 39
Views: 11,035
Posted By jstnbrg
To kind of sum up the last few posts here: ...

To kind of sum up the last few posts here:

1) a mathematical model for risk that optimizes expected growth may cause psychologically destabilizing losses

2) the edge we think we have may be...
Forum: Psychology and Money Management January 2nd, 2011, 08:26 PM
Replies: 39
Views: 11,035
Posted By jstnbrg
I'm a little lost here. Am I being criticized...

I'm a little lost here. Am I being criticized for using the phrase "Black Swan or for invoking the concept or both?
Forum: Psychology and Money Management January 2nd, 2011, 01:36 PM
Replies: 39
Views: 11,035
Posted By jstnbrg
I agree, plus trading results are backward...

I agree, plus trading results are backward looking only. You can't get too married to your simulation results or your live record. Fat Tails' screen name says it all. I wasn't trading during the...
Forum: Psychology and Money Management January 2nd, 2011, 11:48 AM
Replies: 39
Views: 11,035
Posted By jstnbrg
Fat Tails, thanks, this is exactly the type of...

Fat Tails, thanks, this is exactly the type of response I was hoping for, short of a formula I could plug in to Excel. And I didn't expect to get that. Thank you very much for the clear...
Forum: Psychology and Money Management December 30th, 2010, 04:32 PM
Replies: 39
Views: 11,035
Posted By jstnbrg
I've been in your camp since 1988. But this is...

I've been in your camp since 1988. But this is new ground for me, so I'm interested in what others have to say.
Forum: Psychology and Money Management December 30th, 2010, 04:25 PM
Replies: 39
Views: 11,035
Posted By jstnbrg
What, 5% per day is unrealistic?!! Damn, there...

What, 5% per day is unrealistic?!! Damn, there go all my hopes and dreams!

Concerning boredom trades, I'm with you 100%. My problem has not been so much making boredom trades as missing good...
Forum: Psychology and Money Management December 30th, 2010, 02:42 PM
Replies: 39
Views: 11,035
Posted By jstnbrg
Which raises another question I've been...

Which raises another question I've been pondering. Suppose you have a portfolio of trades on and the net value of the open positions gives you a much better than average p/l for the day, even though...
Forum: Psychology and Money Management December 30th, 2010, 02:31 PM
Replies: 39
Views: 11,035
Posted By jstnbrg
Here's why I posed the question. The...

Here's why I posed the question.

The cornerstones of my approach to trading have always been edge, managing my own psychology, money management, and having a plan for growth. It is the last of...
Forum: Psychology and Money Management December 29th, 2010, 12:00 PM
Replies: 39
Views: 11,035
Posted By jstnbrg
Account size when trading multiple instruments

The 2% rule is frequently mentioned on this forum, namely that you should not risk more than 2% of your account on a single trade. This implies a minimum account size of 50 times what you will risk...
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