theseeker--to be successful and profitable, traders need to think for themselves
@TheSeeker--to be successful and profitable, traders need to think and to work out problems for themselves as an individuals, agree?
are you quite certain that what you stated is always the fact and nothing but the fact, pls?
My problem with scalping for 5 ticks is that the reward to risk will be usually lower than 1.
just how did you arrive at that conclusion, pls?
remember, as traders we absolutely need to think for ourselves, correct?
you know, there are several on board here who would get out of a trade that lingers too long or heads to the opposite direction than what their setups predict, at 2 or 3 tics loss....? and be perfectly content with that losing trade too.
now, there are also many who setup their would be expected losing trades with similar risk control as follows:
this setup would invalidate what many have had learned in terms of risk/reward ratio.
particularly when traders are able to bail out at 2 or 3 tics loss, as their setups and strategies are being proven wrong by the volatile market; then, the r/r ratio would surely be more like 1 to 2 or better, won't you agree?
@TheSeeker, am not picking on you, ok? sincerely hope you won't feel that way, alright? your posts would help many of those learning to trade profitably and consistently to better think for themselves and do their own math for their own trading requirements and setups. thx much for your posts, theseeker, affording me an opportunity to respond--which might differ significantly from many other prolific traders here.... as well....
my apology for being long winded and babbling on and on. have a safe and wonderful weekend everyone.
Nakachalet, I respect everyone's opinions. There are many different ways to trade.
My goal in trading was to find a method that enables me to have both a high win rate and a high reward to risk ratio. I believe I have acomplished this but being curious, I always like to learn new tricks.
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That's a very encouraging post indeed and congratulations are in order. Most traders who were enjoying both a high R-R ratio AND a high win rate wouldn't be looking around for anything that might mess that up. Obviously, you are now making an incredible amount of money consistently so my advice would be to NOT CHANGE ANYTHING.
To find both consistently high R-R and high WR is like hitting the lottery and winning the Golden Goose. Unless it breaks, don't try to fix it. With all their money and unlimited resources, even the biggest banks and institutions do not have what you have. You either are, or will be, one of the richest people on planet Earth. Congratulations again to The Seeker! You might even consider changing your name to The FoundIt. I look forward to reading about you in Forbes magazine, perhaps...good job!
I just noticed that Roger Felton's membership was revoked. That's a shock. I've read Roger's posts for quite some time and never seen him be anything less than respectful. I've seen times when a bit of sarcasm snuck in but certainly not anything bad. Also, his webinars were very informative.
I've participated in his chat room several times to see what it's all about especially with all the favorable comments I've seen in this thread. Most recently, the last 2 weeks in his chat room I saw him and Clint trading (in sim) and winning. There was one day when Roger had profit when he started moderating but I believe was negative by the time Clint took over. That is the only time in the 2 weeks that either of them lost during the time they were moderating. I'm at the point of becoming a Felton Trading member and then I saw this revocation so now am a bit shocked and wondering what happened.
I know I'll never find out what happened but thought I'd post anyway.
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