CityTrader
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Grey1- maybe that makes me more of a gambler than a trader! ( funnily enough I win most times at the weekly poker game I play in) but if I only committed 1 % ( or even 2%) to each trade- I would have to trade far more frequently than I do ( aprox 5 round trips per week) and that would also increase my likelihood of more losing trades. I don't restrict my trades to 5 round trips per week because of any sort of system- I just don't see more opportunities than that . Sure, in reality some weeks I'll trade a lot more, and others not at all- but that's my average.
Like I said, my methods probably wouldn't suit many others, but having traded professionally for 25 years- it's the only way I know how..
NEWBIE HEALTH WARNING: DON'T TRY AND COPY MY METHODS - IT WOULD PROBABLY END IN TEARS FOR YOU!
Like I said, my methods probably wouldn't suit many others, but having traded professionally for 25 years- it's the only way I know how..
NEWBIE HEALTH WARNING: DON'T TRY AND COPY MY METHODS - IT WOULD PROBABLY END IN TEARS FOR YOU!
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Grey1
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Quote "
Like I said, my methods probably wouldn't suit many others, but having traded professionally for 25 years- it's the only way I know how.. "
Please keep using your own method..My interests are mathematical and mechanical trading and the 2% rule is part of it as I explained.
Regards
Like I said, my methods probably wouldn't suit many others, but having traded professionally for 25 years- it's the only way I know how.. "
Please keep using your own method..My interests are mathematical and mechanical trading and the 2% rule is part of it as I explained.
Regards
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adrianallen99
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My initial strategy was basically to try and increase my capital quickly. I started with just £60 and invested in AIM stocks for 1 day to 1 week.
I risked 90-100% of capital every trade and had made over 500% gain in 2 months. Now I risk about 20-25%. If I ever manage to get to £1000 I will reduce my risk down to about 10%.
I risked 90-100% of capital every trade and had made over 500% gain in 2 months. Now I risk about 20-25%. If I ever manage to get to £1000 I will reduce my risk down to about 10%.
Money management has got to be put in the right context/proportion of your trading plan, by this i mean if you stick to a flat approach 1-2% where is the effeciency or value for money? Since March 03 any body shorting the markets for any length of time would have been going against the grain, as to speak. If you are following charts, signals, indicators or any other form of TA and have formed a confident insight into these then surley there are opportunities when you can quite confidently increase trade values.
Grey1
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Balloonist and the Trader
Not sure if this is the right forum to have this post...
A Balloonist was flying in a Hot Air Balloon and realised he was lost. He reduced altitude and spotted a Man On The Ground below. Lowering the Balloon yet further, he shouted:
"Excuse me, can you tell me where I am?"
The Man On The Ground explained, "You are in a Hot Air Balloon, hovering 10 metres above this field."
"I can discern that you are a Risk Manager," bid the Balloonist.
"Indeed I am..." replied the Man On The Ground. "How did you know?"
"Well," offered the Balloonist, "everything you have told me is Technically Correct, but it's of absolutely no use to anyone."
The Man On The Ground postulated, "And you must must be a Trader."
"And indeed I am..." confirmed the Balloonist, "but how did you know?"
"Well," deduced the Man On The Ground, "you don't know where you are, or where you're going, but you expect me to be able to help. You're in the same position you were before we met, but now it's My Fault."
Not sure if this is the right forum to have this post...
A Balloonist was flying in a Hot Air Balloon and realised he was lost. He reduced altitude and spotted a Man On The Ground below. Lowering the Balloon yet further, he shouted:
"Excuse me, can you tell me where I am?"
The Man On The Ground explained, "You are in a Hot Air Balloon, hovering 10 metres above this field."
"I can discern that you are a Risk Manager," bid the Balloonist.
"Indeed I am..." replied the Man On The Ground. "How did you know?"
"Well," offered the Balloonist, "everything you have told me is Technically Correct, but it's of absolutely no use to anyone."
The Man On The Ground postulated, "And you must must be a Trader."
"And indeed I am..." confirmed the Balloonist, "but how did you know?"
"Well," deduced the Man On The Ground, "you don't know where you are, or where you're going, but you expect me to be able to help. You're in the same position you were before we met, but now it's My Fault."
china white
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lads - rgrding that pessimist/optimist thing:
i recall a ruskie joke saying that an optimist is someone studying english, a pessimist is some1 studying chinese and a 'realist' is someone studying AK-47 assault rifle. quite applicable to trading innit? 🙂
i recall a ruskie joke saying that an optimist is someone studying english, a pessimist is some1 studying chinese and a 'realist' is someone studying AK-47 assault rifle. quite applicable to trading innit? 🙂
