As an average about 4 times in 20 trading days I hit drop dead.
and u've 'walked away' each time?
My three trading rules
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and u've 'walked away' each time?
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TH,
How did you arrive at the 0.5% figure? Did you just pick a number that you felt comfortable with or did you try trading with various stop levels and found 0.5% to work best for you?
You say that you get shut down for the day about 4 out of 20 days. So that's 20% of your year that you don't get to trade. I know that you will say "That 20% of the year is where my biggest losses would be, why not cut them out?" But maybe if you increased your stop level to 0.75% you'd find that x% of the time you make a comeback and finish with a profit for the day. Then you need to ask, are the extra profits I gained from a larger stop greater than the extra losses on the days I lose? Obviously 0.5% works for you, just wondering how you decided on it.
How did you arrive at the 0.5% figure? Did you just pick a number that you felt comfortable with or did you try trading with various stop levels and found 0.5% to work best for you?
You say that you get shut down for the day about 4 out of 20 days. So that's 20% of your year that you don't get to trade. I know that you will say "That 20% of the year is where my biggest losses would be, why not cut them out?" But maybe if you increased your stop level to 0.75% you'd find that x% of the time you make a comeback and finish with a profit for the day. Then you need to ask, are the extra profits I gained from a larger stop greater than the extra losses on the days I lose? Obviously 0.5% works for you, just wondering how you decided on it.
Trembling Hand
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Mostly. It is very hard to do. And of course I give myself a couple of extra ticks to play with from time to time but its still around the 0.5% mark maybe 0.55%
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not all on one race i hope TB
ive often thrown 100% of my coin on trades...
on the punt the 2 times in my career i backed 8 winners in a row i just took out my stake & started with 50% of the profit then kept going...
go check out my race tip thread,followed bart cummings for over 35 years & yes i did back viewed at 50/1 pre post,youll see i tipped him in the brissie cup at 4/1...started backing him after the cup,bart cummings...THE ONLY TRAINERS HORSES I IGNORE THE PRICE as i know hes a genuis...(won over $1m on lets elope in 1991/92)
cartman its all in the discipline but you also gotta have the ticker/balls to pull of that biggie...cheers
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Trembling Hand
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LW its based very loosely on what the median up day is X 0.33
Mostly. It is very hard to do. And of course I give myself a couple of extra ticks to play with from time to time but its still around the 0.5% mark maybe 0.55%
that answer just proves yr honesty TH ----- u know u r good at what u do --- so even when u hit yr mark --- u give yrself the benefit of the doubt for a little breathing space ----- its a difficult thing 4 humans to 'walk away' at an arbitrary 'point' in space ---- kinda like doing 68km in the 60km zone ---- if u do 71km and get pinged u've just gotta wear it ----
my biggest downfall, and im guessing many punters ---- is that i hang on to 'the dream' (losses) much longer than i should, even when i know i should be out -----
its a fine line between being smart and dumb --- U've obviously found that line and keep on the right side of it ---- takes discipline --
i understand exactly where yr coming from TB ---- and i think what u did and what TH does is very similar in a lot of ways (others may disagree) ---
ballz are definitely required for this type of punting --- but from my humble experience the better u get, the bigger yr ballz get too -- lol ---
---- mine are still to reach puberty ---lol ----
tech/a
No Ordinary Duck
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Forget Kahunas they're too close to your A*rse.
The only thing he is using is his noggin.
The 3 trading rules have zero to do with nuts.
Its only those who dont understand who think it takes balls.
The only thing he is using is his noggin.
The 3 trading rules have zero to do with nuts.
Its only those who dont understand who think it takes balls.
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To throw on big size and risk your open profits, takes nuts (others may call it discipline). Period.
tech/a
No Ordinary Duck
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Oh----2 explaination marks
Others again would call it sound business practice,Semi colon.
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And no high risk:high reward plays take nuts in business, you should understand entrepreneur. Full stop.
tech/a
No Ordinary Duck
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Who mentioned high risk--??
If thats what your doing then your brains are down there with your Kahunas.
If thats what your doing then your brains are down there with your Kahunas.
LOL ---- hope u r happy with everyone discussing the size of yr nuts TH :arsch::22_yikes:
u may enlighten us all --- does it require nuts ---- or is it totally stress less?
Trembling Hand
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What if I am :girl:
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Putting down 5mil on futures involves low risk?
Sometimes you just take a flogging, that is the risk you take if you want to swing size in this game, and that takes nuts.
tech/a
No Ordinary Duck
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Putting down 5mil on futures involves low risk?
Sometimes you just take a flogging, that is the risk you take if you want to swing size in this game, and that takes nuts.
There may well be traders out there who ride around on Black Horses 6 guns blazing,cigars hanging out of every orifice,tattoo's on every appendage,more girls than Hugh Hefner and bank accounts like Fort Knox---albeit temporary--with egos to match---albeit temporary.
Traders punching in over sized orders like Boxers on Ice---jumping around like psychopaths who have lost their car keys and looking like bad actors alongside Michael Douglas in "Wall Street".
I'll back brains over balls every day.
Trembling Hand
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LOL
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I remember reading it put this way as it relates to elite sprinting -- "When the body is ready, the mind knows it". Basically, get the skills in place and the head will follow.
Every time you rehearse a skill you are conditioning the mind to respond in a certain way. I think that most of the psychological problems people encounter are related to a lack of adequate preparation...
Every time you rehearse a skill you are conditioning the mind to respond in a certain way. I think that most of the psychological problems people encounter are related to a lack of adequate preparation...
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i understand exactly where yr coming from TB ---- and i think what u did and what TH does is very similar in a lot of ways (others may disagree) ---
ballz are definitely required for this type of punting --- but from my humble experience the better u get, the bigger yr ballz get too -- lol ---
I think some really complicate things with way too many techie stuff like this spreadsheet,that flag formation etc...from my experience its best to keep it simple,have the confidence/balls in your ability & discipline to back your judgement...never let emotion cloud your judgement...tb
1.keep it simple
2.confidence
3.discipline
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