You made my point beautifully. Thank you.
When you graduate from amateur status, you'll see that it's not about what you make (139%). It's ALL about how much you're risking to make those gains.
Let's play make believe for a moment. Let's say you have a little over $700,000 in an account. You invest in stocks, options, bond futures, and currencies.
Let's also say you have as part of your trading strategy a trade that allows for you to make an entry on a break of support. If I risk 1 pip for every 4 pips I stand to gain...and I do that on a consistent basis...and I'm right 60% of the time...then I have KNOWN risk, and a known result...and that's because I have a VERY VERY specific strategy that delivers CONSISTENTLY.
When you get to a point in your trading that you have that $700,000, and your strategy allows you to risk 3% of your portfolio, that's $21,000.
However, if you don't set a stop loss, then your risk is UNLIMITED unless you plan to sit and watch it all day long.
I'm not willing to risk $75,000 (or whatever the unlimited amount which is unknown based on no stop loss) on a trade where I only stand to gain $84,000. THAT is what I'm talking about.
My point is this. You come onto this board and criticize MY trading strategy, and say it's not viable. You also pat yourself on the back at MY expense with your comments. Apparently, you don't like technical analysis. That's OK. I have no problem with that. However, for you to come in here and proclaim that YOUR style is the ONLY way to make money is arrogant to say the least.
Just because you don't fully understand something doesn't make it useless. I can GUARANTEE that your return is better than my return. However, my returns have been VERY consistent and profitable. I'm not a get rich quicker. My main concern is in keeping what I have accumulated. If you're consistent enough, you'll get to that point someday and will understand my point here.
Risking one million dollars on a single trade is ludicrous unless you have 10's of millions in your account.
Please dispense with the veiled personal attacks on others' trading styles. It only serves to reveal your amateurish ways.
As for me...I don't have anymore time to waste here with you.
In fact, you bring a feeling to this board this is unwelcoming. I do not plan to associate myself with the likes of you any longer as you have the type of self destructive mentality that is NOT conducive to balanced success. As far as I'm concerned, I'm done here.
Go ahead and take the last word.
