Quote: (01-13-2016 08:30 AM)robreke Wrote:
10 years so you're not a newbie which I assumed.
I'm glad you've got a system that works for you.
Do you consistently grow your account each year? I assume you're making money with your strategy?
FWIW, my system and those I follow are based off of the system of the most successful or one of the most successful, traders ever. Jesse Livermore from Reminiscences of A Stock Operator Fame.
Yes, I know all about position size being part of risk management as I'm a big advocate of it.
As far as being "addicted" to trading and the markets every day, if that fits your temperament, that's great. As for me, I'm happy as a lark to be sitting in cash since mid December when this correction started and while everyone else invested in stocks is down.
I understand what you do from the explanation but it's way too complex for my temperament. I've found something that works for me and that's the key if one is to be a good trader.
Best of luck.
Trading makes up around 50% of my income so I rarely take money out so yep, I'm consistently growing my account.
I've read about Jesse Livermore in the past but I'm not aware of his system. I did think he traded short as well or maybe I'm thinking of someone else?
If you're only trading long then staying out of the market in pullbacks makes sense. Do you let your stops take you out or do you get a specific signal and then just close all positions?
Although it sounds complicated my trading is pretty simple once you understand a few key concepts. It's very mechanical, being probability based takes out any emotion. I'm happy to go into more detail if anyone's interested.