Ok,
The answer to our question works a bit like the dials on a safe:
they all have to be in the right place before you are able to open the door.
That is the reason why I have thrown all the different aspects into the conversation. Each of them represents a dial (or its combination) that will have to be put (in the) right (place) prior to applying the equation which has worked for me over the years.
The good thing for you is that you have a certain freedom in choosing and applying some of the 'dials' and the whole operation will still be a success.
One of the parameters you can choose is the actual method you might want to trade- and there are as I mentioned, plenty around - it is your task to find the one that fits your mentality. Most of them come completely without money-management guidelines. It is your job to apply the MM according to your needs and according to your capital.
It will also be your responsibility to identify which of the methods have the right properties to take from the markets what you need - I can only guide you by pointing out what has, and still does work for me.
It may sound daunting but please realize that most methods/systems/grails are based on the same principles: to get you in and out of the market preferably for a profit each time. (I say this with a little sarcasm attached because in my opinion, many of the methods make it rather more difficult to achieve that goal by being overly complicated)
I will most likely be through with the thread by tomorrow - early next week the latest. That does not mean I won't be answering questions after that - should there be any, of course.
I will as promised be particular about capital requirements, position sizing, money-management stops, compounding and will give some examples of how I personally enter and exit my trades.
H. Rearden
The answer to our question works a bit like the dials on a safe:
they all have to be in the right place before you are able to open the door.
That is the reason why I have thrown all the different aspects into the conversation. Each of them represents a dial (or its combination) that will have to be put (in the) right (place) prior to applying the equation which has worked for me over the years.
The good thing for you is that you have a certain freedom in choosing and applying some of the 'dials' and the whole operation will still be a success.
One of the parameters you can choose is the actual method you might want to trade- and there are as I mentioned, plenty around - it is your task to find the one that fits your mentality. Most of them come completely without money-management guidelines. It is your job to apply the MM according to your needs and according to your capital.
It will also be your responsibility to identify which of the methods have the right properties to take from the markets what you need - I can only guide you by pointing out what has, and still does work for me.
It may sound daunting but please realize that most methods/systems/grails are based on the same principles: to get you in and out of the market preferably for a profit each time. (I say this with a little sarcasm attached because in my opinion, many of the methods make it rather more difficult to achieve that goal by being overly complicated)
I will most likely be through with the thread by tomorrow - early next week the latest. That does not mean I won't be answering questions after that - should there be any, of course.
I will as promised be particular about capital requirements, position sizing, money-management stops, compounding and will give some examples of how I personally enter and exit my trades.
H. Rearden