[nyctrader]

By an "All or Nothing Management Policy" do you mean go in with all your contracts (for any single trade) and have a fixed target for all, as opposed to (1) scaling in or (2) scaling out?

[Fx Riot]

Really and truly im must say that its the fact that i did collect my profits and stop allowing the greed to take control of me by wanting to make 100 pips or more on every trades. When i just started out trading forex in 2006 i lost thousands of dollars and it affected me so bad that i kept profitable positions for too long without closing or i would just move my sop to BE and it would come back and hit me. the long and short of it was that i was looking for a home run to make back my thousands, How crazy was i ? But the fact that i started taking profits and leave a little piece of the position open if possible, that was what turn around my Losses in to Good profits

[dstrafling]

Leave your ego/opinions at your trading room door - trade what is actually happening, not what you think should be happening!

[chuckt101]

Originally Posted by wits7yle »

1) Follow an All or Nothing Management Policy until you can prove with valid statistics that you can beat it. (80% of all traders still cannot beat AoN trading)

Where did you find this statistic?

[dangermouseb]

Originally Posted by chuckt101 »

Where did you find this statistic?

I've seen that come up in a few places. Velez have that opinion. I'm in the process of developing a framework to explain it - I know from my own day trading it is easy to do emotionally driven stupid things, that shoot myself in the foot. Using an asymmetric bracket order (say 2:1) at least keeps me from tending towards a non-profitable 1:1.

-- DM

[Uli Schmuli]

Originally Posted by wits7yle »

4 Things that has changed my trading career and will change yours:
1) Follow an All or Nothing Management Policy until you can prove with valid statistics that you can beat it. (80% of all traders still cannot beat AoN trading)

If you trade one contract, or several, each contract has its own trading plan and set of rules. Think about it: If you are scaling in, there are different entry rules for each contract. Same goes for scaling out. Therefore: EVERY TRADING PLAN IS ALL IN / ALL OUT

It's just that when trading more than one contract, you are actually managing different strategies. So the real key here is to find a trading strategy that works, and trade it live until you are consistent. Then you can add other strategies into the mix.

[Grey1]

Originally Posted by OpenMind »

I wasn't trying to come across as a smartass. What I am trying to tell you is this:

A. Trading is part of a package, the package being the individual. One part of the package cannot suddenly excel, that too in probably the most difficult endeavour known to man, if the package overall is of poor quality.

B. Once you have experienced this realisation and have acted on it and seen the results, it doesn't matter what others may or may not say, or whether they agree or disagree.

well said such a word of wisdom my man

[Gulam]

Hi Guys,

I am not sure if this is the right thread to type this message, but I hope in 6 months I will be able to post live trading results with confidence. God willing I feel that this is going to be my turning point.

I had the pleasure of watching Grey 1 trade in his house, and I must say since I been, I can't sleep, thats how good its been for me

I have never seen anyone trade the way he does. So relaxed and confident. Before he traded he said he will make money God willing. End of the day he did make approx $2.5k inc his program trading.
All his position didn't go into profit immediately, but waited until the market turned into his favour. He didn't get phased out or feel uneasy, just waited calmly.Its all about risk analysis and using position sizing to reduce risks.

Its been truly inspirational to me. The way he does things is a new dimension to trading and technical analysis. I feel everyone needs the CORRECT education.

Thank you Grey for your kind assistance and showing me the correct way to make money.