Mr Worth
349 posts

Mr Worth retweetledi

What do you think he would name it?
TraderHC@traderhc
I wonder if Jpow has a Fintwit Anon Account
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@LongDongDonkey Love it, that allocatesmartly.com is AWESOME right?
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@TheTechChat @LGUS Hey LG, I got a new LG Gram 17 and am getting BSOD crashes (3 times in the past week!). These are what Mark Coppock described in his review on Digital Trends - LG Gram 17 -good idea POORLY EXECUTED! Help?...
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@VolumeLeaders Sheeeaatt! I wanted to long it with that print so bad too!
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@LongDongDonkey I'm on a monthly algo, keeps me sane. You know the site I use ...
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@LongDongDonkey Curious to know what your daily P&L's have been like with the daily trading algo and what a weekly (or even monthly) strategy would have done instead? Did daily trading affect portfolio drawdowns or volatility in a meaningful way over the past month? Longer backtest too?
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Mr Worth retweetledi

I keep harping on being defensive while the mkt is in a funk. There are many ways to increase defensiveness.
1) Take fewer setups - take 1 instead of 2 or 3.
2) Only trade the best "5 star" setups (if they exist in a crappy mkt) breaking out on the strongest volume
3) Wait longer to enter - if you normally trade the 5 min ORB, use the 15 or 30 min. You avoid a lot of opening BS by just waiting a little longer. Sure you might have to pay up a little, but would you rather pay up 3 or 4% and miss a bunch of reversals or get stopped out repeatedly on reversals?
4) Trade smaller - if your normal risk is 1%, reduce that to .5% or .25%
5) Don't trade - it's perfectly fine to not trade. You'll save your mental and financial capital. Just remind yourself that the next rally is right around the corner and all you're missing out on is a bunch of slop, losses, and frustration. You should get FOMO in a momentum market. Don't get FOMO in a shit market.
You can do one, some, or all of these. The point is to recognize when the mkt isn't great for your method and take the appropriate actions to protect yourself. Protecting your mental, emotional, and financial capital is far more critical in a shit mkt than trying to grind for pennies. Wait for the easy dollar market and smooth sailing.
Many traders keep trading in a shit mkt because they have some fomo that they are missing out on something. They get caught up in the news or reading posts where people only talk about their winners and conveniently forget the many many losers. More often than not, all the fomo gets you is eating like a bird and shitting like an elephant during a bad mkt. A lot of work and little to show for it except losses and frustration.
By waiting for the good conditions, you'll have maximum mental and financial capital to take advantage of the favorable conditions. Pat yourself on the back for waiting and avoiding the bullshit.
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