Random Day Trading Observations on A Hot Summer Day….

If you trade in a team you will always trade better…

When day trading it easier to be 80% accurate on 1-2 risk reward scheme than 40% accurate on 2-1 risk reward strategy…

Edges are easy, sticking to them is hard…

If you trade small and take your stops you may lose, but you will rarely FAIL and lose it all…

Every blown account is the result of ego rather than strategy…

The most important thing in trading is not to win, but to survive…

The market is a Markov process -- it could give a sh-t about yesterday and even less of a sh-t about your position…

Moving averages, support and resistance lines, Fibonacci retraces are all just squiggles on a chart to give us illusion of control…

Brett Hull is right. Systems exist so you can remove as much randomness as possible from trading…

The best measure of your performance is your total return divided by your max drawdown. If it’s 2 or higher -- consider yourself doing well.

The maximum opening trade if you trade more than 10 times a day should be 1X equity. If you don’t add a single unit you would have already levered your account by 10X through simple turnover alone…

The maximum opening trade if you trade less than 5 times a day should be 2X equity.

The maximum opening lever factor if you day trade period should be 4X of as we like to say --
4X for forex…

If your profit factor is 1.3 or better and you did more than 200 trades pat yourself on the back…

If you don’t have a myfxbook account, you are not really trading. You are just f-ing around….

If you want to be good at this, commit yourself to trading for at least ten years….

With dog days of summer upon us, it’s good to take a break. So until Labor Day , I’ll recycle some of my favorite columns from the past.

Enjoy the beaches and the mountains everyone.

Boris Schlossberg

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