Thursday, January 03, 2008

So Long, and Thanks for All the Fish


I hope this blog has been of interest to you might have noticed, I have stopped writing new articles some time ago. Actually I stopped because I was preoccupied with other things besides trading, which took most of my time.

I'm back to trading now, but I did not resume writing this blog. I actually might write a new article once in a while, but writing a blog like a daily logfile takes too much time. And to tell the truth, it did not bring me forward in my trading.

What brought me forward was adding Slings back to my repertoire of trades and removing the account balance window on my trading platform.

So before I say So long, here is peak view on my new layout


I wish all of us a prosperous and healthy year



Anonymous said...

Best wishes in your trading. Have always enjoyed your commentary as you grew in trading. Your blog has been educational and informative. I know many will miss your insights into trading. God bless

Anonymous said...

Thanks for sharing on your blog Chris.

Hey, Dennis (aka Sport) has a new trading room. You should stop by sometime. Just e-mail him for the password.

One thing I think you would benefit from in there is watching how he position sizes for the day. He starts out small. Then, when a couple of trades have gone his way, he gets large, using those winnings as "stop-loss money" and then builds on the stronger trends. It's a real eye-opener into how a big-time trader manages his money.

Another thing is that he doesn't have large stop losses. He's only risking 10 ticks on the ER2 upon any entry.

I know how you've methodically tried to just keep it small and build over time the number of contracts you let yourself trade, but after watching Dennis trade, I've come to believe that one has to learn how to go large more often in order to get used to the fear aspects of it and to help instill more confidence and belief in oneself.

For example, if you're trading the ER2 and you make $800 US (if, say, 2 contracts is your normal size), then take $400 of that, go to 4 contracts with a 1 pt stop loss on a good setup. If that shows you, say, 2 pts, then put that $400 that you risked to the side to give you $800 for the day and then on the next trade, GO LARGER with 8 contracts with a 1 pt stop loss. You could do this or keep adding on pullbacks in a stronger trend while trailing your stop loss to breakeven as you keep getting larger (Dennis does this very effectively). If your initial attempt to go large shows you that first loss of $400 on a 1 pt stop loss, then if you want to trade more, you need to go back to your original sizing to build up more "stop-loss money". If your second trade shows you a breakeven, then you still have the opportunity to use that 4-contract level on the next trade for 1 pt. And so on and so on.

You've got to stop by the room Chris and see it for yourself. It may do more for your own beliefs and confidences in your trading than this blog ever did.

cometguy said...

Hi Chris,
Just wanted to wish you a prosperous New Year. Trading blogs, like trading rooms, can take time and focus away from the real goal: profit. I've given up on rooms years ago but have enjoyed following Sport's blog, as well as yours, and look forward to your occasional posts in the future.
Best of luck,

Anonymous said...

Dear Chris,

I have enjoyed reading your very many insights into trading these past several years and look forward to your further posts as and when they come.

I wish you and your family all the very best in 2008 and into the future.

All the very best,


aka david_uk

The Lonely Trader said...

Nice way to go out!