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atlus1432
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trader and Excel based software developer of risk management software
My company:
Fulcrum Shift Trading
My blog:
Fulcrum SHift Trading
  • Exiting a trade - All at once or scaling out of a winning position?? part 4 0 comments
    Apr 6, 2009 11:28 AM

    What was supposed to be a 3 part series on how to optimally exit a winning trade has now climbed to 4 and will definitely reach 5, and perhaps go to 6. My original estimation of completing this topic in a 3 part series was a bit optimistic however the importance of this topic (optimizing the exit of a trade) and how to use this unique tool the m3 - Money Management Modelerwarrant the additional web tutorials to fully complete the lesson. As mentioned previously, after I had completed this platform and began modeling out multiple "what-if" scenarios, I was completely caught off guard by the results the platform was generating. Keep in mind, that my opinion, of seeing completely unexpected results, is not only coming from a trader who consciously has been very in tune with risk management, position sizing and probability for the past 12 years, its  also an opinion from the platform developer. I saw (and still see) things that I just had no idea that were constantly in play. Successful directionally trading is far more complex than most even realize which can account for why so few traders truly realize their potential or get what they were hoping for when they entered the arena of trading. Here's something else that I have said in previous blogs - "you eat what you kill" - if you are good then you are by default consistent. We've all put on a winning trade - we all know people who have placed a winning trade, perhaps even a large one - but can they consistently, day in day out be right more than they are wrong? And when they are wrong do they draw their account down so far that it may take them months (if ever) to recoup those types of  losses? I certainly was a part of that vicious cycle until I decided to get out of this profession, exactly what I came into is for. In a word - LIFESTYLE - to live life on my terms. I always have said to those closest to me that there has NEVERbeen a dollar figure attached to those goals. The money has always been secondary for me - the priority has been the ability to do what I want, when I want - not being a slave to the 9-5 grind only to find I have been laid off due to corporate downsizing, or any number of other unpleasant issues that accompany that type of career. Don't get me wrong, I respect and understand that people need to do what needs to be done to get by and make ends meet - that's the reality of life, but again, I just happened to chose a different path because of what I wanted out of mine (life). Regarding the above point and my comment that the money has always been secondary to me, don't get me wrong, if I can make $2-3,000,000 a year or more trading,then GREAT, but I don't need that amount to find happiness. I do quite well but had to learn through many many many trading mistakes that the path to trading freedom and independence comes from a methodical,consistent approach and game plan, regardless of your methodology.The m3 -  Money Management Modeler is a tool unlike any available today that will  help you reach that end.

    Enjoy part 4 and the next video (possibly 2 ) will be posted later today
    http://www.screencast.com/t/La3Qqfg4

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