ok i just read a book by Curtis Faith the best turtle trader… i have been trading for about 3 1/2 years and i found out that me and him use about the same strategy.. What i do is look for patterns on a weekly chart… i see where the lows and high are and make a bet so to say.. i put in a trailing stop order for 3% that way if the stock goes up i make money but as soon as i drops 3% it sells… sometimes i just let it run for a week or 2 as long as it dosent start a reversal in the pattern as soon as it does i short the stock and cover when a reversal is reached but by cutting loses at 3 – 5% and letting the profits run you can be wrong 7/10 trades and still come out ahead… i have been doing this consistantly my average annual return is now 192%! i am up 392.2% YTD before the crash i was up 350% then during the crash my account went down to about 330% and now im up!!! do you think i could become a hedge fund manager with this strategy??? im gonna practice it for the next 10 years and if successful i should have atleast XX millions to start a fund.. but will investors invest in a fund like this??? i mean technically im taking little risks right?? i never put more than 30% of my capital in anyone trade if i did tho i would make even more!!
however im not an ivy league grad im a simple trader with no life LOL
would hedge fund investors love to invest in my fund could i be the next like paulson
but im mostly right like 6 or 7 times out of 10 trades
i do it with real money and as a turtle trader we trade without emotions we dont care if we lose or win as long as we stick to the strategy and cut the loses and let profits run and yes i do it both long and short
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Listen, good investment returns don’t care where you went to school, neither will your investors. It isn’t a strategy I use cause I rarely short sell. I’m a gutsy holder/trader. trading on the volatility you mentioned, I’d fall asleep crunching numbers and paying Uncle Sam taxes. I trade 7% of a position on about a 10% price move, history bears out around 50-60% top-bottom cycles. Cash is king. I’ve been trading 20 years, I’m 42, and I’ve made a few people very happy. It’s good to hear someone else be positive and realistic about this downturn.
So what knowledge are you seeking?
Your strategy might work if you follow it going short as well as long, but have you done it with real money or just on paper?
It is a lot easier to get rich on paper since your emotions don’t influence you.
A big problem with this would be the brokerage fees since you would be whipsawed so often that it might take a dozen trades before you got a stock that kept moving up or down without a 3% reversal.
Generally, anything you buy goes up in a bull market and down in a bear market. Picking the stocks are secondary to the trend of the general market.
You’ve made up a nice fairy tale, but this strategy would never work. A 3% trailing stop is too tight. The stop would be triggered before the stock had a chance to run up more than a few percentage points, and that’s only if you happen to time it right.
Let’s use MSFT as an example. There is not one day in the last two weeks when your trailing stop would not have been triggered. This is true of almost every stock. The only stocks that wouldn’t be triggered are also stocks that aren’t going to move up and down much either. Any wider of a trailing stop and the upside would never be adequate to cover the losses on the downside.
I don’t know what you’re trying to sell, but your turtle trading strategy is useless.
All that you have to do to prove me wrong is to name one stock and the day and price that you bought it. We can check to see how long it lasted before the stop triggered.