Hello all,
I have a problem and any ideas help,
Since I started trading 6 years ago, my problem is risk, my losers are bigger than my winners. I have a high win ratio that's what is keeping me in the game.
I joined BBT about last weeks and the reasons for joining are
1) be done in the 1st hour
2) manage risk and have bigger winners/smaller losers.
I learned the BBT setups, I can trade them and finish my day in the first hour, however, my losers are still bigger than my winners! two long trade today (UPS and TXN) one loser short (TEN) break-even day!
I know I'm doing something wrong or I'm looking at things the wrong way.
I'm trying to use R multiples but it's so hard to actually calculate the exact size right away while the setup is happening and you need to get in right now.
in the past I used fixed-size, everything is 500 shares trade and if it's moving fast I go with 300 shares if it's moving slow 1-2K shares depending on the stock price.
since I'm an engineer I built a desktop software to calculate my size based on entry and exit, still that requires (entry input & exit input) and my set up is long gone in 5 seconds.
I built another software to calculate the size based on stop loss cents in a trade and fixed dollar amount loss per trade again too long process to get in the stock now.
sorry for the long post here, but any ideas will help me and most likely a lot of traders have the same question
So, how do you guys size fast? do you use ATR, fixed risk, fixed share size, MS calculator, pre-load Montage with size, round the decimels to nearest 10th?
( I have to admit, I just came to the realization while writing this thread my perfectionism to find the exact size might be the problem, and I'm complicating things)
Thank you so much & best regards,
Ogon (Seattle Area)
