PocketPAT

Just had THEE GREATEST epiphanies this morning. I've reconsidered sizing in three times, mainly because I LOOOOVE the low-risk factor that it provides. I basically have to be TERRIBLY wrong on a play to get stopped out for a small loss, because my loss-limit for the 1/3 initial entry is often far down the chart. Last night, I was listening to the "Chat With Traders" podcast on YouTube and going through the "Risk Management" compilation video. FuturesTrader71 was talking about getting the most out of the market while losing, to understand the market flow. Make the market work to take your money. My only issue with sizing in at WeBull is that I don't want to accidentally lock up my ETrade or TDA accounts, getting their "one-size" day trading rules mixed up with WeBull's "unlimited size-in" day trading rule. This morning, it dawned on me that I could technically size-in THREE times at WeBull on a single day trade. THEN! It dawned on me that I could actually size-in three times EVERY day, using all three day trades at ETrade and TDA on single positions. I could size in 3x at ETrade on Monday (all three trades), 3x at TDA on Tuesday(all three trades), and 3x at WeBull Wednesday, Thursday and Friday (each day using a single trade). I could still trade every day, but with the lowest risk-level and with my stop being so wide (from the 1/3 entry) I could just get out early once the trend is broken and save the other two trades for another play! On this other play, I would only size in twice though (two trades left) and I could continue to keep losses extremely small. I've also decided to add TZA to my daily watchers as I can simply get in with full-size (because it's so expensive and slow-moving) and make back those potential losses on the third trade (if stopped out on the second) or collect small gains in the event that the markets are down. This was a FANTASTIC day for progressing the strategy =)

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