BBT Mentors Making a Difference in the Trading Lives of Our Members
The following is a thank-you message received by BBT mentor Peter Donnelly from a grateful member after one of Peter’s extraordinary webinars, How to Trade The Right Share Size for You. We felt compelled to share this note as it offers valuable advice and examples for all members of the BBT community.
Good afternoon. I wanted to send you a quick email thanking you for your recent webinar on share sizing. I am a relatively new trader and have been trading live since October. Since I’ve begun trading, I have been using a small fixed dollar amount when entering a trade, regardless of the price. That process has led to inconsistent results and frustration when a stop is hit too early or when an out of balance R:R ratio never quite pays off.
This weekend I had the time to watch your webinar and the fixed risk approach really made the most sense to me. Today was the first day I was able to implement this new strategy and it resulted in two of my most successful trades thus far. I attached screenshots for both of them.
Obviously this is just one day and the smallest of sample sizes, but the information in your webinar undoubtedly made these trades possible for me this morning. Not only did it help keep me from stopping out on these two, but maybe more importantly, kept me out of other trades that would have stopped me out as well.
I don’t think it is only about the correct sizing on a trade, but also the planning of the trade and being deliberate in executing the entry that made a difference for me. So thank you again for putting all the information together and taking the time to present it to the developing traders in the community. I appreciate you sharing your knowledge and look forward to learning every day from you and the other contributors of BBT.