Dealer in Raleigh,NC is horrible. I've bought 4 Teslas from them and something is always wrong with paperwork. They seem to be legacy automotive dealer ppl who try to run things the old way. Had a scheduled test drive over July 4th weekend. We were definitely thinking of trading in and buying a new 3 performance. We were even called and verified the day before. We drive an hour to go pick it up and no one is at the dealership. Service bay was unlocked and we walked right in but no one was there. They just left it for the weekend unlocked. We called Tesla and they virtually shrugged and said some locations may be closed for the July 4th holiday. Yet we were contacted the night before to confirm! Shouldn't you know if your locations are open???? If I could buy from out of state I would. We have complained many times to the Raleigh location. They seem to have a lot of turnover but I'm thinking they are being run by the legacy automotive ppl from the area and it's definitely not customer oriented. The whole thing should be dismantled and restaffed from the ground up.
@STAAAKSofficial@Tesla@elonmusk@SawyerMerritt@farzyness Haha this is par for the course here in NC. We finally got someone on the phone at corporate but they weren't concerned about an unsecured building. This side of the business has always been Tesla's Achilles heel.
Scheduled test drive @Tesla, had phone call confirming yesterday. Arrive & no one here w/doors to sales ctr locked BUT service door open. I walked in & NO ONE is here!! I've owned 4 Teslas & sales / svc ALWAYS the worst. @elonmusk@SawyerMerritt@farzyness
Of course it's the same percentage drawdown. But if you are now drawn down to a 4k account, you either risk $40 (which effectively reduces your Rs when you win because you were losing $50 on the way down), or you risk the $50 which is now 1.25% of your account. I don't think you would risk 1% on a half million real account. The ppl I know are less than 0.5% risk which makes the drawdown less of a total issue on a large account and you can keep the dollar risk the same. Yes it's psychological but a small account can't mathematically take multiple large drawdowns. If you had -20R and then 1 win and then another -10 or more R before your next win and so on, at some point you simply run out of money or at least it becomes a huge hole you have to dig out of. Again it's just the way I see it
This is so true. It's imperative to adhere strictly to proper risk & s/l. If you are nervous when you take a loss, then your risk is too high. Lower it until it doesn't bother you to take that loss. If you are true to the rules of your backtested system and have proven to yourself that it's profitable, then the only thing stopping you is you. It's a marathon not a sprint.
@ardumometro In your math, you assume all 80 that got stopped out at 0.0 then went on to -0.2 right? But can you make that assumption? Maybe some of those 0.0 stops didn't go as deep as -0.2? Maybe they went only to -0.1? Or are you assuming your stops are at 0.0 and then -0.2?
In the beginning of the academy I would set my orders to where my first entry at a shallow retracement would have a very conservative stop giving barely 3r and then my second entry at a deeper retracement would have an aggressive stop. That conservative stop was due to my own fear and mental issues trading.
If I had paid attention better the probabilities at that time, it of course makes more sense to have the aggressive stop first, which is what M7 always preached because based on what Santi has been showing with the probabilities , that first shallow pullback needs much greater R if it's only representing 20 or 30% of a possible pullback, due to the stacking statistics and getting a good expectancy.
Just an observation on my own personal growth
@ardumometro@danny_samimi This 100%. Everyday. Same thing. Simple. Wait for confirmation. Mark clusters. Set my limit orders. It either goes or doesn't. Follow rules. Just like your backtest. Marathon not sprint