DislikedGood analogy Mike. . I truly believe that trading can be done successfully and profitably but am looking for my own self control "techniques" to keep myself from burning my hands. I am beginning to think that there really is no "trade management". Only "self" management.Ignored
But I think the difference between profitability and non profitability is simply knowing when to stay out of the kitchen. You know when there's those markets that are almost impossible to lose money but then there are those markets that are seemingly impossible to make money. Knowing the difference is key. Sometimes you have to take a week off, or a day or maybe a month. Do you have the discipline to do this?
It can be hard when you feel like "I'm a trader... I should be trading" kinda thing... But I mean whose smarter the guy taking 20 trades a week and risking 2% per trade for a total risk of 40%... Or the guy who waits all week for that no brainier high probability trade and throws down a confident 5%? 10%?
Who has the discipline to trade like that when the time invested and leverage waged on one chance is so out of whack to what the rest of the population does day in day out.. Who has the balls to know that this is actually much less risk than working harder, stressing more, looking more lazy?
How much does ego and self worth come into play here, but what will be the end result after 6 months comparing these two things?
Who has the skills to know when to trade 20 times a week and when to drop back to trading once a week? What's the difference?
Who has the metal capacity to displace what's normal and to actually DO what 99.6 (or whatever that negative guy above said) Does Not?
Very fking few. And depending on circumstance this is hard...People have bills to pay and all that.
Time hides Nothing