|VEEFX ||Sep 22, 2010 12:59pm | Post# 2755 |
Just wondering out loud, Graeme is trying to lead us to not be afraid of sending soldiers into the field, scouting for long term legs.... if you close all your positions, instead of considering to let the market decide (you have set them to BE) if it is going to go for a longer ride(flow) in the direction of the hindsight or not.....
Should we not be trying to adjust our mental processes to accept the results of the decisions we make with hindsight at the beginning of our entries.......
Good point Bruce. Adding this post not just to Bruce but to all our readers and participants of this live trading event.
Here's my take on where Graeme wants to go with these live trades. This is pure speculation as I have no 'insider' information on the flow of his teachings compared to the rest of us. I think, we all did not perform well in the first two rounds of weekly assignments. We all struggled with entries, frustration with loosing BEs etc. This live event is to help us all pass that 'elementary grade level' to become successful in our entries, stacking, selecting/shortlisting which pairs to choose, gain thorough understanding of PA based anticipation and hindsight etc etc.
Graeme in reality is walking us thru the process of what we all do in our normal trading life... set hard SL and TPs... hence a very rigid mission statement for us to follow. I truly think there is a hidden agenda in our mission statement which (admittedly by Graeme) will evolve and change in the course of these live trading engagement. I believe, Graeme wants us to experience the negative outcome of closing all trades in profit and then make us all realize what will happen if we keep one or two legs open for infinite yield.
This is just my 'anticipation' of the direction of this thread in coming weeks. I could be wrong but I surely am prepared to to be flexible in tackling whatever comes our way through his teachings.
EDIT: one more thing... don't we all factor only one position at a time when considering R:R trades. This is a completely fresh perspective and statistically proven one to leverage stacks (4 in our case) for the benefit of risking only 1 SL. Think more about this aspect as there is a deeper meaning to what we are doing here. Graeme mentioned never re-attempt after one failure.. why is that? Graeme mentioned Marion would close all or some after his first soldier's SL is hit... why is that? Answer to both are tied to our mission statement. This is way too deep to understand (it was atleast for me!) upon one single read of this thread and his valuable end-of-trading day analysis. Please try and ponder your thoughts around his recent analysis. It will eventually fall in place.
Hope this helps.