Point landing without sight
Dear Traders,
Flying with a plane is 100 times safer than driving and even 3,000 times safer than riding a motorcycle. According to the US Federal Aviation Administration (FAA), the chance of surviving a plane crash is 90 percent. The most dangerous phases of a flight are 20% at take-off, 30% during flight and 50% at landing.
A trade has a similar structure: 1. Start of the trade, 2. Trade in progress and 3. Landing of the trade.
If we assume that when starting a trade you have a 50% chance that you are right, you can do relatively little wrong here. If the trade is running, the error rate is also lower. The challenge is closing the trade. Here decides the amount of the profit or the loss.
The challenge we all have is that nobody knows where the course is going. We can guess, maybe improve the odds in our favor, but we donīt know.
Trading in principle is like flying without sight. But despite fog, blizzard darkness and poor visibility, the pilots make the almost impossible and land the A380 with 500 tons safely on the runway.
But how is that possible? Instrument landing system, ILS is the magic word that helps pilots land. Two beacons that set the course and altitude for landing are processed by a special ILS receiver and displayed in the cockpit. This allows pilots to determine during landing that they are on the right track and correct possible deviations immediately.
Such an ILS system is also available for trading. It is the price chart and our indicators that we use to act.
Any experienced trader swears by his system, and as long as he makes more profit than loss, he's right. Since there are many traders, there are also many different systems that are more or less successful. What is good for the one trader does not have to be good for the other.
A daytrader goes short and a scalper goes long, both can be right. Both had a profit, although at the same time they acted in different directions.
The secret of being successful is finding and implementing the right system for your personality. That's why it's important to find out what kind of trader you are. Then it's about the system and then about money management. All this must be coordinated to be successful in the long term.
I've tried different systems over many years, and I've come to the conclusion that supply, demand and balance are the factors that best support my style of action and produce more profit than loss. It does not necessarily mean that my system is the best in the world. It just means that for me it is the best in the world. And that means nothing else than that I have found my system for me. But that took a few years. In retrospect, every trader wishes that he could have discovered his system today earlier. But that's always a matter of time. If you spend more than a year on the stock exchange, the odds of being successful are very high. Unfortunately, there is no guarantee for that.
So first, look at what type of trader you are, then find your matching system and organize your money management. After that you are light years ahead of the others. If you are not as successful as you wish, there is a nice sentence:
Every day you have the chance to start over.
I wish you success on this journey
Best regards
Dear Traders,
Flying with a plane is 100 times safer than driving and even 3,000 times safer than riding a motorcycle. According to the US Federal Aviation Administration (FAA), the chance of surviving a plane crash is 90 percent. The most dangerous phases of a flight are 20% at take-off, 30% during flight and 50% at landing.
A trade has a similar structure: 1. Start of the trade, 2. Trade in progress and 3. Landing of the trade.
If we assume that when starting a trade you have a 50% chance that you are right, you can do relatively little wrong here. If the trade is running, the error rate is also lower. The challenge is closing the trade. Here decides the amount of the profit or the loss.
The challenge we all have is that nobody knows where the course is going. We can guess, maybe improve the odds in our favor, but we donīt know.
Trading in principle is like flying without sight. But despite fog, blizzard darkness and poor visibility, the pilots make the almost impossible and land the A380 with 500 tons safely on the runway.
But how is that possible? Instrument landing system, ILS is the magic word that helps pilots land. Two beacons that set the course and altitude for landing are processed by a special ILS receiver and displayed in the cockpit. This allows pilots to determine during landing that they are on the right track and correct possible deviations immediately.
Such an ILS system is also available for trading. It is the price chart and our indicators that we use to act.
Any experienced trader swears by his system, and as long as he makes more profit than loss, he's right. Since there are many traders, there are also many different systems that are more or less successful. What is good for the one trader does not have to be good for the other.
A daytrader goes short and a scalper goes long, both can be right. Both had a profit, although at the same time they acted in different directions.
The secret of being successful is finding and implementing the right system for your personality. That's why it's important to find out what kind of trader you are. Then it's about the system and then about money management. All this must be coordinated to be successful in the long term.
I've tried different systems over many years, and I've come to the conclusion that supply, demand and balance are the factors that best support my style of action and produce more profit than loss. It does not necessarily mean that my system is the best in the world. It just means that for me it is the best in the world. And that means nothing else than that I have found my system for me. But that took a few years. In retrospect, every trader wishes that he could have discovered his system today earlier. But that's always a matter of time. If you spend more than a year on the stock exchange, the odds of being successful are very high. Unfortunately, there is no guarantee for that.
So first, look at what type of trader you are, then find your matching system and organize your money management. After that you are light years ahead of the others. If you are not as successful as you wish, there is a nice sentence:
Every day you have the chance to start over.
I wish you success on this journey
Best regards
Forget:That does not work, amateurs build the ark, pros the Titanic!
