DislikedNot Quite,
A person can still be a discretionary trader and implement proper money management, all of my longer term systems are discretionary with proper money management.Ignored
Thanks
Forex changed forever! 315 replies
an EA that worked forever 29 replies
Forever Demo Account 9 replies
DislikedNot Quite,
A person can still be a discretionary trader and implement proper money management, all of my longer term systems are discretionary with proper money management.Ignored
DislikedWell, of course, you are welcome to take an interest and contribute however you like, and I appreciate your sentiment.
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DislikedNo mate, I rode it out and scored the win. I am a complete failure. But seriously, I am glad to have all the intervention.
Hope things are going good for you.Ignored
DislikedI don't mean to sound like an asshole here, and I assume you are trying to be helpful. But this post is nothing but cliches and psychobabble.
None of the above apply's to trading whatsoever.
You say No stops and position sizing go hand in hand ?
Without stops there is no such thing as position sizing.
huh ?
http://www.turtletrader.com/files/im...udor-jones.jpg
Picture says it all - Losers average losers, Paul Tudor Jones knows good tradingIgnored
DislikedHi TheFool
Good to see you are still kicking
You and I suffer similar problems.
As a side issue, I only follow and read a couple of threads now. I do not read the e/u thread anymore as there is too much number picking out of the air and making of predictions. I like to follow the price action of the market and let that tell me what I think the participants are up to. I have no time for indicators any more. Just my 2 cents worthIgnored
DislikedIf you don't have rules, you don't have a system. You want a system where you can break the rules? Why have rules in the first place then? If you aren't going to follow them they aren't your rules anymore. Without rules you are just gambling. I'm not saying discretionary trading can't work; maybe you're so good at reading charts that money management doesn't matter. I don't think there are many (if any) people that are that good though.
Your quote by William Blake should probably read "The fool who persists in his folly will be humbled by the...Ignored
DislikedThanks! I understand where you are coming from a little better now. I completely agree you need a system that fits you. Finding rules that suit your style and personality are important, and that definitely takes time. For example, I personally don't believe in averaging down BUT, if the overall risk to your account is taken into consideration I think it can work well with some strategies. If you can get a profitable set of rules you are comfortable with and then follow them with discipline, you will be a great trader.
Good luck and I'll check...Ignored
DislikedI don't mean to sound like an asshole here, and I assume you are trying to be helpful. But this post is nothing but cliches and psychobabble.
None of the above apply's to trading whatsoever.
You say No stops and position sizing go hand in hand ?
Without stops there is no such thing as position sizing.
huh ?
http://www.turtletrader.com/files/im...udor-jones.jpg
Picture says it all - Losers average losers, Paul Tudor Jones knows good tradingIgnored
DislikedLet's run an experiment....
You trade your way, and I'll think outside the box and do it my way....we'll post our results on https://www.myfxbook.com/
Ignored
Dislikedlol X. I doubt if Jigsaw will take you up on that but if he does and if you guys want to duke it out here, feel free, just keep it nice.Ignored
DislikedOh really? And enlighten me to why cost averaging is a losers game? Is it because you read it somewhere in some book by a highly acclaimed author, I mean trader or is it because you've experienced it first hand like 95% of losing traders?
Oh educate me great trading master.....
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Disliked
But over all, if you first trade woulda made it eventually your much better off probability wise with averaging down.Ignored
DislikedHonestly Fool.....there's so much stuff I could show you, but I'm under ND with my client and I can't. All I can say is, your off the wall thinking is what will make you alot of $$$. Don't listen to b.s. conventional wisdom.
Do it your way and follow the beat of your own drummer.Ignored
DislikedI dunno, D. - every time I have chased a loser with a big average-down stack I would have been better off taking a quick loss from the original and just reversing the trade direction from the get-go. Maybe less profit ultimately but very much less risk.
There is a strategy there with "averaging down" but I believe it involves having trades running both directions simultaneously or hedging. That way you are always in the market and you are always winning one way or another. Having those positions well undersized relative to margin available would...Ignored
Dislikedlet us to figure out how much you get or lost, the more you get ,the much you lost . you risk 50% to get 4% , as same way you lost them. it is half to half ,two way street.
gangbling always gives you happy and tragedy. lolIgnored
DislikedStop counter trend trading mate in short, this alone will put your win rate up hugely!!Ignored
DislikedYup, good advice. I don't know why I developed that tendency from the beginning.
The trend is my friend.Ignored