Hi Threeticks,
As I posted above, the protection of your capital should be a part of your system & money management. Once you have a working system the rest is psychological which is what I was referring to.
So many new traders try out a new system (that will work in the long run), experience a couple of losses, and because of their doubt & inability to accept these losses as a part of the game quickly dump the system and move on to the next. This is a vicious cycle unto itself here - one that if kept up will only hasten the traders' demise.
Again, assuming a working system (of which there are quite a few on this site), it is the traders own make-up that I have seen cause failure again & again. It has taken it's toll on my own account as well.... Something I myself am working on.
D.
As I posted above, the protection of your capital should be a part of your system & money management. Once you have a working system the rest is psychological which is what I was referring to.
So many new traders try out a new system (that will work in the long run), experience a couple of losses, and because of their doubt & inability to accept these losses as a part of the game quickly dump the system and move on to the next. This is a vicious cycle unto itself here - one that if kept up will only hasten the traders' demise.
Again, assuming a working system (of which there are quite a few on this site), it is the traders own make-up that I have seen cause failure again & again. It has taken it's toll on my own account as well.... Something I myself am working on.
D.
Disliked"What we can & must learn to control, however, is how we perceive & react to them! Stop looking at them as losses and start seeing them as the cost of doing business!"
True but,Traders must learn to control/limit losses.
Rule No.1 is to learn how to protect your capital.
This before you ever place a trade!!Ignored