Disliked{quote} Swede Because of the type of guy you are, Open, Honest and Transparent with your ideas trading methods and even indicators that you use, you are responding to a 19 year old student that starts most of his posts with "What do you think guys" My Thoughts are I find creating Trading Methods very easy, their are guys like You, Parisboy and many others on FF that take the time and trouble to post their (in most cases excellent methods), I can either run with their idea's or mix and match them to develope something that suits me The thing that...Ignored
Its called management, are we managing a trade just like we manage our life? If we are about to retire, do we take out a million dollar mortgage for that fancy property only to now find we haven’t the resources to actually retire and go fishing or something, why? because were in too deep. Same with trading, do we take on too much to be comfortable so we can give the trade time to mature?
Warren Buffett ( a man I admire) is a buy and hold trader. He has owned shares like Coca Cola forever because of the overall demand and acceptability of the product. He believes in it totally. But did his philosophy work when he believed in the overall weakness of the US dollar by shorting, and holding the trade? He lost what you and I would consider a fortune by betting on weakness that was not there, and even when the signs were clear he still held his positions......see, he needed to change quickly, and we need to do just as you have stated many times “I trade what I can see”.
my target on Cable is 1.37....about 70 more pips to go so this was my buy and hold....small position, stop at break even +50 at this point.....watching Cad daily atm...think an opportunity here.
About the little snot who questioned my integrity.....he is just looking for a handout, not prepared to actually do some pre planning before trading...and that’s unfortunate because he will go nowhere in life with his attitude. Best he go back to his comic books for guidance.
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