gonna watch this one closely, and wait for demand to form.....i predict a lot of predictions on where to next!!
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- #80,601
- Edited 7:01pm Jun 24, 2014 6:47pm | Edited 7:01pm
- Joined Feb 2011 | Status: Trader | 1,405 Posts
- #80,606
- Jun 24, 2014 7:34pm Jun 24, 2014 7:34pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #80,607
- Jun 24, 2014 7:37pm Jun 24, 2014 7:37pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} I'm so pissed off I shorted from 94250 and pulled out at 94150I predicted the fall but never went back into shorting it.
90% trading is psychological.You need to work on it.You had blown accounts before therefore you have fear factor built in.
Please read this book
I changed the title.....for obvious reasons
regards
In trading, you have to be defensive and aggressive at the same time
{quote} Barev Arman 90% trading is psychological.You need to work on it.You had blown accounts before therefore you have fear factor built in. Please read this book I changed the title.....for obvious reasons regards {image}
Unfortunately, this game has no such thing as 100% sure.
Don't blame the tools. Blame the carpenter.
- #80,611
- Jun 24, 2014 7:54pm Jun 24, 2014 7:54pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} Thanxs Davit. Well fear is always part of this game. Like roller coaster ride. If we are 100% sure about the system (Trust those seat belt, hydrolic holder, etc) we dare to take the ride.
1.Position size
2.Leverage
3.Stop loss
To me any system must address risk stop loss 1st.If you have poor psychological training you might let losers get out of control or cut the winners short.
There is 2 options for Stop loss
Hard stop or mental stop.If you don't have strong psychology about trading chances are mental stop wont work.
Hard stops must be logical.Can't be 20pips above/below round numbers and numbers 00 20 50 80 00 because price gets triggered on stop losses and limit orders on those numbers.
Solution to me is reduce your lots but increase the distance of SL. This also overcomes false break outs which often occur before a major move opposite of BO
Anyway design system that works for you but addressing SL is the key.Most rookies are too focused on systems and entries but neglect addressing risk.
Professionals address risk 1st and profits become by product of that risk.
Regards
In trading, you have to be defensive and aggressive at the same time
- #80,612
- Jun 24, 2014 7:55pm Jun 24, 2014 7:55pm
- | Membership Revoked | Joined Mar 2014 | 2,448 Posts
- #80,613
- Jun 24, 2014 7:57pm Jun 24, 2014 7:57pm
- Joined Jun 2012 | Status: ケンジ | 21,416 Posts
{quote}....
{image}
- #80,614
- Edited 10:00pm Jun 24, 2014 8:05pm | Edited 10:00pm
- Joined Jun 2012 | Status: ケンジ | 21,416 Posts
- #80,615
- Edited 8:17pm Jun 24, 2014 8:05pm | Edited 8:17pm
- Joined Nov 2009 | Status: Trader | 27,245 Posts
- #80,616
- Jun 24, 2014 8:05pm Jun 24, 2014 8:05pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #80,618
- Jun 24, 2014 8:15pm Jun 24, 2014 8:15pm
- | Membership Revoked | Joined Mar 2014 | 2,448 Posts
{quote} You welcome There is a beautiful chapter on forgiveness We should not punish ourselves for mistakes (I made plenty this month) but learn from them.We often beat ourselves and think loss as failure when in fact losing is business by product just as same as winning. I ride sport motorcycle for fun and one thing they teach in racing schools never to look at the object you are trying not to hit but instead look at exit. Staring at object almost always ends up hitting it. In trading focusing fixating on a loss in vivid mental picture creates...
.Thanks for sharing again.