D1 - theres no need to use your -50 today - its gonna be a big ol black door opening
Carpe diem: Intraday tactics for Dax and Dow
- #2,823
- Dec 9, 2014 5:20am Dec 9, 2014 5:20am
- Joined May 2014 | Status: Full Time Trader | 27,113 Posts | Online Now
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Happy Trades
Focus only on what truly matters!
- #2,824
- Dec 9, 2014 5:55am Dec 9, 2014 5:55am
- Joined May 2014 | Status: Full Time Trader | 27,113 Posts | Online Now
Focus only on what truly matters!
- #2,825
- Dec 9, 2014 6:08am Dec 9, 2014 6:08am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
{quote} i do that very often (taking sl to be) when position is at +10 in order to reduce risk to 0. when you look at my trading posts yesterday, you might understand my reason: +-0/+-0/-10/-10/-10/+30/+60 i have a daily maximum risk limit of -50. if i wouldn´t have reduced risk at my trades 1 and 2, this risk limit would have been reached (-10/-10/-10/-10/-10) and i wouldn´t have had the chance for the following 90 points.
the psychology behind trading is most important while scalping.The moment to press the button is something everyone has to learn themselves.
The mistakes costing money are mostly made when it goes wrong like:
-damn I must be right, again it's cheaper now....
-damn 2nd time wrong, its even more cheaper now, double up to correct losses
-damn half account gone, hell with it risk the rest
Or when it goes right like:
-Nice one, how smart I am, next time I double the trade
-I'm so good, I leave that trade overnight, what can happen
-I'm so good I'll tenfold position and let it run.
-that guy is so good, hell I haven't the faintest idea I just follow him
Great show D1, appreciated!
Don't be a hero. Don't have an ego. Always question yourself
- #2,826
- Dec 9, 2014 6:10am Dec 9, 2014 6:10am
- Joined Nov 2013 | Status: Made in Germany | 19,871 Posts
D1 - theres no need to use your -50 today - its gonna be a big ol black door opening
fortis fortuna adiuvat
- #2,827
- Dec 9, 2014 6:12am Dec 9, 2014 6:12am
- Joined Nov 2013 | Status: Made in Germany | 19,871 Posts
{quote}
thanks, USD-Bear
fortis fortuna adiuvat
- #2,829
- Dec 9, 2014 6:24am Dec 9, 2014 6:24am
Puling the trigger, staying focused, being disciplined and being consistent in one's approach to markets is THE most difficult part of trading. Our mind is our greatest enemy in trading. Reasoning for one.. I think D1 shows exemplary discipline, consistency and pulling the trigger at the right moment. Many of us can learn from this. Well done D1. I am sure many traders in this blog will be grateful for your wisdom. I certainly am.
Trade Your P/L, Trade the Market. Manage your Risk.
- #2,830
- Dec 9, 2014 6:27am Dec 9, 2014 6:27am
- Joined Nov 2013 | Status: Made in Germany | 19,871 Posts
fortis fortuna adiuvat
- #2,831
- Dec 9, 2014 6:28am Dec 9, 2014 6:28am
Puling the trigger, staying focused, being disciplined and being consistent in one's approach to markets is THE most difficult part of trading. Our mind is our greatest enemy in trading. Reasoning for one.. I think D1 shows exemplary discipline, consistency and pulling the trigger at the right moment. Many of us can learn from this. Well done D1. I am sure many traders in this blog will be grateful for your wisdom. I certainly am.
Logic will take you from A to B Imagination will take you anywhere (A.E)
- #2,832
- Dec 9, 2014 6:29am Dec 9, 2014 6:29am
- Joined Nov 2012 | Status: Trader | 5,895 Posts
{quote} Nice charts Dano12.. great effort.. thanks for sharing
) have the advantage over us,
- #2,834
- Dec 9, 2014 6:36am Dec 9, 2014 6:36am
- Joined Nov 2013 | Status: Made in Germany | 19,871 Posts
fortis fortuna adiuvat
- #2,839
- Dec 9, 2014 8:39am Dec 9, 2014 8:39am
- Joined Nov 2013 | Status: Made in Germany | 19,871 Posts
thanks everyone for the nice words.
wondering if this is a bear trap
wondering if this is a bear trap
fortis fortuna adiuvat
- #2,840
- Dec 9, 2014 8:49am Dec 9, 2014 8:49am
- Joined Nov 2013 | Status: Made in Germany | 19,871 Posts
fortis fortuna adiuvat