Only bad traders

Nothing to be ashamed for sure and you are most welcome here to post whatever you like. Be it charts, ideas or a joke you heard from a guy slicing meat at the deli.

I've read the book.. twice.

In my opinion I believe that book is probably one of the most overrated books in trading. Mark Douglas could have written the whole premise of the book in 3 pages or less. The rest of the book is him telling stories only acting as filler for his book.

And I never had any intention of taking profit or locking in profit. This thread is more about changing the way I look at loss.. err risk. On a side note, honestly I am a very closed minded person and not open to new things, to which also another goal of this is I am reading what others have to say multiple times and trying to put myself in their thinking, but this is has to do more with my personal behavior rather than my trading behavior.

If changing your attitude towards losses is your goal try reading up on how great traders do it. Ed Seykota once said that a good mental strategy would be to celebrate your losses.

Perhaps, but when I first began it was only a game to conquer. I did not know about the emotional side because it wasn't real yet. I realized that entering the market was easy. The exit point was the hard part. It was only hard though because I was reading about how other people traded, and they are basically clueless. Now, I realize that not knowing the exit is probably what drives the emotion. You spend logic to calculate the entry, but revert to feelings to know the exit.

I do not know how to trade lines really. I ignored that technique because the exits seemed to be made up. How do I know which line to exit on? No one has any idea. So, it opens up emotional choices cause you start gambling. You can see the breakout for the entry, but there is no breakout for the exit. Since I do not know anything about that technique, then I would assume your best exit is to wait for the next breakout, but because of the emotional control of the trade, and all I have read on forums, I don't think anyone is trading like that.

For me, since initially it was just a game, like chess, I developed a way to measure relevant areas of the grid where price was contained. Then I developed methods of measuring momentum. When momentum slows at containment, the trade is usually finished. Then simply trade the other direction until once again momentum slows at price containment. That is how nearly everything in the real world is measured, but for some reason, and actually I know why, no one does it for trading. Why? Lack of skill.

How does a company know how many products it can produce and how many employees it needs to do it, and what they can pay each person for their work? It is the same formula I use for trading. I can see the points where price cannot go any higher or lower and make trading decisions there. It is all based on the same probability methods that every successful business in the world uses. Again, trading though is full of people who have no training, don't want to get the training, but want to be successful, like betting horses, or red/black, or playing poker. But, really, trading is nothing like that. It is actually very predictable if you use the right tools.

Good Luck to you!

You need to take a teaspoon of cement. You know that even adopting the Costanza Principle that nothing is going to keep you away from the steady rhythm of San Quentin. Face it....harden up and practice the following mantras to prepare yourself.

Would youote=dkrock;8492425]{quote} Perhaps, but when I first began it was only a game to conquer. I did not know about the emotional side because it wasn't real yet. I realized that entering the market was easy. The exit point was the hard part. It was only hard though because I was reading about how other people traded, and they are basically clueless. Now, I realize that not knowing the exit is probably what drives the emotion. You spend logic to calculate the entry, but revert to feelings to know the exit. I do not know how to trade lines really. I ignored that technique...[/quote]</p>

Would you mind sharing , where you look for the momentum, on what timeframe....maybe a chart....would be interested if you have time....thanks.

bad trader on board..im beyond bad, im brutal, ignorant and ruthless, as the market did to me ...