Disliked{quote} I use 0.5% personally per trade. But this can add up quickly. Great comments!Ignored
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Disliked{quote} I use 0.5% personally per trade. But this can add up quickly. Great comments!Ignored
Disliked1% risk on 10pips sl, 5% risk on 50pips sl, 10% risk on 100pips sl, 30% risk on 300pips sl. When do we choose which to apply? or is it a standard rigid setting? Are they the same or they are not? Are these metrics maintained across all assets and under all market conditions?Ignored
QuoteDislikedEvery battle is won before its ever fought.
Disliked{quote} Perhaps, but let me, for those of us who are still learning, provide a brief summary and links to some relevant resources. First, as Sun Tzu said: {quote} In other words, you need a winning strategy. Until you have that, do more research, or trade demo or with minimal risk. Once you are confident in your method, and have a track record to evaluate, the natural question is "how should I maximise the growth of my account?" A summary of the maths of that can be found here: http://www.futuresmag.com/2009/03/31...ing-your-trade...Ignored
Disliked{quote} Great links medici, I think these are just what was needed at this stage of the discussion. Very important stuff!Ignored
Disliked{quote} I believe these deeper reasons have to do with our sense of purpose or mission. Are we trading just to make money, or do we have a purpose beyond that?Ignored
Disliked{quote} Perhaps, but let me, for those of us who are still learning, provide a brief summary and links to some relevant resources. First, as Sun Tzu said: First, as Sun Tzu said:
Quote
Every battle is won before its ever fought.Ignored
DislikedThe point I was trying to get across which is often overlooked is contained in medici's link - "The bane of stops is they can force you out of a position that initially goes against you but ends up moving in your direction. That's why most experts suggest using stops that fluctuate with market volatility. "I don't believe in fixed money management stops," Pruitt says. Overly constrictive stops, such as those many have employed in the volatile S&P 500 in recent years, will "deteriorate" systems, he says. A better way is to use wider stops as volatility...Ignored
Disliked{quote} I believe it is essential to have a purpose that goes beyond not just what you do, but beyond yourself.Ignored
Disliked{quote} Most of last week I traded, and for me it's usually late into the night. We have had perfectly clear skies and mild evenings. Usually around 11pm I'll walk outside into my backyard to get some fresh air and sit for a while. I look up at the sky full of stars. And it hits me, every time, I get dumbfounded as to how insignificant our planet even our solar system is in the universe, not only in size but time. And then I think of us on this planet and laugh at how caught up we get in our microscopic world. I mean we are but dust, what can we...Ignored
DislikedHere are six things to consider when taking a trade. Of course, no one is going to be able to run through a check list like this prior to pulling the trigger, as a pilot does for example before taking off, but these considerations should all be hard-wired into your trading brain well before you put on a trade, therefore it is not a matter of thinking at the time of taking the trade, it is a matter of doing based on this criteria - These are mine, so feel free to add anything. Is this an opportunity you have anticipated in advance, or it is it...Ignored
DislikedFor most people I think starting off with 4h or daily is an ideal choice. But once you train your eyes, and develop an understanding on flow of things. I think its safe to move down a bit or more depending on your risk/stress tolerance. For a new trader 30sec chart can be as nerve wracking as getting your tooth pulled out without an anaesthetic. If you're fortunate enough to have a mentor who trades a method that you think will suit you then I don't see any reason why you shouldn't start off with lower TF. But most people aren't. Strongtrader pretty...Ignored