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What language is that? :D

It can be "fall" instead. :) And the matter is not subconscious. It's the trader's mindset: measuring risk first. No emotions attached. Simply measure the R:R then if it's good, go ahead. :)

SS: I agree with you that trading is a great test for personality traits. And a great tool to improve those. So are many other things in life. But some are dangerous. Trading included. Of course I'm not saying one should avoid it, far from it. I'm saying one should watch for not getting killed...

From spiritual point of view any experience is "good" of course. But from conventional, that one which may kill is not. :) So there should be a "stop-loss" too. P. S. Gone for today, thanks for the talk.

One story before I go to bed. :) One of my best virtual friends, ET member and a good trader admitted that his relationships were broken due to trading (during the "learning curve" period). He became successful, but suffered from loneliness for like the rest of life. Last year he died. I will...

Well, I prefer not to talk in terms of "quitting". Any experience is invaluable if you know how to use it. Trading is great, that background helps me a lot in business. My initial point is just: don't get stuck at "day trade no matter what". There SHOULD be a "matter what". Your quality of life...

One "another" job you know: that is counseling and coaching. Another is I run a business of physical trade (auto parts). That one is especially great to compare physical markets with financial markets. Went into trading in 2005, classic retail way (forex account). No background (my degrees are...

My job and a "calling" so to say is find the truth, so I equally appreciate any opinion or information, critical included. Ironically, everything I do outside of financial markets made me understand financial markets better than ever and the way everything works too. But even more ironically...

Sure. I still trade, but shifted priorities from day trading only to much more omnifarious life.

I am saying one should first: realistically view one's chances of success via chosen way of trading. Second, see if that realistic expectation satisfies the needs. If not, realistically look elsewhere, within the industry or outside, it doesn't matter. One beautiful thing with goals is that on...

Well, I agree with you on Mandela. But there's nuance. Him, Jesus or Socrates were ready to sacrifice lives if needed for their ideas. Because they goals were noble and going far beyond their own well-being. We trade... well, for the money. So it better be a balance of what's on the "input" vs...

Sure. For example one may fall prey to cognitive biases starting from clustering illusion to something known under such a simple name as "wishful thinking". It may have to do nothing with childhood trauma or like that, but have a lot to do with random gratification. Trading in this sense is...

Could it be that losing money trading can be a result of false persuasions?

Hmm... would be hard to convince Surf that trade management is not random entries. :D

Got it, thanks! I assume those principles are valid for capturing certain swings within ADR as you said earlier.

I thought about any strategy because you said trade management is more important.

I fully agree with you regarding roulette. However, let's wait for clear explanation by RN first, likely some details are missed.

Very interesting thesis, RN, thanks for that. If you allow, another question: are those principles of trade management similar for ANY strategy or they can also be anything with the only rule of consistent application?

That's one great explanation of your view, thank you very much for putting efforts into writing that post. Did I understand it correctly: your point is consistency of applying certain rules is more important than rules themselves?

Your opinion matter a lot to me RN as you are far more experienced than myself. You basically say system is not relevant to profitability at all, correct? It isvery interesting as I seek for objective edges currently. If not the system, what provides the edge then in your view?