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"Fair and balance" at work !!

This is why I believe that psychology is "the" edge. Mental toughness is so important. It has to be developed, nurtured all the time, in any aspect of life.

I do not see a difference between a loss of 20% in one day or a loss of 20% in 6 months. It is a drawdown, in money terms. It is what to do after, which, for me is more interesting than to anticipate this rare event. Of course, I do not use margin, which is a way to avoid the big catastrophe...

Choad, buying dips, yes, but also selling the strength. In this current market, it seems to be working pretty well. To be very bearish or very bullish has not be very rewarding lately. As even more important in trading than in life, being an agnostic not a bad place to be.

Agree with Rito. The only thing we can (relatively) control is how much money we accept to risk on every trade. Then everything can happen, except losing more than planned. Obviously, this is more difficult in swing trades because of overnight exposure. But to limit this risk, I never have more...

I believe that as all other support/resistance levels, Fibonaci levels are points where something CAN happen. But, as there is no Holy Grail, it is only a CAN, in no way a certainty. Now if enough people believe something will happen at that level, it will actually happen. Many times, those...

It is obviously a difficult subject. The way it works for me is to use different systems, based on different timeframes. I have two swing systems (1 week - 2 days) and one day-trading account. The fact to have the two swing trading systems largely mechanical helps me to focus on the day-trading...

Right, Ripley. I believe that one needs to be very focused and sharp to trade intraday successfully and focusing on a very effective time frame is a pretty good way to optimize our trading results. It looks like too many people want to be in the game at all times, for fear of missing out or...

Hi Jenny, I agree with you that the "easy" money is made when the market is in full swing. It is my belief that the edge in the intraday trading business resides in the follow thru. I always assume that I am going to be right only 50% of the time but that my profits will be bigger than my...

The best thread yet I read. It is very refreshing to see people expressing themselves and , so far, no aggressive answers.

My biggest fear is not to be able to overcome my fears and let them manage my life (or my trading). As Gandhi said, "Fear has its use but cowardice has none. It is a struggle, but by making small steps, by daring doing new things, especially those things which are uncomfortable, I believe I am...

Difficult, or I should say useless, to give feedback on a prophecy. Why not Dow 40,000 or Nasdaq 5000, Dow 10,000 or whatever. Seriously, what do you base your call on?

Your points are valid, Spike. Don't you think , though, that the good developers could find the good traders to trade their systems for them? Also, knowing that trading a system is so much related to the psychology of the trader, trading a "black box" system from somebody else seems to be a...

Glad to hear that, that you are not trading your emotions. Never worked for me.

Never too good to be emotional about a stock, CrazyKarl. GM might fail, or may not, regardless what you think or hope happens.

I am with you Surdo, I have two brokers, two Internet connections, 3 computers, and one 30-minute supply power. Trading is difficult enough to minimize the stress of failure from technology.

I am always struggling with this question regarding "Black box" trading systems: why would anyone make public a very successful system, if not that the expected return from monthly fees is higher than the actual result of the system?

Happy customer of Trade Station here. However it is true that their customer service is slow but I think I called them once in one year (about the split with CBS shares) because I have no problem with the platform. In a way, I'd rather use a broker with bad customer service that I rarely use...

Bonjour, on parle francais maintenant. Depuis Salt Lake City, ou j'habite, je salue tous mes collegues francophones. Comment traduit-on trader en francais? Salut a tous et a toutes

Yes somebody went on the wrong side of the trade and is blaming the unfamous "newbies" for being stopped out, I guess. I am not sure that it was not a planned fake break up to attract buyers and then sell quickly. In any case, taking full responsibility for what happens to our trade is the only...