And in relation to the discussion earlier about stoplosses-
Yes stoplosses are important as they 1 of the ways you can exit a trade that you dont want to hold for longer than the time that you choose to let it get stopped out.
However you dont go on your computer every morning and sit there for 16hours per day staring at a chart just to ''workout how to only lose a medium size amount of your money ''!!
YOU TRADE COS YOU WANT TO MAKE TRADES TO MAKE MONEY, AND DONT WANT ANYTHING ELSE!
This is why i never ever do 'scalping', since people who trade like that are just comulsive gamblers, who have to much money so 'test' the market with small stoplosses, and so lose small amounts of money alot of times per day!
If you want to waste your money 'testing' market levels and getting stopped out regularly then please do, as its those peoples money that paid for my extravagent lifestyle for the last 9months!
However i would STRONGLY ADVISE everyone to stop worrying so much about what size your stoploss is....
And instead start focusing on-
WAITING, WAITING, WAITING,
SEEING WHAT LOOKS LIKE A GREAT ENTERY,
THEN TELL YOUR BRAIN TO SHUT THE FUCK UP AND WAITING LONGER AND LONGER,
AND THEN WHEN YOU SEE THE MARKET HAS COMPLETELY FUCKED ITSELF OVER AND SIMPLY CANT GET ITSELF ANY LOWER,
THEN WAIT EVEN MORE TILL IT COMPLETELY EXHAUSTS ITSELF TRYING TO GO LOWER...
And then you nail that trade and enter then as it starts to rise back up!
And then you just have to focus trying to hold as it shoots steeply and fast into profit, and resist the urge to cash in too soon!
Its nothing to do with 'picking tops and bottoms', since that phrase doenst even make any sense since theres 1000s of different timeframes of which every level is the top as bottom of that certain timeframe...,
Its simply-
Not being a twat or fool and jumping into trades just cos they look like they have a fair chance of moving in the direction that your betting in, but using a nice stoploss to protect yourself from too big a loss!
A ''stoploss'' is simply a word that was created by spreadbetting companies and is just a synonym for 'order to end trade in losing money'.
And while lots of people do like taking losses through this type of present automatic order instead of manually,
it is just 1 TINY part of trading ffs!
Its not what trading is about though! lol
Trading is about making money consistently.
It dont matter how you do it, where you do it, when you do it, dont even matter what you wear while doing it!
As long as you do consistently rake in the cash though thats all that matters.
And the best most effective way of doing that is 'Having extreme patience, waiting for ridiculously overdone moves, wait even longer till the reversal movement starts,
smash the market hard and fast with your trade the and only then,
and rake in the cash.
