i am not sure that is true
unless the trades and the reason they were taken were explained in complete detail and everyone understands the explanation.
many profitable traders explain their method in books......does not help most
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a loser's journal......read at own risk
- Thread starter padutrader
- Start date
unless the trades and the reason they were taken were explained in complete detail and everyone understands the explanation.
many profitable traders explain their method in books......does not help most
Need to have wide stops
a bigger drawdown-wide stop-has to be accepted to trade in certain types of market conditions.
would be advisable to scale in....so the first position size has to allow for that.
tight stops may be used in strong trends and narrow channels, perhaps.
but there is no harm in using wide stops here too...they will never trigger if you are right about the trend
all my life i hated to put tight one bar stops.......but now i am doing it finally.
if some noise takes it out you do have the option to enter again.....
trading is all about keeping the head clear and cutting losses fast.....Valez and all the others is right about that
it is the only difference between a pro and a am.
trying to be a pro
having a simple specific plan
knowing what to do at certain times
waiting for those times and
executing and cutting losses
takes all the uncertainty out of trading.
i never did any of these
i am now
the results will be here
i am doing it for the many out there who dream of being a trader.
that it can be done simply........
the best profession in the world.
if some noise takes it out you do have the option to enter again.....
trading is all about keeping the head clear and cutting losses fast.....Valez and all the others is right about that
it is the only difference between a pro and a am.
trying to be a pro
having a simple specific plan
knowing what to do at certain times
waiting for those times and
executing and cutting losses
takes all the uncertainty out of trading.
i never did any of these
i am now
the results will be here
i am doing it for the many out there who dream of being a trader.
that it can be done simply........
the best profession in the world.
Last edited:
though i quote Brooks there are hundreds out there who preach the same things.
but you know how many people do what the preachers say !
https://screenrec.com/share/3iOYXKIGxs
https://screenrec.com/share/450t3FAY6x
but you know how many people do what the preachers say !
https://screenrec.com/share/3iOYXKIGxs
https://screenrec.com/share/450t3FAY6x
if you actually think it through what Brooks says is quite logical and simple
i think when you trading any method it is critical to list the reasons for the trade so that you can get out when those reasons are no longer valid.
most beginners do not know why they entered and so do not know when to exit and keep hoping for a favorable outcome .i know this was my case.
in this last trade i reversed because the bull breakout was a move out of a range and often times that reverses to the range or even beyond.
now,at many times the market may do many things and it is not possible to trade for all the possible outcomes....this is what makes trading so frustrating.
but all good traders accept this...accept this huge uncertainty and cut losses
most beginners do not know why they entered and so do not know when to exit and keep hoping for a favorable outcome .i know this was my case.
in this last trade i reversed because the bull breakout was a move out of a range and often times that reverses to the range or even beyond.
now,at many times the market may do many things and it is not possible to trade for all the possible outcomes....this is what makes trading so frustrating.
but all good traders accept this...accept this huge uncertainty and cut losses