Are you one of the best in your field?

Steve,

I'd love to discuss risk management with you the
staples guy from the office space psychopath.


But I'm afraid you might start thinking I'm getting mad at every single comment you make.

" Are you getting mad? "
"Are you getting mad now? "
" You are mad now, take a breather"


Oh yes, I'm shivering here. very scared.. very mad , grrrr:<
:mad: :mad: :mad:

hahahahahhaha



If you want to discuss about risk management, post another thread,
If I feel the need to comment on your amateur 8 tick ES stop lost I will do so.


If you are not the best at anything, just don't post anything, its ok , We aren't getting mad :D
 
These personal attacks should stop. It would be much better if this board had a fun-lovin atmosphere for all to enjoy and benifit from. I just dont see what benifit anyone gets from attacking others. If someone whats to come on here a lie about they're trades, they're only lying to themselves. Lets all post in friendship to your fellow trader.

What do you all say???
 
i do daytrade, i am a scalper, and i could care less about the answers to those questions.

i am all for a person knowing how their product trades inside out. if knowing that type of stuff helps you then great. people make money all kinds of way.

i just disagree that knowing those answers is somehow essential to risk management. i think of myself to be excellent at managing risk without knowing that stuff.
 
Aiming to be the best at anything (which is totally different from doing your best) reeks of ego and often leads to disappointment and ultimate demise. Having thoughts in your head of being the best saps you of vital energy and blinds you to many opportunities that are present. Another way of approaching it would be to give whatever you’re doing your fullest attention as if it were the most important thing in your life at that point in time, or even approach it with the care and attention that you would if you were doing it for your mother or someone else you truly love. You need not be the best at anything to be truly happy and successful.
 
I hardly think being the best at cleaning offices is something that would make the average person feel really great...:D

There needs to be a balance in a persons life between feeling good about themselves and feeling like a failure. Most of us are fine in that department simply because we know full well only a select few ever get to the top in any profession.

Years ago when in the Army i said to myself: This is not for me.....:p Could i have made it to general? Probably not, could i have made a nice career out of the service, probably. We all make choices, some mistakes are made along the way also. These days within a mature economy rather than a growing less mature country some choices are forced upon us, the strong move on, the weak have difficulties. When i was a young lad if a loser felt washed up he/she flushed themselves down the toilet, these days the losers feel obligated to ruin others families as revenge for their own failures. The reason they probably failed in the first place was because they failed to take responsibility for their own actions.

May we all have a good new year and have some fun also....:)
 
Lil D

I am a fun loving guy. I am fun loving and friendly. I do have a slight problem in that Cool Whip is such as easy target. If I want to get in his head, its just not very difficult at all, and sometimes I can't resist. Sorry.

On the other hand, I do like to help with good info. For my own trading (daytrading) I use a set of risk management rules that never vary. I tested, and studied my market(s) and I learned that using them changed me from basically a breakeven trader to a profitable trader. Thats how much difference a good risk management system can make.

I would like you all to do well, but ultimately, I have to admit taking some pleasure in seeing CW and others flailing around like fish out of the water.

Here's the bottom line from my point of view. You don't need risk management to get in, anyone can "point & click" but once you are in a trade, you need it to get out (consistently) with a profit OR with the smallest possible loss. You seem like a smart person. Check it out for yourself.

Steve
 
With out a plan , where do you know your going?
If you trade where do you take a profit, where do you take loss?
With any risk mangement; A fool a his money are sure to separated.
As far as being the best in your field. Sure being second is not bad if your making a great living at what your doing, BUT the reason you got into the field was because you wanted to be the best. Right?
SteveH
 
steve46 I agree with you about risk management... its been my mantra since i first came in this board. I can never emphasize enough about it. Proper risk management can keep a sapling trader alive in the mkts... and if not practiced can make a trader like Jesse Livermore.... well you know.
 
its as if you think i am advocating no risk management at all which is totally false. it is essential to any trader being successful.

but it can be done using simple rules such as: never losing more in a day than you can make or never taking more than a __ tick loser and so on.

i know the importance of RM. but advocating your brand of RM as something everyone should know and if you dont then you're an idiot is just wrong.
 
Quote from steve46:

After your market opens, what is the average length of line of the first move? When (at what time during the session) does your market usually correct or consolidate? What is the size of the average consolidation? How do you differentiate between a retrace and the next leg or swing move? At what time during the day is your market likely to move more than 2 points. How do calculate your max stoploss? Do you always keep your discipline and stop out, or do you use discretion and hold from time to time?

Steve
More...

I would think these points are fundamental to any strategy... I don't think I could honestly take anyone seriously when they do not have at least a "rough" answer to all these questions. In any case, most of these questions are easily answered if you watch a market enough - if you sit there and watch all movements for 6 months, the answers should be second nature.

The again, if you've been watching a market for six months and do not have answers to these questions - then you are as useless and dumb as they come.
 
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