As a consistent profit day trader...

Fonz said:
I am a discretionary trader and I will give you an honest answer:


I check all my trades afterwards and I look for perfection.
More...
What are you looking for?
My reviews are simple. Did I follow the plan?
If not why not. I can never find a good reason so for the most part I stick to the plan.
 
volpri said:
Umm I know several pros who made stupid trades. Some are some REAL BIG stupid trades. Pros certainly aren't perfect and I have yet to find one who ALWAYS executes according to their "proven system." They are skilled humans but because they are human they will sometimes fail and not follow their plan. All pro athletes screw up sometimes. Even the exchanges screw up...:D We live in an imperfect world with imperfect humans filled with uncertainties. It is life!
More...

I think the understanding is that no one allows stupid trades as part of the system, but we all know stupid trades will happen and when you know it is stupid, you get out. No?
 
schizo said:
In order to be "disciplined", I believe you first need to define what that means. For many people, it's more or less a blanket term that they use blindly. Merely getting your ass out of the bed to trade in the morning can be considered as a discipline. But more rigorous form of disciple requires rules that are time tested IMO.
More...
A disciplined trader follows their rules!!
 
you know it was stupid when it goes against your stop loss

Been there
Done that
Happens all the time...the trick is mitigation
 
schizo said:
So is following bad rules considered disciplined? Isn't that why you make stupid mistakes and yet are oblivious of why?
More...
I only follow rules I made for myself so if they are bad rules I'm still disciplined.

I guess if you don't learn from your mistakes you're doomed.
 
Big AAPL said:
you know it was stupid when it goes against your stop loss
More...
No. That kind of thinking is stupid.

Hitting your stop loss tells you are wrong, not stupid.

Difference.

Wrong about what you thought would happen with trade, but right in following what stop tells you.

Doubly stupid would be ignoring what your stop is telling you.
 
You must log in or register to reply here.
Back
Top