CL Journal
- Thread starter Buy1Sell2
- Start date
The one person I referred to isn't a gambler, categorically no. Most are gamblers yes.
Weekly chart + extra slow MACD, Buy1Sell2 I know from years back wouldn't be a buyer here, something's changed & I can't put my finger on it. Maybe it's a different person behind the mask...I dunno.
To me it looks like we are set to re-visit $26 area. Time will tell.
Agree! Doesn't matter whether profits are big or small, they need to be in proportion to losses.
I've tried for big profits, unfortunately the market doesn't allow for it 99% of the time.
So you take what is available, when available, if you are forced into a shorter profit timeframe, then losses need to be too.
I'm a gambler, I don't bother with anything other than taking a number of punts, some win, some lose, I'm here trading purely to make money any which way possible where I see an opportunity within the limited scope of my ability.
I have no hangup or complex being called a gambler, but I think many on ET think have a complex on this terminology.
If you want to go fancy, call me a professional gambler, because I pay tax on winnings.
I have no hangup or complex being called a gambler, but I think many on ET think have a complex on this terminology.
If you want to go fancy, call me a professional gambler, because I pay tax on winnings.
It's not the market, but the way you set your stops. If you bank on a double bottom your SL has to be below reaction lows of that DB & then you have to just hold your position. It's as simple as that, though most find it very hard to do, due to fear & greed.
It is correct that target ought to be in relation to your SL, I do not dispute that. That's why I am not in favour of trailing stops, it locks in partial profit in relation to your SL, making your gain much smaller at times than what it needs to be, then comes a losing trade and puts you into red. 1 win has to offset at least 2 losing trades IMHO.
For me its not stops, I hold no stops, its the trend, when that ends (or believe it is ending) I exit.
But you May be wrong seeing trend change, it's personal perception vs fact, perception when you think a trend has ended and fact is when low caves in.
Price a lot of time oscillates, always in fact, shaking out weaker hands, whereas reaction lows represent facts, if they held you gotta hold and expect the average range expansion based on your research.
I may be wrong on entries, wrong on stops, wrong on trend, wrong on position size, wrong on method, wrong on holding period, wrong on a large number of things.
It's a stupid discussion.
No point justifying anything other than are you having fun, are you making bank.
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