I been trading for thirty years, I am numb to profitable trades, and if I applied rules to losing trades, no big deal. Only time I feel uneasy if I broke some rule, everyone does that when trading manually. That is why automated methods work well, takes the human factor out.
I have done literally over 150,000 trades so far in my time. I concentrate on having fifteen percent or less per week on losing trades and not on concentrating on huge profits. That means many Breakeven trades or making one tic or a few cents.
I have trained myself not to allow other people know whether I made money or lost it, it is just a job. I look at trading as I am a Walmart store, occasionally take back returns (losses) but overall I sell to my customers (my profits).
I know my stats extremely well, I know how many losing trades in a row in last 100/1000, tells me when to double up when I reach limits.
It is all about experience, can you follow your rules, have you tested your method over several years of data. Most of the people who first take up trading don't put in enough time. And if you can't be profitable 13 out 15 days in simulated day trading, you have no business of going to real time trading as the stress adds up and you will make mistakes. Trading is a business.
I played Blackjack long ago, and I seldom had losing weekends in Vegas, I made it into a business. I practiced for six months a few hours a day till I was perfect, did I think that was gambling, no.
But once you treat card playing or trading as something else other than a business, you will lose.
Maybe one of the reasons why so many do so poorly in trading, they should learn how to manage a business first.
I have done literally over 150,000 trades so far in my time. I concentrate on having fifteen percent or less per week on losing trades and not on concentrating on huge profits. That means many Breakeven trades or making one tic or a few cents.
I have trained myself not to allow other people know whether I made money or lost it, it is just a job. I look at trading as I am a Walmart store, occasionally take back returns (losses) but overall I sell to my customers (my profits).
I know my stats extremely well, I know how many losing trades in a row in last 100/1000, tells me when to double up when I reach limits.
It is all about experience, can you follow your rules, have you tested your method over several years of data. Most of the people who first take up trading don't put in enough time. And if you can't be profitable 13 out 15 days in simulated day trading, you have no business of going to real time trading as the stress adds up and you will make mistakes. Trading is a business.
I played Blackjack long ago, and I seldom had losing weekends in Vegas, I made it into a business. I practiced for six months a few hours a day till I was perfect, did I think that was gambling, no.
But once you treat card playing or trading as something else other than a business, you will lose.
Maybe one of the reasons why so many do so poorly in trading, they should learn how to manage a business first.
