Yes, pointing out that the bullshit you claim will bring a consistently profitable trader of several years down is something all traders had to overcome early on to in fact become consistently profitable in the first place is " ET zombie talk " Jesus, what trading monsters are you going to be warning him of appearing in his 6th year? A stop loss hit :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: ????
Day trading is losers game
- Thread starter oilfxpro
- Start date
Yes, pointing out that the bullshit you claim will bring a consistently profitable trader of several years down is something all traders had to overcome early on to in fact become consistently profitable in the first place is " ET zombie talk " Jesus, what trading monsters are you going to be warning him of appearing in his 6th year? A stop loss hit :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: ????
Definitely so. But in this game, you must play primarily offence and let the stop-loss (or some other way of risk management, built into a system) play defence for you.
It's a matter of focus. One shouldn't always focus on dangers of going impulsive or having a losing streak or whatever else like that. That would be like in my previous sample: driving a car and only thinking about possibility of an accident while doing so... Definitely NOT the ideal way to drive safely.
Focus on success, be logically aggressive, like pro athlete, pro poker player or ace fighter pilot. Focused aggression and deliberate practice makes you an ace, not fear of being defeated.
I got a bit emotional today and misplaced stop-loss (dragged it too early being greedy cause of 3 extra ticks of risk, duuuh), which resulted in a small loss instead of a good profit... Did it make me mad? Yes. I am very cruel to myself for making mistakes, especially such stupid kind of. Did I consider it a valuable lesson 10 minutes after and almost sure will trade BETTER from now on in my career, making everything to NOT repeat such a mistake and feel that pain? Also YES!
Daytrading is a skill where you can make boatloads of money..swingtrading is nothing but a fancy name for Buy and Hold until you crawl out of the hole you made for yourself. My grandmother can swingtrade blindfolded.
What is with all this canned crap man? Its almost quoted straight out of a book....
When I first started trading I could not leave a trade in profit alone and closing out trades in the red felt ridiculously painful, way out of proportion for the situation, I found a way to over come it that worked for me, using a demo along side a live account, placing several trades on the demo then one on the live, then back to demo, increasing my live trades as I gained control over my emotions eventually trading 100% live with the emotional and behavioural control I desired..then came the losing streaks and changes of market conditions...followed by a study of the situation and finding what's needed to get me though this stage, if that was a change of approach or a refuelling of nerves to continue as am, what ever..find what works...do it....
BUT HAVE YOU EVER TRADED A LIVE ACCOUNT? HAD A LOSE! A LOSE!!! THE SKYS FALLING!!!!!!
Yea, no different from professional sports or other highly scalable profession. Taleb stated it long ago: scalable professions have smaller chance of success, because they are very demanding (though it's better to say they are scalable, because they are so demanding and consequently only a few of those who try, succeed at it).
