Your trading results must still be important to you. Therefore my guess is you have not reached your ultimate trading goal yet. Which is to get to the point where your trading results are not important anymore.
Educators who Have Zero proof they even trade (99%) - wtf?
- Thread starter KCalhoun
- Start date
Your trading results must still be important to you. Therefore my guess is you have not reached your ultimate trading goal yet. Which is to get to the point where your trading results are not important anymore.
Maybe it depends on the person. If they have hit trading goal in life + some. They could still fragment through boredom or some life event. eg Want some excitement from trading because they have boring life. Although i would hope once you hit your trading goal you go on to enjoy your life rather than tinkering with your trades. {Dead dog context, If 1% stop loss of account is meaningless on a trade...lead to risk more, losing trade?? }/QUOTE]
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1st] 1% of account, on ''a '' trade could easily be too much for a weekly stop.
2] BUT assume that 1% is battle tested + say we know it is wise/battle tested. In that case i may give myself a choice, like QQQ for example, that daily move is ''0.7 %" So its 0.7%, not breaking my battle tested plan. Time stops are another way.; but thats in ETF context.
7.77] I gapped my numbers, not that most gap that % LOL.
8.88] Some times its amazing how when you exit, market turns a round soon/LOL. Scale out exit , or exit QQQ or exit half qqq+ keep SPY for example.
THAT 7 or 8% max stop on CAN SLIM has done better than smaller stops , especially when a 1% can chop\ slop profits way to much.
[Some times , may want to risk less, because gaps can go against profit/ even though most gaps help profit].
[7.77 again] Careful target shooting has some risk but really fun, thrilling; but its rule based/also, for many good reasons.,
I don’t think they can be overruled per se. They can be acknowledged, then one can turn ones attention to the patterns. The key here is “turning.” That is the skill that must be developed. Just memorizing patterns is not sufficient. Mindfulness is a skill that enables one to turn. But ones mind has to be trained to do so. In spanish they call it “plena atención.”
Every trade I ever put on, whether with real money or with SIM, there is always a jolt of emotion and a rush of thoughts. Trading is serious business. I have never blown an account but the few times I was approaching the redline was almost, without fail, when I was just trading nonchalantly, no concern…and with a “to hell with it” I don’t care attitude.
Trading involves a continual engagement of the mind, the emotions, both of which in tandem press their influence upon the actions taken. The mind and emotions can often times be correct and lead to profits. That is probably intuition. This ability to immediately understand something, without conscious reasoning, was likely developed through just seeing something happen so many times that the mind and emotions “see it” and press for immediate action without conscious reasoning. Kind of like what handle123 says. But by far, most profitable trades, for a discretionary trader, engage the consciousness. And as we all know both the mind AND the emotions are often times flat out wrong. They can deceive you as much as they can enlighten you.
A discretionary trader cannot simply “do away” with their emotions or thoughts. They will always be incessant in their presence in ones consciousness. It seems to me we can only acknowledge them and recognize them for what they are; just thoughts and feelings, then turn our focus and attention back to the task at hand.
Emotions will always be “screaming” at you. Whether they are right or wrong is not the point. The point is they are incessant and will fight for your attention like a bull
dog.
Ones mind is a thought generating factory that operates 24/7 relentlessly, and is always pressing for ones undivided attention.
Automating can reduce the stress created by thoughts and feelings but at the expense of experiencing and “living the life” live and rising to the challenges.
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I see what you mean;
100% sure emotions can be overruled. Its like my banker dad said '' i dont feel like going to work, but so what, we have work to do, so we go to work anyway anyway.''
My banker dad never put up with a dog that did not mind/LOL.
If only trading wasas easy as solving a dog problem.Ive been trading/investing for over 20+ years; so maybe patterns mean more/ with enough of them. Another way to solve a dog problem, community banker said he uses his shotgun.....................................................................................Great local banker\ he has no dog problem, no fighting dog problem for long
[Edit thanks for noting dog problem, if only trading was as easy, as solving a dog problem]
I had two particular trades go against me this week.
One was a penny position which I'd been holding for several weeks going nowhere so after evaluating it sold it, for only the same day go into trading, halt then double in price.
The other was a limit order on a stock to buy, I had adjusted the price down on a spreadsheet but overlooked to adjust it down with the broker, ie I had a buy @ 8c with the broker and recordered it as 5c on my spreadsheet. Yesterday I bought it at 8c for it to immediately fall to 5c.
How did I feel, I recall swearing at some unrelated thing with quite some emotion and thinking to myself, "yeah mate, you are pissed off bigly".
A few thousand dollars of fuckups I could have done without.
One was a penny position which I'd been holding for several weeks going nowhere so after evaluating it sold it, for only the same day go into trading, halt then double in price.
The other was a limit order on a stock to buy, I had adjusted the price down on a spreadsheet but overlooked to adjust it down with the broker, ie I had a buy @ 8c with the broker and recordered it as 5c on my spreadsheet. Yesterday I bought it at 8c for it to immediately fall to 5c.
How did I feel, I recall swearing at some unrelated thing with quite some emotion and thinking to myself, "yeah mate, you are pissed off bigly".
A few thousand dollars of fuckups I could have done without.
well said. you helped motivate me to grow a pair, dest ... no mo piker oddlots, i fcking crushed uvxy like a bug today
you rockand thx Baron for ET, great supportive community
final sell 600sh ah, rebot 200, very green day
%%I had two particular trades go against me this week.
One was a penny position which I'd been holding for several weeks going nowhere so after evaluating it sold it, for only the same day go into trading, halt then double in price.
The other was a limit order on a stock to buy, I had adjusted the price down on a spreadsheet but overlooked to adjust it down with the broker, ie I had a buy @ 8c with the broker and recordered it as 5c on my spreadsheet. Yesterday I bought it at 8c for it to immediately fall to 5c.
How did I feel, I recall swearing at some unrelated thing with quite some emotion and thinking to myself, "yeah mate, you are pissed off bigly".
A few thousand dollars of fuckups I could have done without.
5c-8c;
that could go sky hi or be a dead duck.
Dallas TX Fed official [Rich Fisher]said '' monetary policy is like shooting ducks get out in front of them ''
I doubt I'll ever get there. If my trading results were not important then I wouldn't be trading. The results of anything I put my hand to must be important or I wouldn't be doing it.
Grow that account, Caaaaaaaaal- --Hooooooooooun,
Average making four figures a day....then five figures....and Oh My....the SIX figures,