ES Journal - 2012
- Thread starter Buy1Sell2
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Quote from JoshDance:
Thanks Macho -- I may be a bit lost, sorryAre you saying that your father was only trading what he saw, right at that time, instead of past data?
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Yes, but it is the condensed data at THE time. It is like when ammo shows us a variance in the uvol/dvol. That is significant to direction. It takes a lot for it to be reversed . So it is very useful.
You could live off that data alone with proper money management and risk control.
I started trading last year and what was drilled into me was risk control and its relationship to proper/adequate funding. i.e what does the pain look like with 5 consecutive losses in the strategy used. Top down analysis.
It saved my butt!! Even though I thought it might not happen. It can. But I found I could not apply that strategy satisfactorily ( and wasn't allowed to) and survive. So I went back to the drawing board and now found I am cool with what I am doing,living within the strict parameters set down.
Simpler and the Law of the Long Numbers are a better fit and less time on the computer,too.
If you have loss or a profit, it is NOT you it is the market reaction at that time. And you go onto your next trade when the opportunity is there.
But, please TAKE the next trade without any reservations. Get into a groove. It will build your confidence,even if it is a loss to a point
You will not get frustrated as you take every trade you see. You WILL get frustrated with the ones you did not take ,even if they are losses.Take the emotion out of your strategy.Hope this helps you.
Quote from Macho:
Yes, but it is the condensed data at THE time. It is like when ammo shows us a variance in the uvol/dvol. That is significant to direction. It takes a lot for it to be reversed . So it is very useful.
You could live off that data alone with proper money management and risk control.
I started trading last year and what was drilled into me was risk control and its relationship to proper/adequate funding. i.e what does the pain look like with 5 consecutive losses in the strategy used. Top down analysis.
It saved my butt!! Even though I thought it might not happen. It can. But I found I could not apply that strategy satisfactorily ( and wasn't allowed to) and survive. So I went back to the drawing board and now found I am cool with what I am doing,living within the strict parameters set down.
Simpler and the Law of the Long Numbers are a better fit and less time on the computer,too.
If you have loss or a profit, it is NOT you it is the market reaction at that time. And you go onto your next trade when the opportunity is there.
But, please TAKE the next trade without any reservations. Get into a groove. It will build your confidence,even if it is a loss to a point
Hope this helps you.
+1. Great post
And if I do, so do "they." You may want to loosen it just a bit...- Status