ES Journal - 2019/2020

Status
Not open for further replies.
Pekelo said:
If you put on trades randomly, then yes. But if your strategy has a statistically significant positive outcome (could be as simple as going long in ETFs in an average year), that is literally not gambling. (when the outcome is pure chance)

The correct sentence is though: Every trade is a prediction.
More...

I agree 100 % with that view.

There needs to be a distinction between someone trading based on market knowledge and someone who doesn't. That's pretty much the difference between a newbie/amateur and a seasoned professional.

Further more - even with market knowledge and a sound methodology, a trader can still be prone to gambling, i.e., trading outside his method or ignoring his signals.
 
vanzandt said:
That wasn't a shot at you lol.
I was just laughing at the whole B1 thread in general.
My bad.
The "come on maaan"... is the latest political catch phrase. Biden's thing.
More...

Ah. Gotcha. I now recall the Biden phrase. LOL.

I was just curious if it was something in particular. I don't mind the watercooler talk or even off-topic talk, but it would be nice if this thread could keep it civil when people are in disagreement. :)
 
I think I'll take a jab at a light long here for a test of that 3500 level and see if we can get any traction above. Busy with other stuff this week, so just following the market casually.
 
formikatrading said:
Time stops can be a better option for some traders, depending on the types of analysis / signals they use. Sometimes I am fairly confident that the price will close higher or lower than the prior day but have no idea of the path that it will take to get there. In fact, on days when I have a strong daily signal which suggests a highly probable move for the next day, I often will get in at the end of the current day and then don't check the market until mid afternoon the next day. At a certain level, you have to trust your analysis and let the trades play out -- I have micromanaged way too many trades in the past.
More...
This is soooo true, especially with stocks that you know, and you know how they'll close the day if the spotlight has fallen on them for whatever reason. The noise in between is what gets many players.

Tbh that's why I always babysit most of my open positions all day. And even close them early when I have to leave. I hate stops, but they are a necessity in a way. There's always a chance you could be wrong. Its a fine line thats for sure. Plus if you don't set them... then it comes down to personal discipline, ie punching the button manually which for me at least is hard to do sometimes. Human nature to not want to admit you were wrong, and let it go beyond that mnemonic stop.
 
Status
Not open for further replies.
Back
Top