I'd like to become a better trader
- Thread starter PO
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Quote from Best Looser:
Vol, thanks for the book, btw, big respect for T-day theory
As far as my name, 'Best Loser' doesn't have a negative connotation at all to me. Quite the opposite, to me it means that it's ok to take a small loss, to accept losing as an essential part of the game, so the name is meant to do exactly what you said - to affect my actions indirectly.
Phantom of the pits said - "Trading is a losers game and not a winners game. He who loses best will win in the end. "
I'm trying to change the way I look at my trading from focusing on making money first, to, first, focusing on how I lose money: to losing small , to accept losing as part of the game, to lose correctly, don't average down, to not be afraid to take a trade because I may lose.
does it make sense to you?
All of that is covered in the pdf book in my previous post.
P.O.P is a great one as well.
How bout DEMTDAYBOYZ ?
Quote from Best Looser:
Vol, thanks for the book, btw, big respect for T-day theory
As far as my name, 'Best Loser' doesn't have a negative connotation at all to me. Quite the opposite, to me it means that it's ok to take a small loss, to accept losing as an essential part of the game, so the name is meant to do exactly what you said - to affect my actions indirectly.
Phantom of the pits said - "Trading is a losers game and not a winners game. He who loses best will win in the end. "
I'm trying to change the way I look at my trading from focusing on making money first, to, first, focusing on how I lose money: to losing small , to accept losing as part of the game, to lose correctly, don't average down, to not be afraid to take a trade because I may lose.
does it make sense to you?
It's only one o in losing btw.
If you understand that losing is a part of the game and you want to become good at taking small losses, why did you pass on a signal after a winning trade because you were afraid of losing money?
P&L for today +$614 = 4.25 point per contract.
Only 2 trades today, one a scratch, second 4.5 points.
Good thing - stayed away from being chopped up in a congestion.
Bad - missed 2 good trades because of fear of losing money. I think I have a short bias now, I find it easier to take short set ups then long set ups. I need to be and equal opportunity trader and get rid of my short bias.
Rally into payroll numbers has a high prob. of selling off next week, it can start tomorrow.
Only 2 trades today, one a scratch, second 4.5 points.
Good thing - stayed away from being chopped up in a congestion.
Bad - missed 2 good trades because of fear of losing money. I think I have a short bias now, I find it easier to take short set ups then long set ups. I need to be and equal opportunity trader and get rid of my short bias.
Rally into payroll numbers has a high prob. of selling off next week, it can start tomorrow.
