Most Difficult Trade

[athlonmank8]

Bias

 

[ammo]

Quote from Redneck:

Could that be because on the floor – you’re surrounded with like minded people, and able to talk shop (air it out as it were)

Being retail – we’re left with our thoughts, a computer screen, and this forum (at least in my case)


Never been there (the floor..., or a prop shop) – so it’s only a guess on my part

And I can relate to a big family - 13 siblings

RN

yeah ,idle mind, all day alone in front of a screen,gotta point

 

[ES.Dreamer]

I trade all setups.

My job is to take my signals, there is no hesitation.

You either believe in your ability to consistently read the market or you don't,

ESD

 

[deaddog]

My most difficult trade is always the next trade.

 

[Pinozi]

I wish I could split the vote between after a couple of losers & bias

 

[bighog]

A most difficult lesson to learn in beginning but a "MUST" learn one.

http://www.youtube.com/watch?v=07okiZ8c2ws&feature=related

Winners, not losers. Someone else said: Don't cut down your flowers and keep the weeds

 

[RCG Trader]

My most difficult trade is always the first one of the week. It's funny, but after I take a loss or two, I seem to settle in.

 

[Scataphagos]

That's where discipline comes in.

If you're having a bad streak, it's usually because (1) your bias is wrong, or (2) stops are improper... either too tight or not placed at most reasonable place for the charts.

 

[austinp]

Quote from bighog:

Many bars were flopping around with 30 ticks without any rhyme or reason. Mere mortals that try to bar trade that will be chopped liver before the day is over. 35 tick stops just are not gonna geter-done-bubba.

Nothing greater than a -10 tick initial stop for CL is necessary. If -10 cents won't hold, chances are good that -40 or -50 won't either. It's all in the key entry points identified and taken

**

My toughest trade used to be going with an opening gap instead of expecting the eventual close = looking to fade. Now if there is a slight price move towards the gap and signal to enter going away from the gap, I just take it without emotion.

The style I trade has no directional bias... it is direction neutral. The better I get at adhering to what price tells me, the more money I make.

Funny how that works

 

[Scataphagos]

Quote from austinp:

"... The style I trade has no directional bias... it is direction neutral. The better I get at adhering to what price tells me, the more money I make.

Let me challenge this statement as a point of logic.

What trade can you have which has "no directional bias"? Even if all of your trades are spreads, you betting on the spread to narrow.. that is, one side is "out of whack" in terms of value and you're playing it to correct to proper value.

I say there is ALWAYS a bias in a trade.... even if it's just a short-term one. Stated differently... if I "go long at support", my bias is for a bounce. If I "go short at resistance", my bias is for a dip. If I "chase a breakout", my bias is for that move to continue for a while, at least.