I can explain it only by video analogy. The sim market you are trading is the woman in the red dress. The agents in the video are the bits of your mind that will try to sabotage you. You, as Neo, must see through the matrix and do not let them scour your judgement. You'll see.
NumberZ Day Trading Journal
- Thread starter NumberZ
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I can explain it only by video analogy. The sim market you are trading is the woman in the red dress. The agents in the video are the bits of your mind that will try to sabotage you. You, as Neo, must see through the matrix and do not let them scour your judgement. You'll see.
Haha what?
You are talking about fear?
What has fear got to do with it?
Are you afraid when you trade? Afraid of what?
To lose?
it's only money. Not a fall on jagged rocks Hahah.
I've no time for your videos. I'm a busy man. I work, and I watch Brooks trading course.
explain plain or not. Whatever you want.
If you do not have time for a 2 and 1/3rd minutes video from me, but have hours to devote to Brooks, you may not fare well.
Explain it please. I read it again and it sounds like one is safe and one is dangerous.
You and Mr. overnight speak in riddles. Say what you mean and you won't have to be angry with me.
I don't understand how your analogy applies to SIM trading compared to live money trading.
It is about what is going to happen to your brain when you switch from SIM to live money trading. Something fascinating happens in the mind, as viewed from an objective perspective. Let's revisit the issue when you have finished your Brooks courses. Then it can be put more into context.
The difference between SIM and live with skin in the game is two fold:
1) Most of the time price is gonna have to trade 1 tick thru your price for you to get filled. So to make 1 point is usually going to mean a 6 tick move is needed. On a sim the 1 point can be made in a 4 tick move.
2) The psychological end. Sim doesn’t produce the same emotions (or at least not in the same intensity) as real moola does. That is why I recommend Yvan Byeajee. Brooks says just trade the “I don’t care” amount. I seldom was successful trying to do that. I have never liked losing EVER, not even a small amount. So I needed psychological help. Others need help with hope…greed…etc. I handle greed by “grabbing them profits fast” I can always go back in if price continues. Some traders get a good profit but are greedy for more and hold for more and more and suddenly that profit dissipates very quickly. They did not grab the profit the market gave to them wanting more and end up losing or settling for less. I get greedy by grabbing my profits fast as the market hands them to me. I can always go back in.
Take today with yada yada from Fed. I was going on that first big bar (not shown on the chart as I was out taking a walk. So I waited for several bars then on a confirmed BO (my long entry bar 13:10 bar I went long) and grabbed 5.5 points on the very next bar. The market gave them to me and I was quick to grab them. I got greedy so I grabbed them. I had to leave and go do some other work after the trade so I quit trading for the day. However price kept going up. Had I been here trading I would have been making multiple entries and exits probably up to the close of the session, grabbing them profits each time, and also compounding.
I am reminded of the little boy who approached a man with his hands closed. He told the man he had a really really fast bird and that he would bet the man 5 dollars that he would not be to grab the bird when he opened his hand. The man took the bet and got himself in position and ready. He told the boy “open your hands.” The boy opened his hands and the man snatched at his hands as fast as he could but all he grabbed was some bird poop. He couldn’t believe it as he never saw the bird fly off. He asked the little boy “where did the bird go?” The little boy said as he picked up the $5.00 “I don’t know where he went but I told you he was a really really fast bird. Bird done sh&t and gone.”
In markets that way. Profit then boom they are gone.
1) Most of the time price is gonna have to trade 1 tick thru your price for you to get filled. So to make 1 point is usually going to mean a 6 tick move is needed. On a sim the 1 point can be made in a 4 tick move.
2) The psychological end. Sim doesn’t produce the same emotions (or at least not in the same intensity) as real moola does. That is why I recommend Yvan Byeajee. Brooks says just trade the “I don’t care” amount. I seldom was successful trying to do that. I have never liked losing EVER, not even a small amount. So I needed psychological help. Others need help with hope…greed…etc. I handle greed by “grabbing them profits fast” I can always go back in if price continues. Some traders get a good profit but are greedy for more and hold for more and more and suddenly that profit dissipates very quickly. They did not grab the profit the market gave to them wanting more and end up losing or settling for less. I get greedy by grabbing my profits fast as the market hands them to me. I can always go back in.
Take today with yada yada from Fed. I was going on that first big bar (not shown on the chart as I was out taking a walk. So I waited for several bars then on a confirmed BO (my long entry bar 13:10 bar I went long) and grabbed 5.5 points on the very next bar. The market gave them to me and I was quick to grab them. I got greedy so I grabbed them. I had to leave and go do some other work after the trade so I quit trading for the day. However price kept going up. Had I been here trading I would have been making multiple entries and exits probably up to the close of the session, grabbing them profits each time, and also compounding.
I am reminded of the little boy who approached a man with his hands closed. He told the man he had a really really fast bird and that he would bet the man 5 dollars that he would not be to grab the bird when he opened his hand. The man took the bet and got himself in position and ready. He told the boy “open your hands.” The boy opened his hands and the man snatched at his hands as fast as he could but all he grabbed was some bird poop. He couldn’t believe it as he never saw the bird fly off. He asked the little boy “where did the bird go?” The little boy said as he picked up the $5.00 “I don’t know where he went but I told you he was a really really fast bird. Bird done sh&t and gone.”
In markets that way. Profit then boom they are gone.
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