PRINCIPLES OF GREAT TRADERS
- Thread starter Sekiyo
- Start date
These great traders have done the backtesting for you (Over +100 yrs). These are random guys trading with the same underlying principles and they’re legendary.
Now we might be able to find losers using these same principles. Which would indicate that there’s something more to it.
Hello MarkBrown,
THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU for saying this.
Nothing else matters. Emotions and principals mean nothing.
Now you are just making it more complicated than it has to be.
Cut losers!! When you enter a trade you know when you'll be wrong. Get out at that point. If you don't, then when? Now you're trading on hope.
Listen to price. You don't know what will happen next. Base your decisions on what the market is doing, not on what you think the market should do.
Let the winners ride. If you manage to get out at the top that's just shithouse luck. If price stops increasing then the ride may be over.
Manage emotions. The simpler you keep your plan the easier it is.
I'm aware there are a lot of yabuts. Most are based on FOMO. Keep in mind that there is nothing stopping you from getting back into a position you have just closed.
%%
True;
Insurance companies are good @ risk control.
They charge more for more than> 12,000 miles driven per year+ should.
They charge a bigger premium for younger, risk insensitive drivers + should
Some exclude guns + coins + much money from policy or charge more for thoseLOL
“What is most interesting to me about the breaking of the pound was the combination of Druckenmiller’s gamesmanship – Stan really understands risk/rewards — and George’s ability to size trades. Make no mistake about it, shorting the pound was Druckenmiller’s idea. Soros’s contribution was pushing him to take a gigantic position.” Scott Bessent, Inside the House of Money
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I am not that much professional but I listen to price and trade based on price action.
Then why get out in the first place?
Here is an example of an Algo - based on what I call - "True Price Action". It was developed to "Cut Losses" - "Ride Winners" - and of course by doing this - we can to some extent - "Manage Emotions".
The Algo has a "VERY LOW" Winning Percentage - which sounds BAD - but by "Cutting Losses" relatively quick - that is what can happen. Look at the following pictures - especially - "Total Trade Analysis" - please take time to really study it.
I just added the Algo Inputs. The Trading Hours can be set - along with Starting Capital and Margin. Notice I have the Margin set VERY HIGH - but it can be set per your Broker Margin Requirements. This particular Algo - can trade up to 4 Contracts - although I do have Algos that can trade in the Hundreds - but ONLY if you are Extremely Rich - or just Stupid - whichever fits. Long ago - in my early days of trading - I did the Stupid thing - and I never want to go back there again.
The Algo has a "VERY LOW" Winning Percentage - which sounds BAD - but by "Cutting Losses" relatively quick - that is what can happen. Look at the following pictures - especially - "Total Trade Analysis" - please take time to really study it.
I just added the Algo Inputs. The Trading Hours can be set - along with Starting Capital and Margin. Notice I have the Margin set VERY HIGH - but it can be set per your Broker Margin Requirements. This particular Algo - can trade up to 4 Contracts - although I do have Algos that can trade in the Hundreds - but ONLY if you are Extremely Rich - or just Stupid - whichever fits. Long ago - in my early days of trading - I did the Stupid thing - and I never want to go back there again.
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