Quote from gerry875:
what is EQ stuff?
anyway - when i first got in touch with trading - one of the most important things i learned was that a trader has to determine how much he is willing to risk on a single trade - in other words - how much is a position allowed to go in the wrong direction.
i try to ask again: i you open a trade (long or short) - and the market does not what you expected and goes against your position 1 tick - 2 ticks - 3 ticks - 4 ticks ... - when are you going to react? come on - this is as simple as a question could ever be.
or are you indeed trying to tell me that you are absolutely NEVER wrong - all your trades are winners?
For the EQ see attached.
When you were starting out you had an unfortunate experience.
Some strategies work on the principal of first doing A and, then, protecting yourself from the consequences of doing A. The way this is all done involves taking losses of some nature.
The alternatives to all of the above cover a whole spectrum that you have not been introduced to.
You chat in .....come on.....and..... indeed...land.
An alternative to the setting called "being in reaction" is a setting called "being in anticipation"..
The point in time for "being in anticipation" is a relatively long time before "being in reaction". their is a point in time in between these two. It is called NOW.
There is another factor. You may being doing entries and exits.
One altenative to trading entries and exits is to trade doing holds and reversals.
If two person were using different methods as above and were trading in the same market, you will find that the four things on the table: anticipation, reversal, -1,-2,-3,-4 and reaction, roughly occur in the order you just read.
All this says is that one trader is trading ahead of the other trader. The name of our approach for a trader is "front runner". The name of your kind of trading is same-side trader.
fornt runners trade ahead of same-side traders.
So there are two very different methods being addressed here.
Most of us know what you are doing and we take advantage of it all the time. Uou are just entering the trading world of front running. If you go back and speak with your early mentors, you should ask them about all the stuff that they did not tell you back then.
It is not a case of right or wrong. It is just different. The come on and indeed stuff you play with is telling us that this is new territory for you.
Look at the attached scanned chart. IQ is the vertical axis and EQ (Emotional Quotient) is the horizontal axis. An average person is in the middle. Notice that that cell is labelled failure.
There are a bunch of arrows on the chart that show you how people go from one cell to another. There is a key at the bottom that talks about this stuff.
I may give Stalker a reading on EQ in Swedish in a while.
... This chart needs to be cleaned up a bit w.r.t. volume.
Can someone explain this to me in simple language without too many difficult words and without writing a five page answer?