Thoughts on timeframe and scalability and extremes in business.
The right mindset:
If its not scaleable, its not worth doing.
If I can't put 20 million$ on this trade, I won't take it.
If I can't eat a lb of salt and not die, I won't eat an ounce of salt.
If I can't snort a kilo of coke in one sitting, I won't snort any.
If I can drink 4 gallons of water and not die, I'll drink water.
If I can eat 10 lbs of oranges and not die, I'll eat oranges.
If I would put my mother's ira account on this trade + my trading funds complete capital + OPM on this trade.
I will take it.
5 minute chart is not relatively scaleable.
day/week charts are.
Predictable factor , week chart > day chart > 240m > 5m
If I'm putting down 10 million, (would I look at a 5m chart?)
Some people would take large risks to make 100% , but on a $20k capital.
If you have a 2-3 million trading account.
8% profit per trade is $220k
I just have to pick my entries right, 10 times a year.
I don't have to blind myself staring at the screen 8 hours a day, I just have to be patient.
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Mistakes.
I can pike around for tick gains with the same trading method
( a good method works on all timeframes, in every country, in every market.) , but to lower the amount of decisions i make per year = lower the amount of mistakes/commission I make.
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The right mindset:
If its not scaleable, its not worth doing.
If I can't put 20 million$ on this trade, I won't take it.
If I can't eat a lb of salt and not die, I won't eat an ounce of salt.
If I can't snort a kilo of coke in one sitting, I won't snort any.
If I can drink 4 gallons of water and not die, I'll drink water.
If I can eat 10 lbs of oranges and not die, I'll eat oranges.
If I would put my mother's ira account on this trade + my trading funds complete capital + OPM on this trade.
I will take it.
5 minute chart is not relatively scaleable.
day/week charts are.
Predictable factor , week chart > day chart > 240m > 5m
If I'm putting down 10 million, (would I look at a 5m chart?)
Some people would take large risks to make 100% , but on a $20k capital.
If you have a 2-3 million trading account.
8% profit per trade is $220k
I just have to pick my entries right, 10 times a year.
I don't have to blind myself staring at the screen 8 hours a day, I just have to be patient.
=======
Mistakes.
I can pike around for tick gains with the same trading method
( a good method works on all timeframes, in every country, in every market.) , but to lower the amount of decisions i make per year = lower the amount of mistakes/commission I make.
=====================
