something for the 1% of you that aren't imbeciles. Y Scalping is hard
- Thread starter stock777
- Start date
very observant 77
which is better..work 2 hours per day or work 6 hours per day..for the same money?
That was one of the best articles I've read, I can't wait for the book to come out.
Scalping aka market making is low variance trading.
The only other alternative is directional betting which is very high variance.
The brain can handle low variance trading a lot better than high variance trading.
But the brain can't handle trading all day long.
I intuitively realized the decision fatigue was harming me a long time ago so I end most days as early as possible - as soon as I hit my profit target for the day.
I like to shut down early and lock in decent gains and lock in a disciplined day.
Scalping aka market making is low variance trading.
The only other alternative is directional betting which is very high variance.
The brain can handle low variance trading a lot better than high variance trading.
But the brain can't handle trading all day long.
I intuitively realized the decision fatigue was harming me a long time ago so I end most days as early as possible - as soon as I hit my profit target for the day.
I like to shut down early and lock in decent gains and lock in a disciplined day.
Quote from SnakeEYE:
''Afterward, all the participants were given one of the classic tests of self-control: holding your hand in ice water for as long as you can. The impulse is to pull your hand out, so self-discipline is needed to keep the hand underwater. The deciders gave up much faster; they lasted 28 seconds, less than half the 67-second average of the nondeciders. Making all those choices had apparently sapped their willpower, and it wasnât an isolated effect. It was confirmed in other experiments testing students after they went through exercises like choosing courses from the college catalog."
hahahaaaa..
lol... yea.. reminds me of the Salem witch trials...
"we will drown you so that you can prove your not a witch/have discipline"
"if you come up for air/cut ur losses when getting out is good-- your a witch/you suck at trading"
"if you drown/margin call-- your not a witch/have good discipline"
amazing article.
It touched a point that is very close to home about food being fuel. its surprising how many people do not realize that.
being a fitness fanatic (not a health nut) i am amazed how little people know about effects of different foods on your body. Just by simple self-observation (if too bored to study) you can find out many things.
Great post.
It touched a point that is very close to home about food being fuel. its surprising how many people do not realize that.
being a fitness fanatic (not a health nut) i am amazed how little people know about effects of different foods on your body. Just by simple self-observation (if too bored to study) you can find out many things.
Great post.
Yep. Used to trade US session, while I live in the UTC+7 time zone... To say it was hard is nothing. Most likely no coincidence that I got much more successful when switched to trading European session mostly.
Would probably be even better to trade Asian markets, but didn't found any which I would really like as much as the Euro.
P. S. Great article indeed.