Tell me about your Uncle Point

[sgsaxton]

Quote from ElectricSavant:

It should be pre-determined..

Yes if things are predictable and linear, but there is no accounting for some eventualities and therefore it depends on ones circumstances.

 

[ElectricSavant]

It should be pre-determined...not discretionary...not to say that an early determination as illiquid brings out is not valid.

I just do not have a clue about these things..its not like I have traded a lot of edges...

Quote from sgsaxton:

Yes if things are predictable and linear, but there is no accounting for some eventualities and therefore it depends on ones circumstances.

 

[ImamicPH]

Quote from ElectricSavant:

It should be pre-determined...not discretionary...not to say that an early determination as illiquid brings out is not valid.

I think the point is that pre-determined stops aren't 100% secure.

Stuff happens. Ya know?

 

[illiquid]

8 years now, and my accountant is starting to get nervous.

 

[ElectricSavant]

I have been trading longer than you and do not know half of what you know...

Quote from illiquid:

8 years now, and my accountant is starting to get nervous.

 

[illiquid]

Doubtful.

Tell that to my index finger. I probably do less than half of that less than half.

The rest is just so I can be cool eLEETtrader!

 

[ElectricSavant]

Bullshit

Quote from illiquid:

Doubtful.

Tell that to my index finger. I probably do less than half of that less than half.

The rest is just so I can be cool eLEETtrader!

 

[sgsaxton]

Quote from ElectricSavant:

It should be pre-determined...not discretionary...not to say that an early determination as illiquid brings out is not valid.

I just do not have a clue about these things..its not like I have traded a lot of edges...

If you're trading a system, then I can understand where you're coming from. However the more discretionary you get them more variables come into play and therefore the issue isn't as cut and dry.

For instance, if I make 10% a month for the first six months everything is great but when I start to lose, then the doubt is multiplied ten fold simply because its discretionary.

 

[naz9403]

When you trade you can't think about the money or in the long run you will lose.

Dont get me wrong making money is the main reason to trade. But once you start thinking about the $$ you let the two traits that all people have hinder your performance.

Greed, Fear

Those two reasons are why people fail.

I don't care about the money i lost with a losing trade.

I care about being wrong and what i can do to fix it.

 

[sgsaxton]

Sorry my last example was very unclear, let me give it another go:
When I first started trading I traded a system. It didn't take me too long to figure out that some (alot) of my trades just didn't make sense so I stated to become a little more chosey about the trades that I took. Then really frightening things started to happen. All of a sudden judgment came into the equation and along with it self doubt. If I chose a system then I have to adhear to it without wavering. If it starts to fail, I need to recognize it and come up with another system. This could cost alot of time money.

So I'm faced with a choice: do I contine trading a system which will become obsolete at some point or do I take the other road and try and learn market structure. With the Structure route, I realize it takes longer beacuse the markets are finicky and what works one day may or may not work the next. Having said that the basic principles of fear and greed remain the same and the games that are played by those who have the power to do so become familiar.

Hmmmmm. Two roads, two choices and which do you pick? The system route at least gives you consistency at the start but the discretionary gives you longevity.
Neither is right or wrong, its just a different way of doing things.