The Consistency Thread

Quote from easyrider:

Tuan Le is the best player out there right now, imho. He wasnt getting wishy washy, he was pushing when he was hot then tightend the reigns when he cooled off. I love to watch this guy.
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Very true. One thing the book "Reminicences of a Stock Operator" taught me (another story too painful to tell...) is when you "know" it, you got to go for it disregard what your wife said and when you "don't" know, tighten up and stay away.
 
Willingness to accept risk (and loss) = ability to make money
is inversely proportionate to the pain inflicted upon oneself. Keep persepective and don't be too hard on oneself.
 
Agree 100%. In order to get consistent, you need to see each day, for the whole day, and eventually, if your perception skills are good enough, you'll be able to identify bullshit setups from good setups (daytrading perspective). Knowing how your stocks or markets trade, all the little nuances and details, is a must.

Quote from Cheese:

Consistency: to have it in daytrading one must play the day .. the whole day. If you only do set-ups, that is saying, 'I only want to understand certain parts of the day where I will operate'.

What does that lead to? Only understanding certain parts of the day of course.

If what you do is successful, then fine: 'If it ain't broke don't fix it'.
If however the aim is consistency; the answer is, go for the whole enchilada.
:)
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Quote from Steve Tvardek:

Agree 100%. In order to get consistent, you need to see each day, for the whole day, and eventually, if your perception skills are good enough, you'll be able to identify bullshit setups from good setups (daytrading perspective). Knowing how your stocks or markets trade, all the little nuances and details, is a must.
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Good post. For me personally, this recquires being able to switch from fading to momentum based trading at the right times.
 
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