The One Thing That Changed Everything In Your Trading
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Quote from NoDoji:
Oh, yeah, one other big thing was RN saying to me over and over and over again, "Keep chipping away...", "Keep on keeping on...", "Keep pushing forward...", "You're almost there..."
Talk about perseverance!
And the day you closed your journal â I knew â you knewâ¦
RN
once you gained an insight or edge,your confidence level went up and you had something to build on...mine was learning to hand chart market profile on the spx in 5 cent moves,you all the sudden felt the rythym ,it only knows a few songs and after hand charting for awhile ,your hand told you what the market was going to play,that was so long ago and there are so many other beliefs piling up in the attic ,true and not so true ,that i doubt i will ever get that clarity back,but if you are just starting out, hand chart the spx and ignore all the teachings, lessons,just look at the chart and fill in the boxes
Another fishing expedition.
Two things. Most important was when I finally understood the significance and importance of risk management. I risk no more than 1.5% - 1.75% of my account in any given trade. Then, the other major breakthrough was when I stopped wasting my time testing systems and I got my hand on one of those programs that discover trading systems automatically.
Risk management (strict)
System developing efficiency (speed)
I have not become rich from trading but I never had a losing year and I will never have one because of my risk management.
Yeah I would like someone to say to your friend find a new friend. Because being a newbie he won't know that his so called friend isn't being open and honest with him and as DR pointed out he doesn't know what he doesn't know but ought to know. His so called friend thinks he knows but isn't telling so get a new friend !
You could save this newbie a lot of money and heartache so be a GOOD friend and tell the poor devil what he needs to know !!
Supposingly you know
You could save this newbie a lot of money and heartache so be a GOOD friend and tell the poor devil what he needs to know !!
Supposingly you know
[Proximo]
There is no 'one' thing that will change your trading. It's a combination of things.
All of them together (in sync) is what takes you to the next level.
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I agree 100% with the above. There is no one thing. That should be clear just by watching the market. While some are selling and or shorting, another group is buying.
For me, learning to follow the market or trend. Shorting was a big thing for me. Trying to not being too greedy, not being to fearful, and stopping the blame game, if I only did or didn't do this or that.
Stop listening to or looking for the gurus on TV for answers. Try to find a mentor who has been around for awhile and willing to discuss the action of that day or that trade. A phone call is well worth if you only learn one thing, because there is no one thing that will change everything. It's many things.
Don
There is no 'one' thing that will change your trading. It's a combination of things.
All of them together (in sync) is what takes you to the next level.
///////////////////////////////////////////////////////////////////////////
I agree 100% with the above. There is no one thing. That should be clear just by watching the market. While some are selling and or shorting, another group is buying.
For me, learning to follow the market or trend. Shorting was a big thing for me. Trying to not being too greedy, not being to fearful, and stopping the blame game, if I only did or didn't do this or that.
Stop listening to or looking for the gurus on TV for answers. Try to find a mentor who has been around for awhile and willing to discuss the action of that day or that trade. A phone call is well worth if you only learn one thing, because there is no one thing that will change everything. It's many things.
Don
