Said every degenerate gambler. Ignore the house odds. Running out of capital is the hot burner on the stove. It's meant to tell you to stop self-immolating.
STOP.
STOP.
The only post you need to read about trading
- Thread starter 1a2b3cppp
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Distilled to its simplest form Pattern based trading does not involve prediction. Prediction is something you are adding to the situation. Extra complexity that is not needed to describe what is going on. It is not the simplest or best explanation of what a trader who is trading off market patterns is doing.
I completely disagree, but that is ok. Like I said, I think it is semantics.
Goldman Sachs is not a trader, they are an investment bank that has trading desks. Big difference.
Incorrect. Any time you are reacting you are predicting that price is going to go where you think it is. Every entry is a prediction.
You are not predicting anything because the price has already moved. How are you predicting anything? Predicting is if you took a long position assuming it will go higher but, instead, it went lower? If I was reacting, I would be shorting it because the price action is showing me where it is headed! I am not predicting anything but, merely reacting. Huge difference in the two otherwise, why would you call one predicting and one reacting. Two different things as well as two different words! It "cannot" be the same thing!
Everyone, you are forgetting that most prop firms just average in until price reverses which means the only strategy is to pick a place where you think it's going to reverse soon.
Additionally, every time someone posts a thread like this you have all these people who come in like they know what they are talking about. I assure you that the people talking in this thread like they are masters are not winning hotshots.
I am fairly confident that winning strategies look more like this as opposed to most of the nonsense you read about on this forum. No one is predicting direction with indicators.
Additionally, every time someone posts a thread like this you have all these people who come in like they know what they are talking about. I assure you that the people talking in this thread like they are masters are not winning hotshots.
I am fairly confident that winning strategies look more like this as opposed to most of the nonsense you read about on this forum. No one is predicting direction with indicators.
I enter a profit order and a stop loss order with my entry, i have no idea which one is going to get hit first, i cannot ever seem to predict which one it will be. Over 60% of the time it is the one that is the opposite of my entry direction.
If anything i should be predicting it will go the opposite way to my entry!
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Trend trading.....where the op says it’s almost impossible to trade:
When I developed my edge, I merely attempted to look at an area price more likely than not stops at. Didn’t care how much profit I could get, didn’t even look at that actually. I just looked at specific scenarios where I could pinpoint where price stops.
Once I did this, I found out that when price moves a certain way, I could move my stops and minimize risk. And when price moves rapidly off my area, I’m looking to hold a runner. Tweak until u have positive expectancy and understand not every day provides worthwhile trading.
Make a set of rules, follow them, don’t make sh$t up while market is open.
When I developed my edge, I merely attempted to look at an area price more likely than not stops at. Didn’t care how much profit I could get, didn’t even look at that actually. I just looked at specific scenarios where I could pinpoint where price stops.
Once I did this, I found out that when price moves a certain way, I could move my stops and minimize risk. And when price moves rapidly off my area, I’m looking to hold a runner. Tweak until u have positive expectancy and understand not every day provides worthwhile trading.
Make a set of rules, follow them, don’t make sh$t up while market is open.
Now I get that the concept with trend trading is to have small losers, small winners, and big winners. Cognitively, I think this would be a superb way to trade. For you to know that you were never going to lose more than $100 on a trade but you might win $100 or $900 that would seem phenomenal.