Tips on the Mental Game
- Thread starter BobbiDigital
- Start date
emg is just another crackpot who blew up and has devoted his life to trying to figure out why and who to blame it on.
Sometimes it is not enough capital
Sometimes it is because you need to work for Goldman Sachs
Now his new thing is you need a really good degree
What's next?
All he knows is 90% lose, they just lose
Very good points. To me I think an experienced trader can get away with more small losses because they know how to ride big winners & size up more appropriately...
As a human myself, I began 'anticipating' setups. Why not - I can get a better price catching the entire move. Then I realized it's not a setup until you see it happen AND even if it does, chances are I've been knocked around a little bit and as a result almost always exit early.
I have noticed even more today how PA works. It can be as easy as A-B-C 1-2-3. Or maybe B-C 2-3??
You are fooling yourselfâ¦. And I wouldnât call it getting away with
You are correct in that experienced traders have small losses, then sit patiently while monitoring winners as they run and cover their losses..., and gain profit
You are incorrect thinking their small losses come from anything other than solid setups
Perfect setups, at times, will lose â as they must (itâll take some thought to figure out why â but it would be time well spent)
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Doubtful I can convince you otherwise⦠rest assured the marketâ¦, and time â willâ¦
Else they will break you
BD, every time you win someâ¦, but then lose more â it would do you well to recall this post Sir
I can assure you, with your current thinking - it is going to happen
Just one dumbass redneckâs experience⦠and nothing more
RN
make no mistake, I can't get away with it
that is good to know, and I appreciate the thought why good setups have to fail - very VERY interesting, more to ponder. my first thought would be the stock's beta. Market movements as a whole can trump individual patterns
that is good to know, and I appreciate the thought why good setups have to fail - very VERY interesting, more to ponder. my first thought would be the stock's beta. Market movements as a whole can trump individual patterns
Quote from BobbiDigital:
make no mistake, I can't get away with it
that is good to know, and I appreciate the thought why good setups have to fail - very VERY interesting, more to ponder. my first thought would be the stock's beta. Market movements as a whole can trump individual patterns
BD
Glad I didnât put you off with my last post
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Irrefutable fact
The market is uncertain; hence anything can happen at any moment
This does not mean it is random⦠it simply means it is uncertain
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That said, no amount of rules will make a perfect set up profitable 100% of the time (see above irrefutable fact)
Can setups be perfect â yes
Will perfect setups be profitable 100% of the time â nope
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A trader can trade perfectlyâ¦, and still lose any given trade (or series of trades)
So why exacerbate this â by trading anything less than perfect setups
RN
RN,
How do you feel about entering at consolidation in the appropriate areas? Seems vital for several reasons. If this is overly simple and a beginner question - perfect. Amazing how a once complex system of thoughts has simplified into common sense thru observation. As a follow up, are then measured moves based on an initial break?
I understand if this is too much. Feel free to rip into me anytime.
Quote from BobbiDigital:
RN,
How do you feel about entering at consolidation in the appropriate areas?
Seems vital for several reasons. If this is overly simple and a beginner question - perfect.
Amazing how a once complex system of thoughts has simplified into common sense thru observation.
As a follow up, are then measured moves based on an initial break?
I understand if this is too much. Feel free to rip into me anytime.
What are appropriate areas??? (obviously I would say absolutely yes to entering at the appropriate areas â if I only knew what they were)
And it depends on how one is measuring, a measured move - as to what it should be based on
Not giving you much to work with â am I⦠but then I could say â youâre not asking very specific questions
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I am of the opinion â unless price is making a new all time high/ low, then it is a range
Always trade the moves â whether they are back and forth, or are remaining in one direction for awhile
That is unless the back and forth moves are too small to trade
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Moves can be measured in time, waves, cycles, Fibonacci, price, distance/ ruler (recall NODâs 2 cm measurement
and don't laugh because it did work) â and a few others===========================================
No need to rip Sir, we're all learning - every day
RN