To be a successful trader, you should not ….
- Thread starter Tarzan
- Start date
Some of the tips are really good, but some of them are quite disputable.
In my opinion, if we combine the essense of the 1-4 tips and your experience, described later, we can make one single tip: never do the things that you cannot do. There are many traders who are good at trading the gaps. They just know what to do and which indicators to pay attention to. They also know how to make fundamental analysis in order to know how the price will behave after the gap. The other 3 tips can be explained the same way. So, what I want to say is that you should know what to do and how to do. If you are good at trading gaps, you should definetely use this opportunity, if you can trade while flat market, you should also take your chances. However, if you see that the current market situation is unfamiliar to you, you should either learn how o trade in these circumstances or avoid taking any actions.
As for the other part of your tips, I quite agree with them but they are too vague. I mean how to understand whether you overtrade or not. This gradation is too individual. Or never panic during the trading session. It is easy to be said and harder to be done. However, the direction of your thought here is clear and right.
In my opinion, if we combine the essense of the 1-4 tips and your experience, described later, we can make one single tip: never do the things that you cannot do. There are many traders who are good at trading the gaps. They just know what to do and which indicators to pay attention to. They also know how to make fundamental analysis in order to know how the price will behave after the gap. The other 3 tips can be explained the same way. So, what I want to say is that you should know what to do and how to do. If you are good at trading gaps, you should definetely use this opportunity, if you can trade while flat market, you should also take your chances. However, if you see that the current market situation is unfamiliar to you, you should either learn how o trade in these circumstances or avoid taking any actions.
As for the other part of your tips, I quite agree with them but they are too vague. I mean how to understand whether you overtrade or not. This gradation is too individual. Or never panic during the trading session. It is easy to be said and harder to be done. However, the direction of your thought here is clear and right.
unfortunately, it will not.
In fact, it will cause more confusion.
Why?
We trade differently. We have different styles of trading.
All of us have different experiences,
different expertise/competencies,
different way of thinking,
different values / beliefs / principles,
the different subconscious mind ...
To one person, it might be a problem.
to another person, it is not.
eg
Is high leverage dangerous? YES and NO!
Is chasing the market foolish? YES and NO!
Is trading premarket dangerous? YES and NO!
....... YES and NO!
You need more exposure, more experience to comprehend these.
As some readers have suggested,
should not post this thread under TRADING.
You should post it in your JOURNAL.
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repeatedly do this after lightning strikes . . .
". . . You can plan a pretty picnic but you can't guarantee the weather."
%%
Including but not limited to 2 ways to know you are ''overtrading''
1st] A well tested battle plan based on % + some other stuff.
Last] A blow up or a pattern of losses which continue..................................
100trades per day is not in my plan @ all but that'$ personal+ a market maker+specialist would do many more [I never did buy into ''best to be boring theory/LOL''; i enjoy research which is never boring also.]
