Trading is easy, very easy, damn easy

Quote from MrCharts:

They were lacking in everything that is required in order to keep the no. of losers at the minimum.

Whilst the approach to jumping on leaders and laggers can be profitable, it can still catch out the savvy trader as he/she is not limiting the factors that prevent losing.

The chart is of course the main component, but to rely of chart reading alone is like having a finger missing, and we can all imagine how cumbersome that might be!

Busy week ahead, but we will try and finish off the 10 trades and then discuss why the results were as they will be.

Trading is a mugs game really, but only if you let it be so.

Every successful outcome is dependent on adequate planning, serious consideration before action is taken, and swiftness in implementing the required actions - anything else falls into the chance category.

MC
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Lacking context…. Lacking everything….. hmmmmm now let me think…..

So if I follow – these trades had no context / no framework/ no box…., nothing which would provide a good foundation (way) to define, quantify, and identify - what we were doing, when we should do it, why we should do it…. or even if what we were doing - was the right thing to do to begin with – I see


And like all good craftsmen / craftswomen, who use frameworks/ boxes to build – umm ….anything…

I believe traders must also have a framework/ box in which to build a trade around – interesting….


But to build a framework / box – one must have tools – no???


So should I use – oh I don’t know.. let’s say – MACD, Stochastics, RSI, Elliott Wave, Fibonacci, Bollinger Bands, chart patterns, MA's, etc, etc, etc, etc – to build this box?


I suppose I could… but if in fact I used these – then wouldn’t I already be in a box (thinking wise)….

Because as most everyone else already uses these – and if I did what everyone else does – why then should I really expect anything different than what they’re already getting – Hmmmm…

I believe that is how some define insanity too – curious

And as I do so wish to be one of TFF – I can’t really rely on the many's way of thinking now…. Can I..



On the other hand if I wanted to build a proper box…, then first mustn’t I step out of the box (thinking wise) – objectively look at what I’m trying to identify, quantify, define… then build a box to that specification… why I do believe so


My – my how all this thinking has exhausted my one brain cell…..


So I’ll shut up for now (as it is the only time my ears and mind are truly open..., and I can relax my one brain cell) and ask someone to assist in helping me think this through – please



Btw MC – What is your thinking about my thinking Sir?

(Aside – One time one of my kid’s baseball coaches stated “Baseball is a thinking man’s game” – I’ve expanded that saying to include life… and trading - obviously…..) :p


Regards

RN
 
Quote from Redneck trader:



On the other hand if I wanted to build a proper box?, then first mustn?t I step out of the box (thinking wise) ? objectively look at what I?m trying to identify, quantify, define? then build a box to that specification? why I do believe so


My ? my how all this thinking has exhausted my one brain cell?..

Regards

RN
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Aren't we trying to identify, quantify, and define a high probability setup for a profitable trade?

If you have 'one' brain cell then I have 'half' brain cell which is also exhausted.

Happy Trading
 
Quote from jim2000:

Aren't we trying to identify, quantify, and define a high probability setup for a profitable trade?

If you have 'one' brain cell then I have 'half' brain cell which is also exhausted.

Happy Trading
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Hey Jim,

True – and I would bet no two traders define "a high probability trade" the same way Sir

(I see what I see... but do you see it)


I also think it would depend on ones comfort/ skill level – of being a trader – and trading (managing) through it



So

How high is high

How high is high enough

Rhetorical questions Sir – as no two traders are really alike


But always remember no matter how high – it is still just a gamble


Take Care

RN
 
Quote from Redneck trader:



But to build a framework / box ? one must have tools ? no???


So should I use ? oh I don?t know.. let?s say ? MACD, Stochastics, RSI, Elliott Wave, Fibonacci, Bollinger Bands, chart patterns, MA's, etc, etc, etc, etc ? to build this box?
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So other than 'price' what tools do you use?
 
Quote from jim2000:

So other than 'price' what tools do you use?
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Good question - but as MC's intent is not to help me - I defer the answer

I do not want to taint anyones open mind


I will say I build my setups on the fly, and use 5 different intraday trading techniques - depending on the market's personality

And seldom if ever intermingle the 5 - as that is a disaster waiting to happen

eta - To me they are tools - each tool has a specific use, and specific time to be used



RN
 
Quote from Redneck trader:

Hey Jim,

How high is high

How high is high enough

Rhetorical questions Sir – as no two traders are really alike


But always remember no matter how high – it is still just a gamble


Take Care

RN
More...
75% - 100%

at 1:2+

Risk:Reward ratio

Note: 2+ means "reward level of at least twice the risk, perferably more - up to 4 or 5 times the risk - but those trades are hard to hold.
 
Quote from MandelbrotSet:

75% - 100%

at 1:2+

Risk:Reward ratio

Note: 2+ means "reward level of at least twice the risk, perferably more - up to 4 or 5 times the risk - but those trades are hard to hold.
More...


So let me ask you...

How do you ever "know" either of those two?
 
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