Trading the Plan

[studentofthemarkets]

Do you have one simple written down black and white concrete setup to trigger a buy or sell to enter?

I listed 6 in my rules. I like 5 of them. The 6th one I don't plan on using when trading live, but it is something I will work on in demo until I can be profitable with it.

I have been trading them for a couple years now but haven't been super precise with defining them until this past week.

 

[studentofthemarkets]

You only lose money if you sell at a loss.

Understood. BUT if you run out of money then you will still lose money because of a margin call.

 

[MacBookProHo]

You only lose money if you sell at a loss.

That sentence phrase...reminds me of Baron who is watching his crypto Bitcoin investment/trade fall by 60, 70, 80%.

Would you call that a complete failure trade, or only a temporary minor loss to a glory road of riches down the road?

No trade, or trader, should have to weather very ugly losses.
It's all about timing and understanding, not hoping and praying and ego and averaging up/down.

 

[Overnight]

That sentence phrase...reminds me of Baron who is watching his crypto Bitcoin investment/trade fall by 60, 70, 80%.

Would you call that a complete failure trade, or only a temporary minor loss to a glory road of riches down the road?

You do not lose until you sell at a loss.

You ever invest in a company like IBM by buying 100 shares, and watch them go below the price you bought them?

No? You have never done that?

Sorry, you are helpless.

Here, have some loons.

Nah, fuck that, that is too simple for you. Here. Ride your investment up and down, you looney.

 

[easymon1]

I listed 6 in my rules. I like 5 of them. The 6th one I don't plan on using when trading live, but it is something I will work on in demo until I can be profitable with it.

I have been trading them for a couple years now but haven't been super precise with defining them until this past week.

Would I be correct in interpreting your lack of a -yes to this question as a defacto -no?
Do you have one simple written down black and white concrete setup to trigger a buy or sell to enter?

 

[studentofthemarkets]

Would I be correct in interpreting your lack of a -yes to this question as a defacto -no?
Do you have one simple written down black and white concrete setup to trigger a buy or sell to enter?

Not at all. Yes, I do have one. And another one. And another one. And another one. And another one. A total of 5 tested black and white concrete set ups.

 

[easymon1]

Not at all. Yes, I do have one. And another one. And another one. And another one. And another one. A total of 5 tested black and white concrete set ups.

Do you have an error log?

 

[studentofthemarkets]

Do you have an error log?

No, I don't. What exactly is an error log? Operator error or error for the trade not working as expected?

 

[easymon1]

What exactly is an error log? Operator error

Knowing something and internalizing something are two different things. It helps to keep score in an error log not to rag on ourselves but to be aware of the trading errors we make and remedy the situation in a timely fashion. e.g. Missed trade, late entry, early entry, mut(made up trade), etc, simply posting to our error log is basically all it takes, but if not, you can tally them up weekly and deal with the worst offender first...

 

[studentofthemarkets]

Knowing something and internalizing something are two different things. It helps to keep score in an error log not to rag on ourselves but to be aware of the trading errors we make and remedy the situation in a timely fashion. e.g. Missed trade, late entry, early entry, mut(made up trade), etc, simply posting to our error log is basically all it takes, but if not, you can tally them up weekly and deal with the worst offender first...

I like that idea. I do keep track of my metrics through the platform statistics, and I'm journaling every day about what went right or wrong, but tracking the statistics for each of the 5 setups I use is not something I've done other than observing the behavior as part of my regular journaling. It would be helpful to have a log dedicated just to errors as well as a way to track the errors of each method for ranking them.

Thanks!