Quote from Buy1Sell2:
The life cycle of the trader is extremely important. If you are attempting to live on the income, then it must be higher than if not. It is all relative to your position chronologically and financially in life. Rip had it right.--Doesn't mean DBL had it wrong.
In a while you may want to consider the reality of it all.
I often go through a thread and examine the commentary from a critical viewpoint.
Do you see the differences among the vantagepoints the assortment of posters have?
For anyone to profit (learn from another) it is very important for the person to get all of the considerations taken into account.
Talking about WHAT is a consideration.
Talkng about HOW is where the rubber meets the road, of course.
The WHY of things seems to be the most elusive. And it doesn't get addressed very much.
It may be hard to imagine but many people do not have to deal with losses. This is obviously a WHY issue that comes from knowing HOW to deal with WHAT.
There was a comment or two on a pair of concerns: 1. having a plan and 2. using a plan. Considerations around plans. This pair probably dooms potential traders more than any other combo.
The way I trade commodities probably seems to be unattractive to others. I stay in the market almost all of the time and the market runs the show for me. I just obey all of the time. The concept of 1. taking losses comes after 2. going out even which comes after 3. taking less money than what was available which comes after4. taking off the table everything that is there to take.
It is very hard to get to 1., if you are doing 4. all the time.
I guess it becomes clear to people at some point that everything up to the point of fully understanding the markets is just preamble. Most people do not have plans ever in their trading. They DO, MOST OFTEN, think that they do however. They may or may not follow this thing that they have; it makes no difference because they are screwed from the get go.
Plans and knowing what is going on in the markets are very different topics and considerations. You cannot make a plan without knowing the markets. You can only get to know what is going on in the markets by going through a succession of experiences that introduce you to successive parts of the workings of markets.
This dynamic transition is a 100% of the time a learning experience. Most people continually learn to fail.
The learning template is where the life of a trader begins.
There is no section in it called "having hard time taking losses" learning.
Plans? If there were some of them, they would not be understandable to many people.
