What Are Your Golden Rules?
- Thread starter ScottCarsonMVP
- Start date
before trading day starts exercise , meditate ,read news for 30 min before turning on computer .
Never ever never ever chase [price]!! Agreed
Disagree. Given conditions, which a trader can learn, it's not only "OK to chase", but highly indicated and correlated.
Few people over the years told me about the Doctor. My handle has nothing to do with him.
What is your assessment that so many lose after many years of trying, do you believe people do not have rigid rule based well tested Trading Plan and do not trade like a robot or do you have different? Do you think too much time wasted on entry and not enough on risk management?
I think most people ask forum wrong questions.
Hello,
I always tell myself before or while in a trade.
1. Once I click buy or sell, I stay in. No second doubting/guessing myself.
2. If I miss the first signal, there is no chasing. My fault, I missed it.
3. Stick with the trend. If you buying and selling with the trend, the odds is in your favor.
I always tell myself before or while in a trade.
1. Once I click buy or sell, I stay in. No second doubting/guessing myself.
2. If I miss the first signal, there is no chasing. My fault, I missed it.
3. Stick with the trend. If you buying and selling with the trend, the odds is in your favor.
Hello volente_00, post,
I need your recommendation or help.
I use bracket order as well, but I struggle with trusting my profit target exit at sometimes and exit sooner....than X minutes/hours later my profit target get hits. This cuts into my profit.
Besides set it and forget (walk away), do you have any recommendation or opinion to improve this struggle?
Thank you in advance.
I really don't know why so many people fail to pull money from the markets, especially after trying for many years. Each type of trading - scalping, day trading , swing trading, investing and being an option geek certainly present their own obstacles.
Of course there are the well known factors like; lack of discipline, undercapitalization, lack of intelligence (inability to learn from mistakes - lack of humility), lack of time, lack of a systematic approach (throwing money at something without insuring it is better than random), personality traits (over-emotional), bad karma/luck and that big killer - a willingness to work for someone else.
Any one of the above let alone a combination of a few of them will take a trader out of the game.
I spend all my research time searching for ideal entry levels, which I suppose is trying to limit risk exposure. But my systems only scalp and take short day trades. I am sure its less important for longer term traders.
Of course there are the well known factors like; lack of discipline, undercapitalization, lack of intelligence (inability to learn from mistakes - lack of humility), lack of time, lack of a systematic approach (throwing money at something without insuring it is better than random), personality traits (over-emotional), bad karma/luck and that big killer - a willingness to work for someone else.
Any one of the above let alone a combination of a few of them will take a trader out of the game.
I spend all my research time searching for ideal entry levels, which I suppose is trying to limit risk exposure. But my systems only scalp and take short day trades. I am sure its less important for longer term traders.
Only if you know the current trend
true that the level of risk is down to the individual