What are your Trading Breakthroughs?
- Thread starter mmm
- Start date
I'm not trying to be confrontational at all....I was just wondering the name of the room you're referring to...web address?
Don
1 The market has strict rules and is very unforgiving.
2 When I understood the markets BIG picture, yet focused on a select group of instruments and learned their movements like the back of my hand.
3 Understanding a beautiful chart pattern is no guarantee of performance.
4 Cycles are repetitive.
5 There's always tomorrow.
2 When I understood the markets BIG picture, yet focused on a select group of instruments and learned their movements like the back of my hand.
3 Understanding a beautiful chart pattern is no guarantee of performance.
4 Cycles are repetitive.
5 There's always tomorrow.
- Protect the principal at all costs.
- Keeping losses small and letting the winners run allows me to be profitable while having more losers than winners. This is just a beautiful concept.
- Candlestick reading.
- Stop loss entries are sacred.
- The trend is my best friend.
- I can control my trading during market hours but once the market is closed it is out of my hands therefore I close *all* my positions before the closing bell. No exceptions and no swings.
- I took care of Fear with stop loss entries but mastering Greed is not so simple. Letting a winner turn into a loser is a sin, adjusting stops when the trade is running your way is a great tool.
- Last but not least, money management.
- Keeping losses small and letting the winners run allows me to be profitable while having more losers than winners. This is just a beautiful concept.
- Candlestick reading.
- Stop loss entries are sacred.
- The trend is my best friend.
- I can control my trading during market hours but once the market is closed it is out of my hands therefore I close *all* my positions before the closing bell. No exceptions and no swings.
- I took care of Fear with stop loss entries but mastering Greed is not so simple. Letting a winner turn into a loser is a sin, adjusting stops when the trade is running your way is a great tool.
- Last but not least, money management.
Love what you do, and have a desire to succeede. There's more to trading than that, but I think thats where it all starts.
A very good point. However, I noticed that you posted during trading hours. I guess that breakthrough is still in progress, eh?
Breakthrough WILL happen when I fully know what I'm doing!
Last weekend I went over every trade in my records since Jan.:
Where I entered,
where I exited,
what the stock ended up doing...
& most important my actions for right or wrong...
WHY trades made money,
why I panicked and lost my head not accepting a 15% gain and instead taking a 50% loss on two of those trades...
adding to my 'do not make these mistakes again' list,
adding to the market education in-box,
why if I don't follow my check list thinking I will be all right, why I ended up a loser or a winner around that list.
Thinking I'll make money if I don't know anything about a stock or its' chart habits.
Why do I keep trading?
Because no one came out of the womb a brilliant trader so I have a chance.
While vacationing in Hawaii, our helicopter pilot took us on a tour that made me turn green and not with envy.
His flying was crazy according to me. He said I would eventually break through that queasiness with enough flying.
So goes the same with trading and the market waves.
Last weekend I went over every trade in my records since Jan.:
Where I entered,
where I exited,
what the stock ended up doing...
& most important my actions for right or wrong...
WHY trades made money,
why I panicked and lost my head not accepting a 15% gain and instead taking a 50% loss on two of those trades...
adding to my 'do not make these mistakes again' list,
adding to the market education in-box,
why if I don't follow my check list thinking I will be all right, why I ended up a loser or a winner around that list.
Thinking I'll make money if I don't know anything about a stock or its' chart habits.
Why do I keep trading?
Because no one came out of the womb a brilliant trader so I have a chance.
While vacationing in Hawaii, our helicopter pilot took us on a tour that made me turn green and not with envy.
His flying was crazy according to me. He said I would eventually break through that queasiness with enough flying.
So goes the same with trading and the market waves.
My trading breakthrough: I am getting started and I researched a thread about Wize trade. I am so thankful that I didn't waste my money and did just a tiny bit of research.