What are your Trading Breakthroughs?
- Thread starter mmm
- Start date
!) dont try to predict the market
2) buy high, sell higher and sell low, cover lower.
3) buy which is going up, sell which is going down. and it has nothing to do with the entry price!!
breakthrough-starting of successful implementation of these rules.
most difficult thing to practice was the first one. it is really difficult to stay "empty headed" ie without any pre-occupations.
2) buy high, sell higher and sell low, cover lower.
3) buy which is going up, sell which is going down. and it has nothing to do with the entry price!!
breakthrough-starting of successful implementation of these rules.
most difficult thing to practice was the first one. it is really difficult to stay "empty headed" ie without any pre-occupations.
have been day trading for about a year and massivley struggling..... in early march i bought 400 shs of UA and it dropped about 1.50 in 10 mins on me and i took a loss, big one for my account... the stock completely reverses to go up 2 bucks from my original buy that day then went up like 4 bucks the next two days..... so now i feel like the biggest idiot ever and decide to put on smaller positions and hold for longer period(swing)...... last march was my best month since october and i allocate most of my trading to swings 80% daytrade 20%... i know get shaken out less, take bigger profits and churn less, i was trading about 50k shs on avg.. now maybe 12k...... maybe not a turning point yet since it's only one month but im hoping to get some traction going forward
1) The true meaning of edge as something that has to be implemented in strict fashion over a large number of trades.
2) Not caring about what happens now but, rather, what happens over a long period of time.
3) The idea of viewing yourself from a second person point of view...taking note of what you're thinking and using that in your favour.
4) The value of record keeping.
5) Thinking cumulative!
2) Not caring about what happens now but, rather, what happens over a long period of time.
3) The idea of viewing yourself from a second person point of view...taking note of what you're thinking and using that in your favour.
4) The value of record keeping.
5) Thinking cumulative!
stop jumping into an abovious trend, willing to step ahead and go counter-trend trading
trade what I thoght: profit taking in reversal, bounce, breakout
not figget about method change, strickly follow my own trading style, even I toke a loss on my method, still sturnborn in next trade ( the same paramters to find a trade and do it).
even some one told me or the market keep telling me "I am doing wrong", I never give up my betting method, of course I change symbol to symbol, I do not stick to one symbol (I am not all hats guy, and I can not adapt to new method quickly)
I like to short big thrust green bar and take heat quickly in the next big red bar, then short more in the next little green bar
I like to catch falling knife bar and out quickly in next big green bar, then short in the next red bar
when I feel I am not afraid of anything, I start to "wow, trading is so easy, why this indicator, that indicator, this setpup, that setup,this ema, that ema", totally forget about all about where to put stop loss, where to take profit, just feel I am doing it naturally
trade what I thoght: profit taking in reversal, bounce, breakout
not figget about method change, strickly follow my own trading style, even I toke a loss on my method, still sturnborn in next trade ( the same paramters to find a trade and do it).
even some one told me or the market keep telling me "I am doing wrong", I never give up my betting method, of course I change symbol to symbol, I do not stick to one symbol (I am not all hats guy, and I can not adapt to new method quickly)
I like to short big thrust green bar and take heat quickly in the next big red bar, then short more in the next little green bar
I like to catch falling knife bar and out quickly in next big green bar, then short in the next red bar
when I feel I am not afraid of anything, I start to "wow, trading is so easy, why this indicator, that indicator, this setpup, that setup,this ema, that ema", totally forget about all about where to put stop loss, where to take profit, just feel I am doing it naturally
the turning point is
not afraid of doing any thing, whether some people thought it is a danger, or some people believe it is nausty like averaging down, hold overgight with losing position, .... when I climbed out of all those most afraid of things, I feel nothing is fearful.
I conquered my fear.
when you do average down, do not curse yourself, you should be proud of yourself, you are doing things most people are afrid of doing. 99.99% time, that works. commen sense. drop causes bounce, rally causes reversal
when you broken your rule, do not beat yourself up, martin shwartz average down his first option trade when he quit his job, broken his own rules, ....
even when you are losing, you should still be proud of yourself: I am losing, so what
trading is all about common sense. there is no secret about it.
not afraid of doing any thing, whether some people thought it is a danger, or some people believe it is nausty like averaging down, hold overgight with losing position, .... when I climbed out of all those most afraid of things, I feel nothing is fearful.
I conquered my fear.
when you do average down, do not curse yourself, you should be proud of yourself, you are doing things most people are afrid of doing. 99.99% time, that works. commen sense. drop causes bounce, rally causes reversal
when you broken your rule, do not beat yourself up, martin shwartz average down his first option trade when he quit his job, broken his own rules, ....
even when you are losing, you should still be proud of yourself: I am losing, so what
trading is all about common sense. there is no secret about it.
My breakthrough is when I discovered how simple trading really is. So simple that it may take a genius to figure it out. Or just some years of trading evolution, which means surviving for a while.
For me:
1) when to trade
2) when not to trade (shut it down)
3) 1 method for a few different time frames (Im not a method whore)
Result:
success
For me:
1) when to trade
2) when not to trade (shut it down)
3) 1 method for a few different time frames (Im not a method whore)
Result:
success
This is staggering. Are you sure trading is really easy or you have forced yourself to believe so in an attempt to be relieved from the stress of dealing with its complexity?
My major breakthrus where
Preselect levels ,where i look for trades (setups)
Watch how the market approaches those levels and how it reacts there
Stay flexible wheter it be my current market bias
Or a open position , ie close , hold , or even reverse
Dont try to force or project something into the market
Only trade the obvious
Rather ask the question why i shouldnt take the trade , instead
Of collect all reasonable or unreasonable points why i have to be in
A trade ... Beeing in the market is an option not a duty
Dont excpect every trade to workout the same as the one before whter it was a
Profitable one or not... It can be a real mindfuck if u have a profitable
Strategy or approach to the matket but u cant fully utilize the potential
Cause u hold on to positions while u actually should have closed it allready!
Cause the markets change quickly and u have to adapt to the new situation!
If the market doesent reacts in favour of my position immediately ... Rather get out!
Judge the markets by its own action
Let the market dictate how much profit a position will show in the end
Just because our last trade showed a 10 tick profit doesnt mean ur actual posi will give u
The same result! Even if the conditions where the same!
The only luck in trading should be hiw much a position will stand in profit
How much profit we make is not in our hands but we can controll risk and exit a losing position......
Preselect levels ,where i look for trades (setups)
Watch how the market approaches those levels and how it reacts there
Stay flexible wheter it be my current market bias
Or a open position , ie close , hold , or even reverse
Dont try to force or project something into the market
Only trade the obvious
Rather ask the question why i shouldnt take the trade , instead
Of collect all reasonable or unreasonable points why i have to be in
A trade ... Beeing in the market is an option not a duty
Dont excpect every trade to workout the same as the one before whter it was a
Profitable one or not... It can be a real mindfuck if u have a profitable
Strategy or approach to the matket but u cant fully utilize the potential
Cause u hold on to positions while u actually should have closed it allready!
Cause the markets change quickly and u have to adapt to the new situation!
If the market doesent reacts in favour of my position immediately ... Rather get out!
Judge the markets by its own action
Let the market dictate how much profit a position will show in the end
Just because our last trade showed a 10 tick profit doesnt mean ur actual posi will give u
The same result! Even if the conditions where the same!
The only luck in trading should be hiw much a position will stand in profit
How much profit we make is not in our hands but we can controll risk and exit a losing position......