Trading breakout is great but you need to manage false breaks. Does anyone have some numbers to eye ball them?
What are your Trading Breakthroughs?
- Thread starter mmm
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For me, controlling losses or risk control is paramount! That is so true. Last year, 2013 I lost $246 which was pretty good for one whole year of trading. Previous years, I would lose a couple of thousand. This year, 2014 I started out with $500 gain, got into some bad trades along the way was down like -$2,000 but, did not panic as I controlled my losses. Was down 11.5% on that -$2,000 deficit. After closing all my positions, the past week, I was ahead $116.00 and that loss wiped out! I had 29 trades since, Jan 2014 till now and had 9 winning trades and 20 losing trades. A 31% win rate and yet, I still had a profit! What lit a light bulb in my head is pyramiding on your profitable trades! Will be trying that out next. Until I controlled my losses, I never had a chance in the stock market. Now, I know better and sticking to the trading plan.
Nonsense. It is an intentional walk and always has been.
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Yes,OT;
breakouts can average smoother above the 50 dma+ 200day average moving average[ That's what [OT] Old Turkey meant when he said ''its a bull market you know''LOL.] NOta prediction; polar bears eat old turkeys/most any meat.........................................................................
I'm not sure "paranoia" is the word I would use -- but I prefer open-mindedness and flexible
Always be prepared and open to being wrong. Trading afterall is part art, part science...can be irrational.
Being stubborn in the marketplace will kill you...atleast in the trading world, it will.
The long run investing world is much more rational and reasonable and logical.
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New traders should made this Rule number ONE. Expect to lose on every trade but have answer before getting into the trade as to what do, have the answer before the question.
I am wrong more times than any other instruments when trading long term commodities, I never have done better than 15% being right in any year I been trading, but I keep my answers to what to do near and dear, and automated. It works well for me as I have much patience to wait it out. Am better in stocks percentage wise cause I have the answers of what to do when trade goes wrong way.
Trading is often just knowing the trend before most other people get on board, many people can't plug the trigger.
The key thing I've learnt about trading is that it hinges on one of the weaker aspects that we
have as humans, that aspect or quality is patience the reason 90% fail is that the required patience to trade according to what the market requires is just not high enough.
Think about it if someone would hand you $200,000 if you could just wait 6 1/2 months and 4 days for a trading signal to form and go long or short would you have the patience to wait for that ?
The only reason I have ever lost money is because of a lack of patience it was never and markets fault perhaps the other thing that would have added to the losses was just plain and simple inexperience but after the hundreds if not thousands of hours studying charts, reading, YouTube videos and searching endlessly you eventually develop experience that experience does work but if you are continuing to lose money it's a simple case of still not waiting for what works if you lose money your inherent qualities as a human is to try and make it back as quickly as possible because it brought pain however the markets don't work this way they don't wait for you, you must wait for it in time
I will find trading to become easier it is still very complex in some ways but for us we need to simplify it and the edge that we can create for ourselves is to wait trade smaller with larger stops to stay in thse trades that would have worked in the first place and to once again simply wait for what we've seen happen reliably on the charts over and over and over again thank god that things do repeat because if they didn't repeat then we would never ever have a chance to profit. The day will come when after a time of consistency you can then size up. But maybe you won't have to if you are consistent.
have as humans, that aspect or quality is patience the reason 90% fail is that the required patience to trade according to what the market requires is just not high enough.
Think about it if someone would hand you $200,000 if you could just wait 6 1/2 months and 4 days for a trading signal to form and go long or short would you have the patience to wait for that ?
The only reason I have ever lost money is because of a lack of patience it was never and markets fault perhaps the other thing that would have added to the losses was just plain and simple inexperience but after the hundreds if not thousands of hours studying charts, reading, YouTube videos and searching endlessly you eventually develop experience that experience does work but if you are continuing to lose money it's a simple case of still not waiting for what works if you lose money your inherent qualities as a human is to try and make it back as quickly as possible because it brought pain however the markets don't work this way they don't wait for you, you must wait for it in time
I will find trading to become easier it is still very complex in some ways but for us we need to simplify it and the edge that we can create for ourselves is to wait trade smaller with larger stops to stay in thse trades that would have worked in the first place and to once again simply wait for what we've seen happen reliably on the charts over and over and over again thank god that things do repeat because if they didn't repeat then we would never ever have a chance to profit. The day will come when after a time of consistency you can then size up. But maybe you won't have to if you are consistent.
all price action is crystalized, may know some things, may not know others, but the 2 dimensional representation of a multivariate data set is the focal point of the here and now.