What exactly is "Open Mind"?

[OddTrader]

Open Mind by Bruce Lee: Be Water My Friend

“If you do not have styles, you just say, here I am as a human being, how can I express myself totally and completely. That way, you won’t create a style because style is a crystallization, that way is a process of continuing growth.” – Bruce Lee

 

[Handle123]

Price can certainly do - what ever it wants..., any time it wants (obviously within reason - aka its current context)
RN

What is amusing, two traders of same background, years of experience can see same price and see it completely different and yet both be profitable. Trading is not about being right, it is only making as much money as one can consistently. Too many people here and everywhere have other alternatives for trading. Timeframes can be different, risk different- shorter the risk more precise entry has to be. If options are used as hedge can make a difference. One can be trading off weekly bars and other off the DOME.

Being "Open Minded" also means not be dumb, well back tested method has to answer every inconceivable thing that can go wrong. Many lose cause they think one month is long enough for back test, better is three to ten years, longer time, you are "Open Minded" to possibilities of doing what most would never say to do as you have huge history of what your method can do, drawdown, most losers in a row, what is the mean of losses, individual drawdown, time of winners, and if going for bigger profits-breakdown trade into segments so you can trail protective stops if you need them. I don't like stops when day trading-tend to get lazy and not actively concentrate on the trade, but that is me, but I hear so many others will say "I will just let the market take me out", maybe the chart has changed enough to take loss early and save some coin.

 

[NoDoji]

You ever see where price - just prior to a sizable move (for arguments sake lets say up)

Acts like its heading up..., but then stops..., and heads down..., then stops..., heads back up

And it could do this back and forth a few times before ultimately heading up

Longs are out - and scared

Shorts are in and hating life


And there goes price - on its merrily way - up



This is one form of fiddling

There are more... and some simply insidious in the amount of fucking with they can do to a trader - before price gets to where it needs to be

It amazing to watch

RN

I shook myself out of so many perfectly fine trades falling for the "consolidation blues" that I finally decided to chant a mantra whenever I'm in a position where price is making everyone nervous:

It's still a long, no short signal, it's still a long, no short signal..."

 

[Redneck]

LOL

Me too..., sometimes still do



RN

 

[smallStops]

I shook myself out of so many perfectly fine trades falling for the "consolidation blues" that I finally decided to chant a mantra whenever I'm in a position where price is making everyone nervous:

It's still a long, no short signal, it's still a long, no short signal..."

NoDoJi,

It's REALLY great to see you now posting in the psychology section.

Does your PM works?
Also, is that true that people have checked your audited P&L for over 2-3 years,
or I am mistaken. Or is that you are now pulling in million$ profits/year ( correct
me if the information I got is false).
Please do not take this badly, I just want to check information I am - without asking -
passed.

Thanks in advance.

 

[NoDoji]

NoDoJi,
Also, is that true that people have checked your audited P&L for over 2-3 years,
or I am mistaken. Or is that you are now pulling in million$ profits/year ( correct
me if the information I got is false).

No, and no

 

[JTrades]

No, and no

And...

ND != donnaforex

ND != "@NoDoji"

ND != Karen The Supertrader

ND != Linda Bradford Raschke

 

[ExperiencedJoe]

ND != Linda Bradford Raschke

What have you got against Linda Bradford Raschke then ? I think she's one of the best traders on youtube.

 

[JTrades]

What have you got against Linda Bradford Raschke then ? I think she's one of the best traders on youtube.

I'll answer your question if you explain how you reached the conclusion I have something against LBR.

 

[ExperiencedJoe]

I'll answer your question if you explain how you reached the conclusion I have something against LBR.

Because you also mentioned karen the 'trader'. I thought she was a joker on youtube. If you put them together in the same post, I presume you see the two equally matched ? So it's a case of LBR is as bad as karen, or karen is as good as LBR. I thought you might mean the former in your post, because the latter possibility didn't make sense.