Yes, but the problem is you don't know what the other person is really going through. It just so happens than SO is not well, and I have apologized to him on his ES thread. Best to keep your big mouth shut, as it really does no good shouting off anyway, which you rightly said. Why are you right so many times J_S
Because I have extensive experience..., and consider myself a consummate professional.... At being wrong RN
[QUOTE="Redneck, post: 4244165, Hell.., if we never let loose once in awhile - we go F'n nuts RN[/QUOTE] Losing defines your weakness and as for winning? It only postpones the inevitable; the magnitude of the inevitable depends on how long you’ve been losing.
You're making me think Z4...., and how it hurts sooooo much I prefer: My weakness defines my losing..., rather the degree of my losing..., and to a lessor..., yet as important extent - the frequency of my losing Some losing is inevitable.., a fact of both trading..., and life Self induced losing however..., is wasteful..., and unnecessary ================== As to winning postponing the inevitable: Well...., my inevitable is that One day I will die I would certainly like to prolong that day arriving..., as long as is possible while also enjoying a certain quality of life But in the end - I am worm dirt..., a memory..., and at some point - never thought of again Everything in-between now and then..., is my remaining journey here on earth I plan to enjoy every damn minute of it..., and..., raise a little hell along the way win.., lose..., or draw RN
At the moment I'd prefer to stay with my own plan, but thanks anyway. I daytrade EUR/USD using an account with FXCM. Care is needed trading that as yesterday volatilty kicked in at about 1:30pm GMT, but there was nothing on the calendar to be aware of it in advance.
No prob MN, and you are prob better off also, I have to stop these silly ideas entering my head, as we all know the only person that can really help you is yourself. I am glad you said no, as it shows you have what it takes, all you need do is keep at it, and as RN rightly says, always take your loss, otherwise you will just end up on the idiots list, which is 100% correct. J_S
MN, not sure if this might assist you, but I would be careful of curve fitting, no matter what market I trade. If you try and convince yourself you are seeing something, then this can lead to many bad trades, and I speak from experience. You are always better off to use a method that keeps you on the right side of the market, across all timeframes. You do this by using charts with different timeframes, the most common being 1, 5, 10, 30, 60, daily, weekly and monthly. Price will change direction when it does, and the 1 min chart will capture this more clearly, and if the line in the sand is taken out, then you go up 1 level and check next line, but always watching the 1 min for quick reversals. This can be applied to any duration of trading, as your duration will determine what stop you use, by what charts you use, but there is less risk by using the 1 min, which is obvious from moves in futures since last night. J_S
I will admit, I made a big mistake last night, in relation to prudent risk management, so RN can give me a good telling off Wanted to start getting back into trading futures outright, so done a few trades on NQ. First 2 went fine, then the programme came on tv, and for some silly reason I done a third trade, and decided to hold it overnight with no stop, something which I never ever do, only with Options or very small share size. What happened, yes, of course, futures plummeted Oh well, what did I do this morning, I bought another contract! Been a while since I seen $500 coming and going in 30 seconds or so at times, and it was a very needed reminder of what tinkering with futures can do to your wallet, so I now had to call on my looking and gauge if they would run it back up, or not. I decided they would, and let's just say I was rewarded for bad trading this time, as it was bad trading, and rest assured, I will not be holding outright futures overnight again, as it is not worth the risk, unless you have loads of money and can withstand substantial drawdowns, which very few can. Of course, it is bad trading anyway, as you are tying up money that could be making you money, as when you are holding a losing position to recover, you could be using that money to trade in and out as price moves up and down! J_S
Trading is not a one-off gambling business. Rather, it is a business that seeks consistent low variance over the long haul.
Nor is it art..., science.., or luck It is a skill set One must identify..., assimilate..., hone..., then put to use to exploit RN