 |
failedtrader
Registered: Nov 2011
Posts: 3 |
11-14-11 09:42 PM
@the1
Thanks for the lengthy reply.
I don't try to build systems that adhere rigidly, but I do see your point. Actually, a long time ago, I built a system that basically replicated all the recommended trading patterns of StockCharts.com, and attempted to trade based on them. As you might have guessed, it was not profitable. Oh, youth.
(Maybe that is a good demonstration for me to rewrite quickly and release...)
|
| |
|
Edit/Delete • Quote • Complain |
trader198
Registered: Mar 2010
Posts: 1217 |
11-14-11 10:36 PM
someone in this board's analysis is right.
trading failure is not related to the method. the failure comes from the way you use your method.
you need understand yourself, find something fit you. to me, I found I am logic man, love to reason, so basically not suitable to do day trading (where to place stop loss or cut loss then ;ate I found right is not acceptable to me, fast finger without thinking things over are not suitable to me), suitable for speculation.
know the market, at the mean time, know the "me".
when I day trade, I found I easily do impulsive trading such as revenge or reflexing trading (the market down, I sell, the market up I buy, but most time I am trapped, or whipsawed in random move, something in my brain drives me to do that even I do not want to do that, end up I trade lot with no good sound thoughts, of course the results is not good, so I move on, pick something that fits me).
I trade crude/index future lot, but now I rarely trade them, just focus on option trades. so I have time to do research and reason on my trade, bascially I do not check quote much. do not pay much attention to intra-day technicals, just daily charts and 50EMA. so I have plenty of time to prepare/plan my trade, I found most trade through this process makes sense to me, also very profitable.
everyone has talents, but the talent is different. find it and apply it, then you are on the roard toward success.
|
| |
|
Edit/Delete • Quote • Complain |
western
Registered: Mar 2008
Posts: 157 |
11-14-11 11:05 PM
Could your blog have been any more generic? If you expect any sort of constructive feedback you need to provide something worth reading.
|
| |
|
Edit/Delete • Quote • Complain |
iceman1
Registered: Oct 2002
Posts: 4258 |
11-14-11 11:09 PM
Quote from trader198:
someone in this board's analysis is right.
trading failure is not related to the method. the failure comes from the way you use your method.
you need understand yourself, find something fit you. to me, I found I am logic man, love to reason, so basically not suitable to do day trading (where to place stop loss or cut loss then ;ate I found right is not acceptable to me, fast finger without thinking things over are not suitable to me), suitable for speculation.
know the market, at the mean time, know the "me".
when I day trade, I found I easily do impulsive trading such as revenge or reflexing trading (the market down, I sell, the market up I buy, but most time I am trapped, or whipsawed in random move, something in my brain drives me to do that even I do not want to do that, end up I trade lot with no good sound thoughts, of course the results is not good, so I move on, pick something that fits me).
I trade crude/index future lot, but now I rarely trade them, just focus on option trades. so I have time to do research and reason on my trade, bascially I do not check quote much. do not pay much attention to intra-day technicals, just daily charts and 50EMA. so I have plenty of time to prepare/plan my trade, I found most trade through this process makes sense to me, also very profitable.
everyone has talents, but the talent is different. find it and apply it, then you are on the roard toward success.
good advice
agree
|
| |
|
Edit/Delete • Quote • Complain |
Renegen
Registered: Aug 2006
Posts: 1054 |
11-16-11 12:03 AM
I think the reason you failed is because what you really care about is writing? The story is good and you should stick to that.
|
| |
|
Edit/Delete • Quote • Complain |
| Receive
an email whenever a new post is added to this thread by subscribing
to it. |
|
|
|
|
