Study the winners in whatever setup you trade. (Every day.) If your trade doesn't look like that, get out ASAP.
Love it!
I won't bother with any philosophical b.s., just facts. First I will agree with Damir, then disagree. Agreed: exits are so critical, that...
Here's a link to a free simulator: TSim+. Score a profitable month in the simulator first. Keep a notebook. You'll learn a lot.
price and volume The shorter the time frame, the worse...
Have you studied your exits in a systematic way? I have many different exit indicators, but by far the best is "stops to b/e and take a nap"....
If that was heaven, hell is really going to suck.
You can estimate your worst case scenario drawdown by taking all your losing trades for a month and adding up the points. (Leave out all the...
Ok then, what is your probability of winning, and how did you arrive at the number? To gain 8 points while risking 20, you'd need 5 wins for...
There are three kinds of missed trades I know about: Sleeping (literally, or figuratively) during entry signal Used limit order for entry,...
Roger that, it depends on the vehicle. For me, the only ones I let hang or move against me are dividend bearing stocks or bonds. To become...
Not disputing your system, just that you read "sideways" and you are short. When my system says "sideways" I am out, or if I already have a...
The law of nature being: if you teach, you learn more about what you are teaching.
It could be happening right now.
If the seminar is about a trading method, I would pass. If the seminar is given by a big-wig, about trading and market behavior in general, it...
Not a bad idea Flash. That's what Jim Wychoff always says anyway. I usually do market orders just because stop limits are much more of a pain in...
Your second question first: on profit taking. The answer depends on your trading method. Here's how to get the answer: get on your simulator...
Hi TS, great topic, as you can see a ton of suggestions. There is an answer, which depends on how you are trading. Keep track of what each...
Sorry, that's all I got. Also, I will say, the tool is not for figuring out "how fast you are losing your ass". It's to get a "second opinion"...
The "risk of ruin" technique is one i've heard about but have yet to try. Once you have a list of "x" trades and results, you have the...
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