Hey Barcadia - Thank You for the Very Kind words - but it simply a number - tomorrow it a memory..., and doesn't mean a thing ==================== As for trading; Get / stay on the right side of price Keep each loser small when you're not Each trade - has a reason for entering..., when the trade breaks down and invalidates that reason - get out Price movement is a language onto itself - learn it.., as you've learnt your native tongue Price movement is not random Each of us has had to find/ create our trading approach - so to will you Many really good traders on this forum - ask questions - they do respond Successful Journey to You RN
Never confuse trading for easy - some days yes..., but other days will more than make up for them - in spades And never take what I post to ever infer trading is otherwise I will add this however = Too many make it a lot harder than it needs to be RN
RN, to get rallymode's perspective (and correct me if I'm wrong, @rallymode) you would need to read a post he made about a month ago in another thread regarding retail traders and their "life cycle." the TL;DR version is if you have an edge (in any form, whether "hard" or strategy, etc) that goes through two solid market cycles and survives, then you must master the ability to push it to the hilt. a fantastic post... i'll search for it tomorrow if I remember and post it back here.
Eloquently written..., and the vast majority I agree with I also agree with him on the use of leverage - not ubber excessive leverage - but if available..., and one adept at trading - then it essentially free money available to use - to make money with What I do not agree with..., and never will.., no matter who says it..., or how ofetn And especially after living through it more than once Is excessive draw downs They are not necessary..., they are extra work - not only to recover from..., but to get back ahead of..., they are an emotional hell..., they are an anchor around one's neck..., they affect one's trading And if not managed absolutely correctly (the drawdown..., and the trader) - will lead to one's complete and utter trading demise (many people have committed suicide over this exact shit) I've been doing this far too long for anyone to convince me otherwise I'm in this to make money - consistently - period And to hell with the wallstreet bullshit / ego fest (8 / 9 figures my ass) Hell I could brag if I really wanted to - about the oil trade I have on (talked to H123 about it a while back) But why..., and to what end - absolutely none ======================= A trader makes money - that is our job..., that is our only job (protect capital first..., make money second) And we can do so with any amount ======================= Likely as not..., Rallymode and I would agree on a lot of trading related topics But not this one (necessity of excessive drawdowns) - not now..., not ever ============ Sleep well LSB - and Thank You for sharing Tomorrow we'll do'er all again Sir RN
Draw downs happen, when your edge stops working, losses happen all the time, so it takes a while to realise its not just a bad run, therefore draw downs, unless you have an edge which never quits are always going to be part of trading. I liked RNs posts in, post your losing charts, simple setups no issue nothing fancy or special mind, but i don't believe he made 18k , say he took 40pts profit out today, he'd have to be trading at $450 per pt, just not buying it.
Hi. Cheers. Still working on that. From reading a few of your posts, I can see that you are very much into the phsycological aspects of trading, and getting them parts right. I kind of feel that I have a good mindset from that point of view in that I can take my losses like a robot, I can be patient and wait for my setups, I don't 'revenge trade', I can let my profits run etc etc, but I feel like, without a 'winning methodolgy' none of these 'abilities' will stop me from losing money. I've been investigating a number of approaches on various instruments for the last few months. Lots of chart watching and observing price move intraday. So far, nothing has been better than flipping a coin, but I live in hope. Am I right in thinking that you just trade off of charts using technicals? trendlines etc? I see that you almost exclusively trade Facebook? (FB) Do you feel as though you could be as consistent if you were forced to trade somthing else? Say the NQ or an FX pair for example? Regards.