Brand new this

Discussion in 'Psychology' started by lilduckling, Jul 10, 2005.

  1. jaya108


    with the right money management you can ride on any time frame. To know yourself doesn't mean you cant train your self new profitable methods or improve your psychology and master control of emotions, to work as positional trader and hold positions for weeks and months trains you to be patient on the market - like any NLP or psychology, then on the intraday you become more patient and wise
    #141     Apr 15, 2008
  2. forexfox


    Whatever method and time frame you use - you would the high probability entry trigger and losses have to be kept small. If you are a position trader and have to weather long big drawdowns - this will wear you down psychologically and financially.
    #142     May 18, 2008
  3. limau2


    Tq duck , for a good post..agreed.
    my own experience :

    a new trader should:
    1) can afford to lose, by playing % small bets. Bigger bets led to bigger loss.
    2) therefore can gain experience- developing gut feels
    3) can afford small lose, in order to get bigger profit (cut loss, let winner runs) - use of stop order is important here.
    4) choose a right market, ie suitable for newbie - has liquidity ,thus the volatility is acceptable.
    5) has motivation to win.

    #143     May 19, 2008
  4. bump..... kinda old post, but still some good discussions in this thread for newbs
    #144     Aug 22, 2008
  5. Bartoshea


    #145     Jan 19, 2009
  6. Wow, this is by far one of the best posts I have read lately.

    Thank you!
    #146     Jan 22, 2009
  7. koolwater


    great post bud. Hope you are still in the game.
    #147     Jan 22, 2009
  8. Yes, but not currently that active. This action is not that great for my time frame style. Putting some money in real estate instead.... feel getting in now will set me up for a nice performance down the road. Also been nipping at some gold. I plan on trading more actively when I see mkt become more favorable to my style.
    #148     Jan 23, 2009