Choosing the best trade?

Does anyone have any comments/suggestions on how they rate a trade to take (1 being the best, 2 being good,3 being average)?

I hear and have read much about the comparison of trading and Poker, but it appears that in poker that its very clear on what hands to play with direct probabilities before the flop.

Compared to trading, it seems ( to me) that its very hard to rate a trade, to determine the probability of success and/or the edge of the trade- being that it is so random most of the time. Are their any techniques to rate a trade?

If counting the cards in BJ is close to 2%, for you successful traders, what is the edge? 2%, 5%, more?

Thanks very much for your input…

pak

 

no

once you have trading rules for enter and exit

there is NO picking and choosing

that's why you test for DD and everything else

and you keep position small and constant

WOW I just gave you everything

 

You can rate the setup, but not the outcome of the trade.

 

I don't know about card counting but if there is one common thread between a successful gambler and a profitable trader, that would be MONEY MANAGEMENT. The emphasis is placed on LONGEVITY. That is, how much you can make is not as important as how much you can lose. As they say, take care of your losses and profits will take care of themselves.

 

Thanks for your Help Anti-Hurst

A follow up question: I will do better trading a definable set-up that requires no judgment vs. picking and choosing trades based on feel & experience? (in both cases betting small and constant like u mention)

Is it possible to win over the long run picking & choosing?

 

I would not suggest discretionary trading without years of chart studying in real time.

 

==================
a]Pak;
Aim at doing plenty,plenty of chart work or price work ,[Rio said years]
feeling free to notebook your'' feel & experience'',
Bull market or bear/now...................................................................

z]You may prefer make decisions by feelings, some do,
but remember what my banker Dad told me, many years ago;
''Son,sometimes i dont feel like going to work on Monday, but do it anyway, reguardless of feelings, because i have work to do.''