Thank you for the psychoanalysis, Doc (j/k, thank you, Kid) 1) You tell me, I started trading oil live in April 2008 and shorted this mofo all the way from 100 to 146... and made money in the process!!! Edit: sorry for the war story, but when oil went up 10 bucks in one day I simply gave up trading oil. The day after that I think it went up a bit and then one more day later started cratering... well you know the rest. 2) Regarding scared money, my trading account is not scared money, but my savings account is getting afraid, very afraid (the crisis, you know, Spain being a PIIGS and all that). 3) In my view you make a very good point, but I don't think this is a case of protecting my ego because a) I don't think I have the image of a good trader - hey I've posted 31 be's/small losses in a row!; b) b) profits come from luck, small losses come from skill: if I win, I'm just a lucky monkey, if I'm stopped out I did the right thing by protecting myself. I'd say I'm naturally risk-averse (I've <i>always</i> found it hard to put on positions, even at the beginning and even during good runs) and that this aversion is compounded by: having a system that relies mostly on reversals (i.e. entering counter-trend), having changed this year to longer/larger targets (oddly enough I find it harder to enter when I'm ready to add and hold for a large gain than when I used to scalp for 20-30 ticks) which I guess somehow makes every trade a bigger deal and finally I'm sure this preposterously long run of be's/losses (down in all 900 USD, not a killer, I just need one decent trade to break even, but certainly not nice either) is not helping either. But thanks for the pointer, I'll be watching Revolver this weekend. When Herr Kid speaks, Picaso listens
I had one left over from yesterday some I short 2 avg of 74.65 FIFO method. The cha ching post from earlier was from my phone I was trading from the course
All good, with your adds, sometimes I see you trying to add in what appears to be a weak trending market. I only add when I have a large target and price action - as in a strong trend and volume confirms it is so. The add is good enough to be a new trade in its own right, not just because I'm playing with profits. If you're that good to do an add in chop, then you're good enough to exit most in each wave. Revolver is a good movie, but its one of those movies most need to watch twice, this will help you understand it after you have watched it http://www.imdb.com/title/tt0365686/synopsis hopefully the other traders on this thread can give some advice or share their experiences
1) I'm sure this is not what you're referring to but I exit all at once. 2) From your link: "The first rule of any game - YOU CAN ONLY GET SMARTER BY PLAYING A SMARTER OPPONENT." I know
Quote from EON Kid: 1) If you're that good to do an add in chop, then you're good enough to exit most in each wave. 'in chop' if you want to add I'm saying you should be exiting in each wave, most or all your position. Some trades that you have posted, you have tried to add in a weak trend which only drags your BE stop lower into the noise. stick a fork in me, I'm f$$ked, have a good weekend all.