stop thinking losses are obvious and can be avoided. they're only obvious because they happened. your strategy probably sucks and you are mean reverting. suggestion: ignore the psycho-babble quacks and work harder, much harder, possibly for years. in the meantime, don't trade.
yeah, I like revenge trading the chances of you hitting it right the first time are slim to none gotta take care of that position size Like the man said, "If I didn't average down, I would be working at Burger King."
ask the braket traders they are so smart they can pick the entry and the stop and the target 3 out of 3 they must be truly great
put it on with a stop if it aint broke don't fix it (that has worked well for me, but the drawdown is substantial.)
actively managing in the chop is quite more challenging but everybody knows most of the time it is chopping yet still all the money is made on the trend
Chop!? What the hell is chop, old boy!? One mans chop is another mans opportunity! The lazy man observes chop, the hardworking fruitful trader bags the the dollars! Have a nice day!
Thanks to everybody for your helpful replies. I've started reading Mark Douglas' Trading in the Zone and it has started to help put things into perspective. Here are a few replies to your... err... replies: <i>i had the same problem. I stopped caring when i had a working edge.</i> I do have a working edge; however, the system I use requires a fair bit of discretion. <i>The above question is the real question. Do you trust your signals?</i> Generally, yes. However, as I said, there is a certain amount of interpretation/ discretion involved. <i>1. on taking losses. Use a stop. IMO, this should not even be an issue. That's me though.</i> I do use a stop, absolutely. <i>One mans chop is another mans opportunity! The lazy man observes chop, the hardworking fruitful trader bags the the dollars!</i> Whoa! That sounds incredibly confident. Chop is always the bane of any trader ...or is it? If you have any suggestions or strategies on how to deal with chop, I would certainly welcome them. Thanks again.
whatever if you aint got the brains to figure it out I don't have the patience to explain it to you most of the time the market chops If it didn't we'd all be rich anyone who claims to make a living from the chop is just the next candidate to get wiped out when it finally trends
Nope. I would be extremely rich without the spread, non-fills, comms and slippage. Chop, is a little pussy kitten compared to the above.