I want to break something

Discussion in 'Psychology' started by TradingPilot, Aug 7, 2008.

  1. Stop putting on broker side stops. Just use your head, stop out yourself, also set your stops a little wider. 10 points YM, gives you no room to breathe.
     
    #11     Aug 7, 2008
  2. Keep a desk drawer full of cheap calulators.
     
    #12     Aug 7, 2008
  3. With a 10 tick stop get use to it. If you have any chance of being a trader you better get that emotion out of your system. You can't profit without being willing to lose. I would say on YM with a 10 tick stop will most likely get stopped out 3 or 4 times every 10 trades. I have found daytrading but not scalping 10 ticks is pretty tight for YM. It needs a good bit of room. I use 20 to 25 ticks. But it all depends on your stats and your plan. I suggest sim trade if you don't have those things tight and your emotions in check.
     
    #13     Aug 7, 2008
  4. Ask Alex from Pureschtick. That happens to them all the time only it's a 40 point stop-out.
     
    #14     Aug 17, 2008
  5. Why would Alex feel angry? It's not like he's actually trading the calls live with real money.
     
    #15     Aug 17, 2008
  6. Good Point-I'm getting older so I tend to forget things.
    thanks for the refresh.
     
    #16     Aug 17, 2008