<iframe width="420" height="315" src="http://www.youtube.com/embed/rY0WxgSXdEE" frameborder="0" allowfullscreen></iframe>
On a serious note. No. If you start messing around with you risk reward parameters you will soon start cherry picking the signals that your system generates. Then, it is all over, why? You will sooner or later pass on the trade that you should have made on a day that the market crashes. Then, in revenge mode, you will lose more. Here is some advice. Close you futures accounts. Move over to fx. Open an account with Oanda, and fund it with one dollar. Seriously, one buck. Learn to read price action. Trade accordingly.
Courage, Patience and Flexibility are the three qualities neccessary for success in any endeavor. True, if you start messing around with your parameters you may have just sacrificed courage and patience for flexibility. But too much courage or patience can also bring you down. If you are patient a time will come when you have the courage to be flexible with your system.
Noobs have to clear their mind of all the rubbish their memory banks are stuffed with , from internet , books and forums included. The stuff on the net may not be appropriate , books are written by losers and forums can have bad advice and info.The 5 % won't advise them.
no kidding, not just new traders but especially old traders. Things we read when we were kids became unquestioned gospel. It's not that the 5% won't advise, it's just they are speaking a different language.
Noobs overthink stuff. I know I did. I know the math formula to most indicators out there. I have written some of my own, then it hit that all these were derivatives of price. To truly get no lag, you have to learn to read price. No way around it. Losses will not be avoided. Strings of losses will not be avoided either. Everyone is looking for how to avoid chop. Chop will pass. Keep trading. Markets are directional at the end of the year, by the time the year has passed. You want to be in on that.
yeah, but you are still inside the box. Nobody thinks about price anymore, it's all about probabilities.
you're probably right. Some forward thinker is working out support and resistence levels for probablilities.
It is actually not new. Analysts as early as Gann and Wycoff would look at support and resistance and determine some rudimentary probability based on how often price respected that level.