His advice is to make sure that my stops are always smaller than my target. Based on what you just wrote, that's not necessarily feasible. You seem to be disagreeing with him, but telling me to heed his advice.
As I said, my disagreements amount to quibbles. Essentially his advice is sound. Your problem is not targets and stops. Your problem is that you're focused on (a) whether you show a profit or not and (b) how much that profit is. Neither of those matter. What matters is whether or not you trade well. If you trade well, you will automatically make money if you have a consistently profitable trading plan. But you don't have a consistently profitable trading plan. You appear not to have a trading plan at all, or, if you do, it sucks. It sucks because you are inconsistent. There's no reason why you can't have a winning day every day, or nearly so. You cannot achieve consistency without a consistently profitable trading plan. If you don't know how to develop one, then your focus ought to be on that, not on how much money you made or lost today. Your claim that you trade based on "technical analysis" is meaningless since you have not defined it, unless you are defining it by means of whatever trading plan you have, in which case your plan is based not on technical analysis but on a misperception of it. Claiming that your successes and failures occur because technical analysis "sometimes works and sometimes doesn't" is an unfair criticism of technical analysis, partly because you define it incorrectly and partly because you are responsible for everything, not your platform, not your data provider, not your chart (or whatever you use). A tool does not "work". A tool just is. What doesn't work is your implementation of it.
You just contradicted yourself.... in the previous post you stated "Most at your stage..look for better setupsâ¦This is bullshit" Although I agree with most of what you said in the previous post about keeping losers smaller than winners is the only way to be long-term profitable, a world class setup(s) will help contribute towards that profitability. High quality setups either minimize risk, enable a decent win rate, or both....throw in world class trade management and account management and you are now a winning trader There is a such thing as "better setups"...I could show some setups that would make you crap your pants...but I won't In a previous post to pinkman I challenged him with... He sort of blew me off..which is typical of losing traders..so I said "ok, he'll have to learn the hard way"...a few posts later and now he's begging for advice
Nobody's picking on you, just acquainting you with market realities. If you want pep squads and cheerleaders, there are plenty of those around. Keep in mind, though, that nearly all traders fail, so the cheer may not have as much value as you think it does. Find cheer in trading well.
Touché - I screwed up How about jumping from one method / tool - to another - to another â without ever fully developing/ understanding one As for the better set up â I have TP ====================== PM I can focus and trade... or post â I canât both Iâll be back tonight and respond, or earlier if I get done In the meantime â this ainât personal, its business RN
Couldn't resist another short on the ES. Price action looked like buyers were running out of stream. Shorted the ES, but managed it badly, afraid to let profits turn into a loss, and took a little from it, but it CRASHED shortly after my exit, lol. Still. So, now it reads: Week 1 = +643 Week 2 = +927 Week 3 = +589