Prudent Risk Management Is The Only True Edge In TRADING

Discussion in 'Risk Management' started by Buy1Sell2, Jul 6, 2015.

Is Prudent Risk Management the only true edge in trading?

  1. Yes

    53 vote(s)
    29.9%
  2. No

    124 vote(s)
    70.1%
  1. In my opinion MM is not the only skill set, cause if the trade is not timed right then you will get stopped out. Now if you are not stopped and use add ons and martingales then you are not a professional, you are a gambler, whatever it is it means you have timed it wrong. I would say that it is 65% MM and 35% timing. It is a skill.
    Now that is my opinion but this question has no right answer cause each trader has there own strengths and weaknesses and they structure the trades accordingly.
     
    #211     Feb 14, 2016
    Buy1Sell2 likes this.
  2. J_Smith

    J_Smith

    There is absolutely nothing wrong with getting stopped out, once you don't sit there feeling sorry for yourself, and miss the next signal, for you must trade the signals as they manifest, otherwise you are not playing the odds correctly.

    Timing is everything, but no matter how good you get at timing, you can not be right the whole time, nor do you have to be.

    Making money is really easy, if one justs accepts the fact that anything can happen at any time, learn how to read charts, understand basic risk management, trade the signals when they appear, take your loss or profit, and as RN says...

    rinse repeat rinse repeat

    It really is that simple, ask RN:)

    J_S
     
    #212     Feb 14, 2016
    Buy1Sell2 and wizard4444 like this.
  3. I agree 100%, as long as know the odds are in your favor getting stopped out is part of the game and there is nothing wrong with it :thumbsup:
     
    #213     Feb 14, 2016
  4. J_Smith

    J_Smith

    We all know this is why so many fail, but most will not admit it, as it shows they have not mastered what is required.

    I have traded with some of the best there is, have seen things that very few see, and, unless you identify, and take your loss, when wrong, then it is all of no value what so ever.

    But, take your loss, when you know a bit about timing, and then it becomes as easy as picking apples off the ground.

    I will not belittle anyone, of course some ways are much better than others, but without taking losses, you are doomed to failure, and we have mentioned why.

    J_S
     
    #214     Feb 14, 2016
    Buy1Sell2 likes this.
  5. TKOSTA74

    TKOSTA74

    hi j smith, one question for you.
    are you a professional trader and if you are for how long have you been.
     
    #215     Feb 15, 2016
    Buy1Sell2 likes this.
  6. J_Smith

    J_Smith

    It really is irrelevant what "title" any person has, how big their house is, or how much money they have.

    We all arrive here with no clothes on, and when we go, will eventually end up the same way.

    How easy, or how hard, we make it for ourselves during our dress up period, will be determined by several factors, but the most important factor is how we use the grey matter, as that determines all of the above.

    A "professional" means nothing to me, as I know many "professionals" who are as thick as 2 planks put together, and confuse their ability with circumstance, for, when you set rules and regulations it can transform an ugly frog into a charming prince, but he is still an ugly frog, no matter what!

    17 years, biggest fool ever born, knows absolutely nothing about anything, and a "gardener" :)

    J_S
     
    #216     Feb 15, 2016
    Buy1Sell2 likes this.
  7. J_Smith

    J_Smith

    Prudent risk management just made me some money for a nice breakfast, before I start pulling some weeds!

    J_S

    Screenshot_2016-02-15-10-59-34_1.jpg

    Screenshot_2016-02-15-10-59-47_1.jpg
     
    #217     Feb 15, 2016
    Buy1Sell2 likes this.
  8. J_Smith

    J_Smith

    Who knows, maybe I will get filled before, or just after the open?

    Either way, I am not too worried, as it is a lovely spring day out in the garden:)

    J_S

    Screenshot_2016-02-15-13-58-22_1.jpg
     
    #218     Feb 15, 2016
    Buy1Sell2 likes this.
  9. J_Smith

    J_Smith

    Forgot bout o bama day, was wondering why I wasn't filled:rolleyes:

    Oh well, will leave order in and see what happens.

    J_S
     
    #219     Feb 15, 2016
    Buy1Sell2 likes this.
  10. Redneck

    Redneck

    It not the only one - but it is the hardest (and most vital) to master imo

    Loser doesn't make one a loser..., nor does a winner make one a winner

    But it damn near impossible for many to separate their self from that illusion

    Society does a good job of perpetually proliferating the bullshit


    RN
     
    #220     Feb 15, 2016
    Buy1Sell2 and Simples like this.