Interesting career advice, So how long did you stop trading for until you are no longer angry when trading and not end up becoming a front-line soldier. I do get angry when I am trading, I just try to not let it not affect my trading decision, atleast most of the time. Reversing trade is a strategy I am researching to improve my daily winning %.
Have you ever consider becoming a business coach? Your word is very motivating. Like stuff came out from Tony Robbins
I do day trading. About 40% of my trades are based on trend reversal. I am glad to say that if I am angry/frustrated/vengeful, I'd stop trading right away, and do other things like go for a run. When negative emotions are very high, there is a very high chance we will do revenge trading and most likely it is trend reversal trading.
Good Evening doubledoubledoublecup, Thank you for the compliment. No, I have not consider being a business coach, perhaps a trading coach yes, but I instantly rejected that thought for the sake of my peace and sanity. Plus, knowing what I know now, I need my orders to fill! My words are not motivating, they are what you do not hear or read often, Truth with a mix of brute force painstaking experience. Never forget, who you are. You are simply a one man show and your goal is to make money trading, and no matter what you say or how you think about it, you better HURRY UP! Sure many will tell you take your time, and all that feel-good-talk, but the harsh truth is, the longer you stay at 1 ES contract the poorer you are and the further away you are from 500 ES contracts. And by time you figure it out, you still have to get from 1 contract to 500 ES contracts. ET members will like you at 1 ES contract, but I guarantee your spouse will NOT and eventually your spouse will tell you to quit for wasting time and nothing to show for it, but an unpaid pie-in-the sky trading skill. An unpaid pie-in-the-sky trading skill.
Thanks for explaining this scenario, and yea, this kind of false low happens everyday. Maybe reversing with a confluence of higher timeframe stand better chance of working out.
You talking about your 1-tick experience in another thread piqued my curiosity. So I tried it in SIM yesterday, using a 3-point stop, and went 8-0. Tried again today and went 10-0. Of course, that was SIM and we all know what happens when we move from SIM to real $$. You'd have to start with ES, too, so no micros and slowly scaling up. And like I said before, you better not lose... ever! lol
Hello ondafringe, I absolutely love when my ES trades give me a loss. I LOVE it with a passion! I look forward to my ES trade losses, and happy when they come.
Hello ondafringe, You not going to win unless you are loser. Worrying about a loss in trading is like having sex without a condom, then complaining cause you got a STD or AIDS. STD or/and AIDS comes with unprotected sex, just like losses comes with trading business. You love that raw sex be ready for the STD or AIDS that comes with. Love trading winning or losing. We gamblers, not priest or engineers.
There is no rule based trading system that is sustainable over time. The only system that can make money is one where you never realize any losses.