Stop Using Stop Losses

Discussion in 'Trading' started by oldtime, Jul 1, 2012.

  1. FA007

    FA007

    Trading is not an exact science, it's more of an art. Most people get sucked into the idea that trading is scientific, and that they can somehow crack the formula, but that's wrong. Looking at a chart is like looking at a painting, it can be interpreted in many different ways, depending on the specific psychology and state of mind of the person observing it, most people due to lack of understanding or creative thinking will undoubtedly perceive the same thing, and that is were a pattern might form. I'm big on the MIGHT form, and also pay close attention to what I said before, about it being impossible to be RIGHT all the time, I don't have those ambitions of being right all the time anymore. I think outside the box, try to spot something in the market, make an exit and entry plan (both for if the trade goes good or bad), and then I execute. If I'm wrong then I'm wrong, the loss was cut early, I try to understand where I went wrong and I move on, because at the end of the day there's no right way to do trade, there's no exact science that can predict human emotion, humanity is unpredictable for the most part, except when it's not.
     
    #101     Jul 4, 2012
  2. Funny how those kinds of things always come across loud and clear:D
     
    #102     Jul 5, 2012