any success of humans in any filed of knowledge is based on discovering the pertaining laws of the universe and building a method upon them market also has certain laws, and without discovering them and building the method upon them there are no successful traders
Football management is the most difficult job , but this guy was a great person , he outlasted in extremely difficult circumstances.He is the most succesful manager ever. “Sir Alex Ferguson has outlasted 5 American Presidents, 5 British Prime Ministers, 10 Liverpool, 18 Chelsea and 19 Man City Managers.” learn from a winner , a real winner http://www.motivated-and-competent....-alex-ferguson-has-enjoyed-long-term-success/ https://en.wikipedia.org/wiki/Alex_Ferguson Sir Alexander Chapman "Alex" Ferguson, CBE (born 31 December 1941) is a former Scottish football manager and player who managed Manchester United from 1986 to 2013. He is regarded by many players, managers and analysts to be one of the greatest and most successful managers of all time.[4][5][6][7] https://www.google.co.uk/webhp?sour...&espv=2&ie=UTF-8#q=alex+ferguson+psychologist https://hbr.org/2013/10/fergusons-formula http://www.squawka.com/news/why-sir-alex-ferguson-hired-his-psychologist-on-the-spot/510884 https://www.elitetrader.com/et/threads/winners-versus-losers.303364/
Good response. Keeping it simple is what I have been trying to do lately. If I don't know something while I am trading, I simply do nothing. I write it down and discuss it with myself after the market close. I enjoy it.
Funny you said that. It happened to me so many times it is not even funny. Finally I stopped using stop loss on my trades. I can name you examples after examples: FB bought at $25 just after IPO put a stop loss at $20 and promptly got filled. The stock then recovered and never looked back. AAPL bought at $530 put a stop at $450 blew through and lost it at $400, near the bottom. Obviously someone was watching all those stop loss orders and decided to take them out. I now watch my trades and pull the trigger when I have to instead of an automatic stop loss.
Buy a put lower , it is often cheaper than stops , and sell a call much higher (call will pay for put cost).
May be try to at least always have a "disaster" stop loss that does not wipe out all your capital. Or at least, just put into you account the capital you are willing to lose with no upset. Because there can always be a disastrous event ( 9/11, etc) that can move prices significantly in panic mode.
May be psychology/mindset/spirituality is way at the bottom of the list of what people look go into when they take up trading.
I wrote an email to Rande Howell , psychologist thanking him very much for his free youtube videos , and told him "The first thing an aspiring trader should be taught is psychology ".It should be top of the list. Most trading books only cover trading i.e technical anylysis , mas ,indicators , price action etc , but no mention of psychology.Books are written by writers , most never traded , so they would not know what to write about. Pschology is ten times more important , in my view.Trading is a stressful business , during trading our minds are blocked and overcome by stress , emotions and the need to be right , all the technical is ignored or takes less priority in trader's minds. https://www.google.co.uk/search?q=s...ved=0ahUKEwj35_evudfQAhWpC8AKHY-0AEMQ_AUIBigB http://www.investopedia.com/university/introduction-stock-trader-types/kiss-traders.asp K I S S https://www.elitetrader.com/et/thre...-processing-information-about-a-trade.303149/