the truth is clear , just slow down your thinking,to how sure am i,how many of my setup factors are a go,if not,there will always be another sunrise
Thanks for the great posts! Truly inspirational. Sometimes I catch myself drifting to the thinking that this trading is just a game where some schmucks make money selling snake oil, but posts like those are a good reminder that there are really specialists mastering the game. BR, Ss
wow..part 1 and part 2 are amazing! RN ..are you interested to work in shanghai or in asia? you are the young talent from the west.
Someone who understands and one of the best posts on ET. Each of these segments takes years to learn and is a great guide for research. If you don't understand it or don't use it then get stuck into that topic. There are also hints of hidden depths that are way beyond the grasp of all but the most experienced, determined and knowledgeable traders. Very hard graft combined with creative thinking or an exceptional mentor to pick this up. Nice one
Please allow me to address all the wonderful responses in one post... To all the Very Kind replies â Thank You Sincerely As to starting a journal â most of the time I have nothing to sayâ¦, and on rare occasions when I think I may have something â my kids always assure me â I donâtâ¦. As to moving to Asia and trading â Thank You Kindly but Family and Home are here⦠(and how I wish I was still young..) Xspurt, It truly was hard graft, and a lot of thinking â still is some days⦠For other than a Very Kind Gentleman here (you know who you are ) helping me learn Easy Language â Iâve never had the honor or privilege of working with a mentorâ¦. Itâs the reason I try to help out in whatever small way Iâm ableâ¦. I still distinctly remember what itâs like being without an honest source in which to turn⦠Take Care All Respectfully RN
why not bring your whole family here .. you kids can master both english and mandarin and china/shanghai is building the biggest disneyland on earth.(your kids will love it) as an expatriate working in asia .. life is not bad at all .. company provides condo for your family, car and maybe driver & maid too..company pays for all the tuition fees for your kids going to international school. However, i also understand why you don't want to move to asia because "Home is where the heart is ..." and not everyone likes chinese food. Good Luck and all the best to you and your family.
P/L for this week: -5,300 on 376,000 shares 0, 0, -5,+5,-5 A relatively quiet week, yet a poor performance considering a position held from last week (and still holding) netted me nearly 10k for the period. I raised my max shares per position in order to trade a few single digit stocks (not my usual play), and it started getting very tempting to raise my position size for other trades as well. Again, a weakness to try to change things when consistency has yet to be shown. For me when discipline begins to unravel, it usually starts one strand at a time: an extra off-the-cuff overnight here, a double-sized entry for no real good reason over there, etc. Before I know it I'm holding 7 overnight positions with a variety of justifications and scalping ipo's 4k shares at a clip. Fortunately I came to my senses friday morning and did some damage control before things got out of hand. I started another thread on the topic of risk and position size/duration: http://www.elitetrader.com/vb/showthread.php?s=&threadid=194920 Although not stated at the outset, the ultimate issue I wanted to discuss there was how a discretionary trader deals with taking profits. There are certain extreme cases where one enters a trade and the market just takes off in his direction, far beyond what he had imagined; my opinion is, in such situations a trader basically will take what he believes he ultimately deserves. But is this generally true for ALL trades, even ones where an apparent technical, fundamental, PA target presents itself? I'm not so sure myself; the point of it all for me is to get back to how a trader eventually increases not only his risk tolerance, but also reward tolerance. It's all a big jumble in my head atm so feel free chip into the discussion there.