mm, would it help you with your trading strategy if you traded during daytime without any dayjob distractions?if so, how would it help? would you be able to time your entries better or control stop-loss exits or trail your profit exits better? is there a reason you cannot automate your trading? do you find your capital sufficient for your strategy? are you over leveraged? are you trying to build up your capital to daytrade or? ir are you trying to achieve consistent monthly profit so you add additional funds to your account and/or increase leverage? regards, tihfa
Yes, yes (I might learn faster), yes. Yes, there is a reason I can't automate trading. Yes, my capital is sufficient. No, I'm not over leveraged. Yes, I want to build my capital, isn't that's always the goal with trading? Trading a an intra-day time frame might be my next move. I have some ideas I need to test during the day. There is no reason my methods can't be applied to intra-day trading. Yes, he doesn't know what he's talking about when he gives me advice.
I remember the 1999 crowd: "you have to take big risks to make big money". That is exaggerated with regard to what you said but related. Risk can be minimized until it's almost gone. Risk comes in two forms. It's either risk of ruin from a series of losses or risk of a large loss. The latter can be guarded against by having stops residing with your broker or with the exchange at all times. The former can be negated by having a good methodology. I worked SO HARD trying to maximize gains.. the result was that I learned a lot, learned programming and all the computer skills, etc.. but I found that waiting for the very high probability trades with the very high reward/risk ratio is FAR better...
You've just hit the nail on the head. What I'm missing is something along these lines. However, because future price action is not knowable, it seems like this is harder done than said. The only thing I can do is test patterns. I'm going to trade 1-3 contracts on one insturment until I can hit 48k, after I test some patterns. It feels my edge right now has been more or less neutral than I had hoped (though it has only been 1 month). Even though I know it can demonstrate important turning points in price, I have to watch price very closely on a lower time frame to make sure my trades are logical. @ 30k (+25%)
@ $26,XXX (+8%) No open positions. I obviously need to make adjustments to my plan. Spinning my wheels for 8 months now.
Why do you post that every time my equity decreases? You are a terrible troll, and not even accurate. You didn't give me the proper quote that I started quoting, THE SECOND TIME. You are obviously obsessed by my quotes of anonymous. Stop mucking up my thread, or I'll request to have your posts deleted...
So, I decided to prove something to a friend. I'm going to begin trading exactly like this person except fully utilizing all of my capital at my discretion. I have around 26k, so I'll be opening enough positions to utilize most of this, and at the same time have enough equity that I don't meet a margin call. No edges, just price action. It's a very subjective approach, but I know it works over time. I know over long term, it is very rewarding. I have to constantly remind myself that I should not fear any single trade, unless it breaks my basic rules.
It is sort of interesting and funny that people will post when someone loses in their journal. Sort of making one feel superior I suppose. I am by no means a good trader. I am purely treading water as I try to improve. I do like constructive criticism but I do find it interesting that people will post more on threads when people go on losing streaks. I don't want to jinx anything. I'm just treading water so I am humbled when I say this. Last time, I mentioned about my treading water, I lost big the day after. I get myself psyched out too often.