You either make money or lose money, with each trade. It's truly that simple and basic. Don't overcomplicate some things in life. And each trade and situation is rather independent of one another. You're only as good as your last trade, or fuck up.
WRONG. Your last trade does not define your overall success or failure as a trader, nor does it define the success or failure of your methods, nor does it define who you are as a person.
Your argument is kind of false, That's like saying just because you saw Barack Obama, or Joe Biden, or the Pope, or Ghandi, or the Dalai Lama or Martin Luther King Jr.....punch his wife in the face recently....don't judge his life based on that moment, he's still a good, overall, person, A trader is similarly only as good as his last trade, if he blows up or suffers a serious loss....then he is a discounted, weak, trader,
%% I WOULD not, even though that may feel good + could profit sometimes [2] TWO Exception$ to that + i may do it once........ on a short term trade, as part of a wise battle tested plan. [3] Another reason to increase size on a loss\ if you had not put on a normal size starting\out\ on a trade or investment[Scale in plan] [4 more]Another good reason, i would not increase size [except noted above]; markets change , find some thing better than try to rescue a loser or underperformer. 200 day moving average = another good metric.
A traders' last trade tells you one thing... the outcome of the last trade. The false argument you've made in this post is akin to ultimatum... take the vax or lose your multi-decade career. Get into a fender-bender regardless of death or injury, lose your driving privileges. Have a losing trade and you will be labeled as a failure. Your Obama Biden Pope Ghandi etc argument wrongly uses ESG cliche and norms, as well as some morality, as an override for history. STOP BEING RACIST!
If you are day trading then the position should move in your direction soon. If not then don’t average losers.
You say that and it is pretty common trading wisdom but then you have guys like s0mmi...who has done really well with intraday stuff...average losers all the time. have a max pain loss level then average if trade goes against you until it comes back. This method gives a really high win rate but you get the occasional huge loss that most people couldn't handle. I like the idea of the trade going in your direction quick or get out...I need some type of time stop but have been busy with other subjects to test ideas on it...its on the list lol. Thanks.
I think "you're only as good as your last trade" makes sense if you look at it from the angle of "how you handled that last trade, win or lose, can tell you a whole lot". Like, did you ignore your stop and continue to let it go against you...or get out when you were supposed to? Are you trading following your gut and is it working out? are you trading with confidence and discipline? etc...not so much just from the perspective of "if you lost money on the last trade you suck ass" lol.
Good points, TW, except i like part of MacBook extreme vieW \partly; Bernard Baruch said ''losses = laziness'' What if BBeruch is only 80% right on ''losses = laziness?? Rev King , [like most of the crooks he noted, ]was so wrong on Vietnam war; no wonder ''he never made it to the promised land'' B Baruch was trader not a gambler or racist. A short term trade by definition has to move shortly in your direction /profit.