Discussion in 'Psychology' started by Kovacs, May 27, 2009.
Good points. Too much leverage also can be counterproductive., because of stats .Even if something works more than 77% of the time+ not many do well, long period of time- it can + has been wrong[unprofitable] several years in a row. It could even be wrong[unprofitable] 23 years in a row, out of 100 years, but usually not that horrible LOL
Some people never overcome their fascination with their handheld devices.
Not one breakthrough but a few:
Most Important: Never being bothered by the outcome of one single trade - always looking at monthly numbers.
Never ever moving the stop - why? see above. This is a business of probabilities - you won't win on every trade.
Trading small - that way the losses are not big and you don't lose confidence and emotional capital as well.
Marvellous...can u actually do all these though? How about after a string of losses, say 3 losses. After 5 losses? 10?
yes i can, because that is the only path to trading correctly, there is no other way to do it.
Works 77%, like playing Russian Roulette, to win, you only play big once, then quit if you survive, otherwise luck will catch up with you eventually.
Exactly. It's like flipping a coin. If you get 10 heads in a row, has the long term outcome changed?
Speaking of 7, Smith & Wesson changed the six shooter; into a seven shooter, some revolvers.Marlin microgroove has had 14/+ capacity in .22 rimfire for along time.
How is this different from using a trailing stop?
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