What was the ***last*** thing you had to master before becoming profitable?

Discussion in 'Psychology' started by Kovacs, May 27, 2009.

  1. So you learned to swing a baseball bat to get profitable?

    Or were you trying to be funny and just spelled baiting wrong in effect ruining the whole joke?
     
    #51     May 28, 2009
  2. I'll take #2 for 1000.
     
    #52     May 28, 2009
  3. Learned to average up and minimize my losses.
     
    #53     May 28, 2009
    johnnyrock likes this.
  4. Learning patience, understanding myself, and confidence rebuild.
     
    #54     May 28, 2009
    CSEtrader likes this.
  5. Pita

    Pita

    I would say size in relation to account balance is one of the biggest problems and to overcome it is a hurdle where most fail because unavoidably the way to consistently taking out money from the market takes its contribution. You can be the best chart reader and still lose money if you don't have the balls to hold onto proper planned trades. So how should you plan trades?
    You will have losing trades and after your entry you will simply NEVER know for sure where the market is going though you have a good chance to end up taking when you are ready to give. Now that doesnt mean you should press the button whenever you like but when recognizing a setup that seems well known to you you must not hesitate to find out the consequences of taking it. With other words you must filter all good and bad out by yourself. Learning the breath of your chosen market is essential, letting winners run is essential, cutting losers is essential so I suggest to find one's risk tolerance first then cut the intended size into half whilst doubling the stop and you still play with the same figures. You must feel the pulse of the market in order to surf its waves profitably. Win a bit and lose a bit and when you have found your style you will see there are no more questions that anybody else could ever answer and then comes the time to reconsider size. Remember you have to go for consistency and not for $$ in the first place. Money comes later and will lose most of its importance as being a target anyway once you are able to take it.
     
    #55     May 28, 2009
    Vindago, MichaelGhabour and artes33 like this.
  6. After simplifying and meticulous trade tracking (3 min. candles/futures) to the point of having a defined entry point including a trailing stop (yes, I found them invaluable for me and my personality), I place the resting entry order and when it hits, I get up from the computer and move to the den sofa or leave the room, allowing the trade to work.
     
    #56     May 28, 2009
  7. member commision and margin rates as well as profesional front end software
     
    #57     May 28, 2009
    777 likes this.
  8. Good job explaining yourself to such an "Educated" trader. Lol. I have to admit that you're mostly right.

    Still, I wouldn't allow the sign up date of the messenger to prevent me from receiving a good message. There are many people that can't trade at all that have some good ideas.
     
    #58     May 28, 2009
  9. :confused:
     
    #59     May 28, 2009
  10. plan

    plan

    patience
     
    #60     May 28, 2009
    CSEtrader likes this.