@nysestocks Are you still getting what you want out of the market? It certainly appears so... There are really only 2 things one needs to know about trading the markets, ...and they come from unusual places ...and are not so obvious. "All warfare is based on deception." ----Sun Tzu, The Art of War "There are two kinds of people in the world my friend, ...those with loaded guns, ....and those who dig." -----Clint Eastwood From these two pearls of wisdom all else can be derived. Keep on digging nysestocks!
Ha! I've learned a little and laughed a lot reading this thread. Yes, I guess I'm a fish that spends much of my time swimming in the deep end, but always hedged with a life preserver. I do agree with you that trading reminds me of gambling, specifically âBlackjackâ. Counting cards for instance is primarily about money management. Depending on the count, I may go 8x my minimum or take insurance, or hit a 14 etc. But most importantly, I donât gamble with money I cannot afford to lose. That profoundly impacts my decision making. I understand that we are all in this for the money. But it is THE FEAR OF LOOSING MONEY that so often interferes with our strategies and execution thereof. As was stated earlier in this thread, almost all trades will make you money if you have patience. Doubling down at a strategic point can help you make it back faster just as it can with Blackjack ⦠but it will take an adjustment in the timeframe. Thus time vs. cost becomes a determining factor. Is there a better place for me to put my money during a given time frame, or do I truly believe this trade will eventually payoff within an acceptable time frame??? Eventually, unless youâre Short at a bottom, the market will come to you ⦠like the oceanâs breaking wave. And your patience and faith will be rewarded! And by the way, what did you mean by âOPPORTUNITY COSTâ?
TH, the only time you need to worry about your emotions is when you have made good money! Your decision to place a trade should be the same each and every time you trade - the amount you place on each trade will depend on several things, including how much money you have available to you at the time of placement!
Buy Low does not mean Buying The Low point of a swing! If I wanted to imply that then I would have said BSLASH Another big misconception held by the majority of traders!
Can't disagree with any of that, but "good money" is very vague. It varies per person when it comes to one particular trade, as well as a years worth of trades. People will sabotage themselves over multiple timeframes. (Trying to be civil, here)