I'm not sure why you mention trading from a phone. Personally, I wouldn't do that as a day trader where precision and timing is important. Well, that's easy. If you lose money as a directional trader it's usually (always?) because you're on the wrong side of the market, i.e, BLASH becomes BHASL or SHABL becomes SHABH. As for why that happens - it could be explained by multiple reasons: 1. You have no idea what you're doing. 2. Moving stops and letting small bets turn into large losses. 3. You know what you're doing, but since probabilities are never certainties, you could place a bet that just don't work out. 4. You know what you're doing to some extent, yet other issues make you trade poorly, i.e., too high leverage, trading with money you can't lose, greed/fear influencing your analysis, FOMO, overtrading due to boredom, etc.
Thats highly unlikely, but any form of trading from price charts is generally based on trying to recognise opportunies from combinations of bars in the context of upcoming events that may cause price to move significantly. For example the 'step response' shape in the box often occurs, with an upside down version for falling price.
for discussion..had to point out that as i only trade the ES/MES then do not be surprised if some of what i say does not work with the likes of FX.. simple really!
well..trading from the phone has worked out well for me so far..but i do prefer the pc..obviously! if you know why you just had a loser..then that is fine..as next time you might be able to do something about it..but..if you don't know why..then how can you do anything about it the next time!
what if the method used can produce adequate LRT's with adequate repeatedly..which is the basis for successful trading! would this not be a "real edge" ?
i agree that lost opportunity is lost money..and staying in a bad trade is not a good idea..but..the trade is only bad if you lose more than you had initially intended to lose..for..every trade must be taken as a loser..only way..otherwise you might as well give it up..as it will only be a matter of time before you blow up your account..or several accounts as many have done!
I am a skeptic and maybe even a cynical guy of most things but i do like this post...there's a lot of substance in it, only IMO of course.
it is based on experience..big winners..big losers..small winners..no losers.. while it is possible to get big winners and small losers..i think most tend to let losers run longer than winners..as..it is human nature due to fear..hope..wishing..praying..etc a good approach is too always only risk the money you have made..or..to be more specific..only a portion of the money you have made.. it took me years to "cop on"..and i think most never get to that point..as..they haven't followed the golden rules..and..so have either lost all..or most..of their hard earned money.. this is not just in trading..any "idea" that puts your capital at risk..such as property..business ventures..rare coinage..vintage wines..and so on.. wherever there is money..there will be those who are willing..and able..to get the ill informed pleb to part with it..and as such.. "some things really do never change"