I'm Nearly in THAT 90% Category

This is a discussion on I'm Nearly in THAT 90% Category within the General Trading Chat forums, part of the Reception category; Originally Posted by AppleInvestor The problem with most traders is that they think there's a "System," all they have to ...

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Old Dec 21, 2009, 5:26am   #91
Joined Nov 2008
Re: I'm Nearly in THAT 90% Category

Quote:
Originally Posted by AppleInvestor View Post
The problem with most traders is that they think there's a "System," all they have to do is find the right system, learn it, employ it, make gobs of money. These losers think they need to be in the game all the time, if they're not in the game they're missing opportunities. To them, a missed opportunity is the same as a loss. Dumb asses.

There's no system, there's only observation, evaluation, and reaction. Just like real life. The other important thing is a man has to know his limitations. What I mean by this is, determine what type of trader you are, what is your tolerance and capacity for risk. Until you can answer these questions, you're doing nothing more than fighting the wind.

And like real life, the way you make money, they way you become a success, is to become skilled, develop discipline, and exploit opportunities. The more experience you garner, the less you'll need to trade.

-ernie
AppleInvestor

i've seen there are people admit themselves willing to risk x amount of capital, but when they funded their live accounts they completely ignored what they've just said and attempting to target 50% gain a week, his account went bust in less than 2 weeks..
everyonerich is offline   Reply With Quote
Old Dec 21, 2009, 7:26am   #92
Joined Mar 2007
Re: I'm Nearly in THAT 90% Category

Quote:
Originally Posted by AppleInvestor View Post

There's no system, there's only observation, evaluation, and reaction. Just like real life. The other important thing is a man has to know his limitations. What I mean by this is, determine what type of trader you are, what is your tolerance and capacity for risk. Until you can answer these questions, you're doing nothing more than fighting the wind.

And like real life, the way you make money, they way you become a success, is to become skilled, develop discipline, and exploit opportunities. The more experience you garner, the less you'll need to trade.

-ernie
AppleInvestor
Risk tolerance depends on reward.Most have no idea what their reward potential is going to be.If a trader knew he was going to make 100k , he would risk 30k but if he did not know his reward he would risk 1 k and not trade properly.

Only by back testing ,forward testing and analysis will the trader know his reward.He has to know his systems thoroughly before writing programs to back test.
oildaytrader is offline Trading arcade or proprietary trading company   Reply With Quote
Thanks! The following members like this post: Rossini
Old Dec 22, 2009, 11:49am   #93
Joined Feb 2009
Re: I'm Nearly in THAT 90% Category

Hi sangfroidFX
post your entries and exits for the day and I'll have a look, and give you some constructive feedback!
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