Missing a Move

This is a discussion on Missing a Move within the General Trading Chat forums, part of the Reception category; Whenever we miss a big move and then try to find some pattern, indicator, rationale, or modification to make to ...

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Old Feb 5, 2010, 11:49pm   #1
 
Joe Ross's Avatar
Joined Nov 2003
Missing a Move

Whenever we miss a big move and then try to find some pattern, indicator, rationale, or modification to make to what we are doing so that the next time we will not miss such a move, it is a part of the hunt for something magic; a continuation of our quest for the holy grail of trading.

What a terrible mistake to allow yourself to make. Winning in the markets consists of making some small profits and some larger profits on a regular basis. Obviously there will be some losses. We regularly want to keep losses small, but there are times when a loss will get away from us and turn out to be bigger than desired.

If adversity causes you to become upset, then you really need to examine your thinking and your approach to trading. Your trading plan must allow for disappointment and loss.

You've got to believe in what you are doing and be able to trade from the knowledge that when you follow your rules and your plan, you will make money from your trading.
When you become disillusioned and start to change your plan, your rules, or both, you are setting yourself up for a sucker play. The worst thing that can happen to you is that you will lose the courage of your convictions. Without that courage you cannot trade with any level of confidence.

This is why I encourage you to write out the reasons and rationale for every trade that you make until you have developed a keen recognition of the trades that are your trades. Write out your trading plan every day for every trade. Then you can go back over your trading and be able to see why and when you are successful.
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I make these posts for general readership. I do not now nor ever have expected other traders to do what I do. Trading is something that has to be personalized. My hope is that what I post may be helpful to many traders who use the forum. Ultimately, trading has to become your own.
If whatever you are doing works for you, then keep doing it.
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Old Feb 6, 2010, 4:03am   #2
 
DionysusToast's Avatar
Joined Dec 2009
Re: Missing a Move

Can't... help.... myself...

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