leovirgo, it took me a few years to really understand the subtle difference between a system and a methodology and many would argue it's all just semantics and there is no difference between the two. I suppose it is a case of how much time and effort one puts into trading.
I would agree with you and say that a system is 'fixed' or rigid whereas a methodology is adaptable and evolves along with the skill and experience of a trader. Another person used a better expression and referred to a system as being inert. Perhaps you could say that a traders edge is what makes the difference between a system and methodology.
Yes, I have been killed in the past and when I look back I can pinpoint exactly why. It has nothing to do with the market and everything to do with me either breaking my rules or trading at a time when I was not nearly as experienced as I am now.
I always give practical tips but they are either ignored or criticized so I don't bother much anymore. I tell people what HAS worked for me. I tell people what HAS turned me into a better and profitable trader and what I get in return is "nonsense because the market is this and that and nobody can do this or that.....etc".
But, because you asked with such sincerity, I will try giving you some practical tips.
1) Study your losses to find out and learn what you are doing wrong so you can avoid it.
2) Study your winners to find out what you are doing right and repeat it.
3) Always trade with a stop placed as close as possible to your entry.
4) Study, Study, Study, Study
5) Make notes whenever you are trading or sitting at your computer observing. Make notes no matter how significant or insignificant you think they might be. A thought or an idea might just be the seedling to an entirely new methodology.
6) Do not take guesses or punts, you should only trade on a near certainty.
7) Do not force a trade, let it 'arrive' naturally.
8) You do NOT have to make a trade everyday. This is very important!
That's all for now.
