Good trading / Bad luck ?

[Priceman]

Isn't it funny how we all pat each other on the back when we have a winning trade and say "well done mate, great application"

On the flipside when the trade goes wrong it's "bad luck mate, you'll get it right next time"

Is it bad luck or misfortune or did we really understand what happened? Why didn't the market do what you thought it would do? Is it a fact that we should have never got into that trade in the first place? Why don't we post our losing trade charts and say "What an idiot I was there, I didn't understand what the chart was telling me, this is what I should have done". Are the people who are consistantly correct lucky or is it because they understand what the chart is telling them? There are signs all along the way.

Any charts that were real bad trades you entered can be posted if you want to. :cheesy:

Please discuss.

 

[shadowninja]

When I lose money, I stop trading until I know why I lost money/made the mistake. Usually it is a discipline thing. I seriously need to look at my discipline. How do you improve discipline?

 

[Splitlink]

If you have done a statistical test on your trading technique you will, almost certainly, have some margin of error that you accept. If you, therefore, trade on that basis and it is not profitable then that is what I would call bad luck. It should correct itself in subsequent trades, though, and then you are lucky until you have completed your target number of trades. Then you are due congratulations.

I know that I was lucky last month when I was down 60 points after three weeks and made 134 points in the last few days. My system did not work and I hit two, good trades that put me right. I was lucky to be able to have the pot to try once again, but I am facing the facts. There was nothing brilliant in what I did---sheer luck!

Back to school, again!

Split

 

[barjon]

....................Any charts that were real bad trades you entered can be posted if you want to. :cheesy: ...................

Priceman

Not enough room on the thread to post all my real bad trades

Common feature in most of them is getting too carried away with what seemed an ideal set-up and ignoring or shading the associated conditions that I want to see because the set-up looked so good.

I'll drag a few out of the "you pillock" file if I can bear to look at it

good trading

jon

 

[Splitlink]

Don't blush, Jon, I'm better at that!

Split