"I mean whats gonna happen next, solicitors supplying crack to prisoners.......... ohhhh.... "
Well that would be a step up from the usual mediocre crap they dish out ..... yes I have an issue with solicitors ..in my wider than desired experience we have no other profession so full of overpaid mediocrity ! Payment on performance would lead to widespread hunger pangs in the profession.
Well that would be a step up from the usual mediocre crap they dish out ..... yes I have an issue with solicitors ..in my wider than desired experience we have no other profession so full of overpaid mediocrity ! Payment on performance would lead to widespread hunger pangs in the profession.
Back to topic ...let's spell it out Rude...
For example...... our 10pt chappie as a success rate of 40% with his rather tight stop of 10pts
Our other chappe using a wider stop at 25 pts has a success rate of 65%....
So who's the winner if he's sorted out his psychological needs to be right ?
For example...... our 10pt chappie as a success rate of 40% with his rather tight stop of 10pts
Our other chappe using a wider stop at 25 pts has a success rate of 65%....
So who's the winner if he's sorted out his psychological needs to be right ?
fxmarkets
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As old Joe Ross, said, nice bloke, "Go Deep" as I said on another thread do people think when they are planning a method, do they base it on random market theory or non random, most ? I assume think its non random, so what is the reason for entering your position here if you see it as non random, hmm people dont think about it do they ? just see, indicators candlesticks, the las vegas shopfront of golden nuggets flashing before them.
Go deep, grab joe's bootlaces.
Go deep, grab joe's bootlaces.
Let's go further then....when Livermore said "sitting was what made the money" what was he saying ?
When Loeb said "sitting on cash is the most difficult thing a trader can do" what did he mean ?
My take is this... out of the vast number of potential entries intoa trade very few offer the combination of risk reward and probability that will carry you well outside of the marginal area of the equity curve.... consequently the best first stop is stop taking trades that do not stack up with high probability and low risk .... price action unlocks these entries . care to comment
When Loeb said "sitting on cash is the most difficult thing a trader can do" what did he mean ?
My take is this... out of the vast number of potential entries intoa trade very few offer the combination of risk reward and probability that will carry you well outside of the marginal area of the equity curve.... consequently the best first stop is stop taking trades that do not stack up with high probability and low risk .... price action unlocks these entries . care to comment
A bit of philosophy from me here.....take it as you wish.
In life and at work people get second chances. People in general don't have to deal with thier mistakes, within reason. They get let off, if you like.
People lie, make excuses and feel they have a right to be excused.......generally.
Not so with the markets,............deal with the problem is the cry i hear from the successful ones.
Deal with it, or take your losses and limp away........like a girly wimp.
In life and at work people get second chances. People in general don't have to deal with thier mistakes, within reason. They get let off, if you like.
People lie, make excuses and feel they have a right to be excused.......generally.
Not so with the markets,............deal with the problem is the cry i hear from the successful ones.
Deal with it, or take your losses and limp away........like a girly wimp.
fxmarkets
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hmm yeah, look at it, its still "culture of blame" out there, corporations might get touchy feely after shelling out 50 grand to present workers with natty slogans such as "No such thing as failure only feedback" and the like, value the work force.... well this next few years apparently management school says business will have to interact more with their customers, touchy feely (capital spreads) hehe, and looking at their own staff ,, ratio's such as "Return on talent" of the individual..... who'd be a manger having to pump that out..
they pump it out, but do they believe in it? do they eck.... still a culture of blame...
they pump it out, but do they believe in it? do they eck.... still a culture of blame...
Chump. Waiting for the right moment takes knowledge, experience and dicipline. The three should not be of separate discussion in reality. But, we all make mistakes, we are only human at the end of the day or should i say that on sites like this it is easy for the learned to make it all sound too easy.
Do as i say not as i do?
That's reality for this site, and i mean it in the most helpful and sincerest manner. I don't mean it as detrimental.
Do as i say not as i do?
That's reality for this site, and i mean it in the most helpful and sincerest manner. I don't mean it as detrimental.
"knowledge, experience and dicipline. "....in addition it takes a balanced viewpoint such as winter is for skiing , summer is for mountain biking...and in between there will certainly be a few good moments to make money ..you'd be surprised how much easier discipline comes when you have other things to be interested in 
I can see your point in a way, chump. But not totally. Bloody hell, people need a life outside of trading, that's for sure. Some people thrive on the totallity, some people need a break. Individuality can't be stripped back like the chapters of a book. Everybody is different.
In my experience the totality you are referring to comes with a price tag ...I don't believe I have ever met a person totally consumed by one interest who did not have to take the drawdown for that in other areas of their life with a nett off position that they with hindsight would not rather have avoided. However , each to theirown needs.
