IFocus
You are arguing with a Galah
- Joined
- 8 September 2006
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Thanks Wayne .......I think it might have been to much or not enough of chicha.....military types never change
Cocoa leaves aren't much fun. Coca leaves on the other hand....
I will send you some more results then.TH I have and can only comment on what Ive seen.
Are you saying that your trading is successful inspite of M/M--T/M?
That if you critically look at your results you cant say that your success has been attributed to any one or more of the 3 listed above?
While I can see where your coming from Id be suprised if you didnt agree that SOUND trading methods can be rescued and improved even turned spectacular with great M/M and Trade management.
More over M/M and Trade management will in the very large degree save most from ruin even with a flawed methodology. Which after all is extremely important.
There is a whole industry/Rambling Bullsh!t going on about psychology and risk management and discipline but its all a scam.
I get ATLEAST one email a week from someone struggling with trading and they all have the same theme. Discipline/Psychology/Risk Blah Blah Blah.
What none of them say is I have developed these trading skills but risk management is stopping me making money.
GET SOME TRADING SKILLS thats the bloody secret. The rest is just looking after business.
Maybe one day when you have something to say that cuts through the bulls*** and can show some results you too can build a following. Until then just work on being more arrogant.:
As for stops..I use them but often close out a position before my stop is triggered if I feel things aren't right....All the trades that my stops have been triggered I have known beforehand that I should have closed but have let imagination take over....
Actually, that was meant to be a complement.
I would type out an apology except I'm still trying to get the keyboard out of my mouth. :bonk:
As for stops..I use them but often close out a position before my stop is triggered if I feel things aren't right....All the trades that my stops have been triggered I have known beforehand that I should have closed but have let imagination take over....
Interesting point MD.I'm starting to think that all of our fiddling has more to do with our need to be in control than anything else and that the best mindset is to just accept what the markets provide at any given time.
Great replies and posts.There were some good points made.And what is important is that it got you thinking.
Ok I confess. Risk management is only a part of the big picture.BUT it is an essential part, without it you are in trouble.And the same goes for Skill that is not enough on its own either
Of course you need skill,knowledge etc and you are never going to know it all.Though some think they do.
Remember we are all individuals and that comes to trading as well. What works for me won't necessarily work for you and vice versa.
So we keep on learning and this site is a great place to do just that.
Happy successful trading.
GET SOME TRADING SKILLS thats the bloody secret. The rest is just looking after business.
Specifically what are “ trading skills “
What are business skills
Life skills
Radge once told me
You’ll know when you can trade and what it is you need to trade
Profitably for the rest of your life.
I struggled with that for 5 yrs
He was right and I was amazed how simple it was/is
I had to look in all the wrong places to find the right place.
It’s ALL about the NUMBERS.
but you need
to work out how and why... that is the hard part when starting out.
The missing link
Confirmation.
(1) Years of trading your implementation of How and Why
OR
(2) Rigorous and repeated testing of your implementation of How and Why.
That's it in a nutshell Tech. Love concise explanations.How.
Buy low sell high --- buy high sell higher.
Sell High buy low ---Sell low ,buy lower
That's the HOW
Everything else that you "Think" is the how ---- is identification of an opportunity.
The how doesn't come until it happens. It is a consequence of allowing it to occur.
Why
Income exceeds expenditure.
That's the WHY
Everything else you "Think" is why is the consequence of MONEY and TRADE management.
The missing link
Confirmation.
(1) Years of trading your implementation of How and Why
OR
(2) Rigorous and repeated testing of your implementation of How and Why.
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