I agree exits are the key!!! For me trying to get in and out for 2 points never worked. Was better to get in at support and catch 10-15 points once was a week to pay for all the small losses. Hard to have a maddux equity curve with nice smooth 2 point gains every day.
If you every want to join a small group of TF and ES traders feel free to join our room sometime. I have been following your blog for a while and have spoken with you on the phone once.
You need to have a low before you can make a new high. You need to hit a new low in life before you can be the trader you want to be.
Note To Myself:
The first move and premise is always going to be the most correct and natural. Do not put yourself into a defensive position later in sequence because you cannot commit to the aggressive nature of a proper execution.
When you introduce a stop and a target/break even mechanism into a setup, the probability is that you lose or go break even in either direction most of the time unless you make a discretionary decision.
In trading, randomness almost always leads to losses and losses can lead to more randomness.
I agree exits are the key!!! For me trying to get in and out for 2 points never worked. Was better to get in at support and catch 10-15 points once was a week to pay for all the small losses. Hard to have a maddux equity curve with nice smooth 2 point gains every day.
ReplyDeleteIf you every want to join a small group of TF and ES traders feel free to join our room sometime. I have been following your blog for a while and have spoken with you on the phone once.
ReplyDeletehttp://web.me.com/upstairstrader/TheTradersFloor/Welcome.html