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Ten-thousand in Education and still not profitable!

  #64 (permalink)

Lake Michigan (Summer), N. Miami Beach (Winter)
 
Trading Experience: Advanced
Platform: TOS, Ninjatrader
Broker/Data: Tradeovate, TOS, Dorman
Favorite Futures: indices/currencies/interest rates/energies/metals/grains
 
Posts: 422 since Oct 2009
Thanks: 243 given, 734 received

That was a really good post. Especially about rule sets. I tend to do the same thing and have a set of mechanical-based entries with exceptions that are written down.

If I can't make sense of a setup with my exceptions in my mind in real time then I have to watch the trade go by without me.

One of my weaknesses is creating too many 'filters' for my setups or trade management as a way to 'tweak' or enhance potential profitability. This attempts to squeeze out more 'edge' than may really exist.

Found that if I spend less time in front of the monitor in split sessions with a faster time frame and the potential for more trades {with session stop and loss limits} that this fit with my psychology better and allowed me to stop overclocking my setups.

This resulted in lower risk initially and using tighter trade management.

I really really agree with this last poster that any method that even uses a 'touch' of discretion; well, then it slides into the individuals consciousness and then each trader (as we all know) will trade it differently in a myriad of ways--depending on expectations, psychology, experience and personal preferences.

Thank you for this excellent analysis!

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