Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 50,131 since Jun 2009
Thanks: 32,602 given,
98,794
received
Your "monkey" will try to get you out of stressful situations, just like your survival instincts take over when you step in front of a car, or when a grizzly bear is chasing you. It's an instinctive response much beyond your control.
Most people are raised placing a big significance on being right. The very next trade, despite the most perfect conditions, has a 50/50 chance of being right vs being wrong.
- Don't look to be right. Trade the better probability.
- The very next trade, despite the most perfect conditions, has a 50/50 chance of being right vs being wrong.
50/50 + 50/50 + 50/50 + ...= 50%
How do you define better probability if all of your trades taken individually have a 50% chance to work? Does not make sense to me. If the possible outcomes of every trade is always 50% then good luck on taking the next trade. If you don't know when your edge kicks in (probability to win > 50%) then what's the deal? Why not play roulette instead?
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 50,131 since Jun 2009
Thanks: 32,602 given,
98,794
received
Love the random trade analysis with 5-tick stop/target, 5-tick stop/10-tick target, and 2-lot 5-tick stop/5-tick target + 5-tick stop/10-tick target...
