I apologize for not answering.

I really don't give a flip about losing trades or winning trades. I'm so "lost in the game" that if I miss a few shots or make a few I'm not thinking about it. I'm working playing defense, rebounding, etc.. I'm in the game. I stopped out 1st trade this morning, didn't think nothing of it and came back with 8 winners. Didn't think anything of those winners either, because my head was still in the game, watching the order the flow pouncing on it where I see fit.

This is the best way I can put it and I can only speak for myself.

I guess it's a mind state thing. I don't try to rationalize\quantify what I do as a business and compare it to any other business. (doesn't mean I don't take it seriously) I'm at peace with "betting", I'm looking to "bet", I accept the risk that goes with it and embrace the "gambling" aspect of it. Embracing the gambling aspect of it, allows me to cope with the losses and the wins. Not to get to high or to low.
Again that is what works for me.
YMMV

cheers

Politeness...is the ultimate hypocrisy. I call em, like I see em.

Politeness...is the ultimate hypocrisy. I call em, like I see em.

I started a business out of my home with only a $10,000 credit card and built it to annual revenues over $5 million is a few short years.

I have met many successful traders that prior to trading did many things successfully. This is awesome what you have done.
It means that you have some roots of discipline in you!

You had the balls to come here and ask a good question. You did the right thing.
No one started as a profitable trader from day one, and IF someone did, they have read so much and research until they wanted to put a fork in their eye.

You are on the right track, and if at times you go back and forth between real and sim as a beginner to tweak things, it's ok.

Politeness...is the ultimate hypocrisy. I call em, like I see em.

Gary,

You have been trading since 1971, me only 13 months. You were once where I am and you should never forget that you had to start at the beginning as well. Or does your big head get in the way of being humble?

Hey guys.... calm down. futures.io (formerly BMT) is about helping people in a positive way. If you want to help someone using negative reinforcement this isn't the place to do it.

No name calling, no rude behavior, etc. Period. It will not be tolerated.

The thread topic is a good one and should be discussed. There are going to be a lot of opinions on a subject like this. Keep an open mind. If you disagree with someone, try to be specific as to why in your reply or just don't reply at all.

Mike

While trading is very mathematical, we are not computers. There is a psychological component.

Like most things in trading, there is not a black/white answer. There is not a "this is how you trade" answer. You need to set yourself up for success, but you need to also play to your own strengths and weaknesses.

Personally, I have a daily goal that I trade to. I am comfortable trading to this goal and stopping. If I don't trade for a day or two, then I press a bit as I have weekly and monthly goals as well. I fine having a goal helps me mentally.

One aspect: you can be done in one or two trades and go live life, having traded just 1 hour. Another aspect: you can stay and trade the rest of the day, and make ten times as much. You can also lose what you made originally and end with a loss.

The bottom line is your method should dictate how many trading opportunities you have each day. I have a dozen or so each day, I probably take less than half on average. I am fine with this. It is part of my routine. You have to find your own routine, just make sure that it makes sense. Don't stop trading mid-day for no good reason. On a similar note, I ignore those who say don't trade during lunch, or don't trade overnight, etc. I trade when price action and my method tell me to trade. Price doesn't care about what time it is, and I am not trading such huge volume that I need RTH liquidity to fill my orders.

Mike

Gary,

You have been trading since 1971, me only 13 months. You were once where I am and you should never forget that you had to start at the beginning as well. Or does your big head get in the way of being humble?