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Search: Posts Made By: Big Mike
Forum: Psychology and Money Management April 3rd, 2012, 11:40 PM
Replies: 151
Views: 41,923
Posted By Big Mike
Hi JJ, Thanks for posting. You might also...

Hi JJ,

Thanks for posting. You might also check out our Risk of Ruin discussion here:
https://nexusfi.com/psychology-money-management/15602-risk-ruin.html

I don't mean to pick apart your post...
Forum: Psychology and Money Management March 11th, 2012, 11:27 PM
Replies: 151
Views: 41,923
Posted By Big Mike
I am not talking about trying to predict the...

I am not talking about trying to predict the future.

I am talking about making general assumptions. For example, if the market pushes up slightly above a DT or a prior resistance area, and you...
Forum: Psychology and Money Management March 8th, 2012, 05:36 PM
Replies: 151
Views: 41,923
Posted By Big Mike
I am not interested in fighting you, since it is...

I am not interested in fighting you, since it is clear what you think of me and my approach based on the content of your posts when you refer to me.

If you want more info from me on forward...
Forum: Psychology and Money Management March 8th, 2012, 05:19 PM
Replies: 151
Views: 41,923
Posted By Big Mike
I always think of trading as a competition...

I always think of trading as a competition against other traders. I think trading is every bit as much knowing what the other traders around you are doing as much as it is knowing what you want to...
Forum: Psychology and Money Management March 8th, 2012, 05:16 PM
Replies: 151
Views: 41,923
Posted By Big Mike
I view it as one trade. Just like all my...

I view it as one trade. Just like all my previous trades, I did not enter "all in". I entered knowing full well that I would add at a later opportunity, should one arise --- and that I would not...
Forum: Psychology and Money Management March 8th, 2012, 12:17 AM
Replies: 151
Views: 41,923
Posted By Big Mike
Bob drives to work every day for the last 10...

Bob drives to work every day for the last 10 years using the exact same route from his home to his work place. He also drives home every day the exact same route from his work place to his house.
...
Forum: Psychology and Money Management March 8th, 2012, 12:11 AM
Replies: 151
Views: 41,923
Posted By Big Mike
Strongly disagree. Mechanical traders and...

Strongly disagree.

Mechanical traders and automated traders base their probabilities on prior backtests or prior forward tests. Either way, it is on a set of sample trade data.

Discretionary...
Forum: Psychology and Money Management March 8th, 2012, 12:07 AM
Replies: 151
Views: 41,923
Posted By Big Mike
Let's say I enter a trade here. My stop is 50...

Let's say I enter a trade here. My stop is 50 ticks away, and my first target is also 50 ticks away. I enter here because it is moving higher, and just bounced off a support level.

Maybe after I...
Forum: Psychology and Money Management March 7th, 2012, 04:23 PM
Replies: 151
Views: 41,923
Posted By Big Mike
Hmm, not sure I can really agree on this. ...

Hmm, not sure I can really agree on this.

You are both driving on the same Interstate highway, but one of you is driving a Pinto, and the other a 18-wheeler weighing 40 tons. You might be on the...
Forum: Psychology and Money Management March 6th, 2012, 09:25 PM
Replies: 151
Views: 41,923
Posted By Big Mike
Private Banker, couldn't have said it better...

Private Banker, couldn't have said it better myself.

I know there are always the guys that say all in, all out is mathematically superior, and if that is what drives them to be good traders then...
Forum: Psychology and Money Management March 6th, 2012, 06:30 PM
Replies: 151
Views: 41,923
Posted By Big Mike
This post has been featured as a highlighted...

This post has been featured as a highlighted Trader's Edge story on the forum homepage.

To nominate other posts for this, see the below thread or click on "Nominate a post" on the right corner of...
Forum: Psychology and Money Management March 6th, 2012, 06:30 PM
Replies: 151
Views: 41,923
Posted By Big Mike
This post has been featured as a highlighted...

This post has been featured as a highlighted Trader's Edge story on the forum homepage.

To nominate other posts for this, see the below thread or click on "Nominate a post" on the right corner of...
Forum: Psychology and Money Management February 28th, 2012, 01:31 PM
Replies: 151
Views: 41,923
Posted By Big Mike
Poll has closed, results: ...

Poll has closed, results:

https://nexusfi.com/attachment.php?attachmentid=64070

You can continue the discussion in this thread.

Mike
Forum: Psychology and Money Management February 21st, 2012, 11:34 PM
Replies: 151
Views: 41,923
Posted By Big Mike
https://nexusfi.com/attachment.php?attachmentid=63...

https://nexusfi.com/attachment.php?attachmentid=63444

We agree!!!!

hehe

:lalala:

Mike
Forum: Psychology and Money Management February 21st, 2012, 11:30 PM
Replies: 151
Views: 41,923
Posted By Big Mike
hehe, and again if perry uses this kind of...

hehe, and again if perry uses this kind of method, more power to him. To be honest, I am not very familiar with his method.

We are all simply speaking from experience. And my experience is that...
Forum: Psychology and Money Management February 21st, 2012, 11:22 PM
Replies: 151
Views: 41,923
Posted By Big Mike
I've read it a few times :) We have very...

I've read it a few times :)

We have very different approaches I think. You like to scalp, where I advocate against it.

To each his own, there is no wrong or right way. My experience tells me...
Forum: Psychology and Money Management February 21st, 2012, 06:46 PM
Replies: 151
Views: 41,923
Posted By Big Mike
You said "Bigger stops = bigger monetary risk". ...

You said "Bigger stops = bigger monetary risk". I am saying no, that is not at all what I am recommending. Bigger charts, bigger stops and SAME monetary (or less) risk by using a properly sized...
Forum: Psychology and Money Management February 21st, 2012, 06:25 PM
Replies: 151
Views: 41,923
Posted By Big Mike
In futures markets, 10 ticks = noise. Add to...

In futures markets, 10 ticks = noise. Add to that the high cost of entry (commission, slippage, and not forgetting your time), and it makes no sense. I am glad you have made it work, but I cannot...
Forum: Psychology and Money Management February 21st, 2012, 06:19 PM
Replies: 151
Views: 41,923
Posted By Big Mike
This is not true. People seem to be hung up...

This is not true.

People seem to be hung up on this bigger chart = bigger $$ stop. Not true.

Switch instruments people! Change markets! Trade the market and instrument that is appropriate...
Forum: Psychology and Money Management February 21st, 2012, 04:58 PM
Replies: 151
Views: 41,923
Posted By Big Mike
Not to venture too far :offtopic:, but again I...

Not to venture too far :offtopic:, but again I believe this is really rather simple to understand or "get". Now it isn't as simple to execute. But here is what I found most people understand...
Forum: Psychology and Money Management February 21st, 2012, 04:35 PM
Replies: 151
Views: 41,923
Posted By Big Mike
It's exactly as hard as you make it. Another...

It's exactly as hard as you make it.

Another idiom you may often hear is "Traders get exactly what they want out of the market".



So how to actually do this? Just analyze your behavior. Of...
Forum: Psychology and Money Management February 20th, 2012, 10:17 PM
Replies: 151
Views: 41,923
Posted By Big Mike
Going along with tiger's last paragraph, I feel...

Going along with tiger's last paragraph, I feel that traders all too often try to eliminate and reduce risk as opposed to trying to embrace and manage it. Powerful difference between the two.

Mike
Forum: Psychology and Money Management February 18th, 2012, 06:08 PM
Replies: 151
Views: 41,923
Posted By Big Mike
I take that back. There is at least one...

I take that back. There is at least one absolute: every trader is different, has a different opinion, different method, and different outlook on their trading vs the trading of others.

Mike
Forum: Psychology and Money Management February 18th, 2012, 06:07 PM
Replies: 151
Views: 41,923
Posted By Big Mike
Those who risk the same $ amount even as their...

Those who risk the same $ amount even as their account shrinks seem to be focused solely on how much money they can make, and not how much they can lose.

For you to continue risking $500 after...
Forum: Psychology and Money Management February 18th, 2012, 06:06 PM
Replies: 151
Views: 41,923
Posted By Big Mike
There are no absolutes in trading for the most...

There are no absolutes in trading for the most part.

If I analyze my last 1000 cash trades, it gives me a fairly good idea at what my next 1000 trades might look like. Cherry picking is not a...
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