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Search: Posts Made By: mwtzzz
Forum: Psychology and Money Management March 20th, 2013, 01:18 PM
Replies: 55
Views: 11,962
Posted By mwtzzz
Interested folks might check out my homepage...

Interested folks might check out my homepage where I have a trading section summarizing my views. I compiled some information there so I wouldn't have to keep typing the same stuff over and over on...
Forum: Psychology and Money Management March 7th, 2013, 09:41 AM
Replies: 55
Views: 11,962
Posted By mwtzzz
Money/risk management is perhaps more important...

Money/risk management is perhaps more important than entries. This is why I mentioned previously in this thread the idea of getting into a trade sometimes without any signal - just flip a coin. The...
Forum: Psychology and Money Management March 6th, 2013, 10:13 AM
Replies: 55
Views: 11,962
Posted By mwtzzz
If you always protect yourself against...

If you always protect yourself against devastating losses, and if you know you can recover from day to day losses in the normal course of trading, then you won't have any problem letting your profits...
Forum: Psychology and Money Management February 28th, 2013, 10:48 AM
Replies: 55
Views: 11,962
Posted By mwtzzz
Lol. When it comes to money, often the BS factor...

Lol. When it comes to money, often the BS factor seems to get higher



Absolutely. If you're just bouncing around with no rationale, you won't get anywhere



I agree. I personally think...
Forum: Psychology and Money Management February 27th, 2013, 05:22 PM
Replies: 55
Views: 11,962
Posted By mwtzzz
Part of the reason they lose money is the result...

Part of the reason they lose money is the result of their fear of losing money (a paradoxical thing, isn't it). So what I'm trying to accomplish here is putting 'loss' into proper context. Learning...
Forum: Psychology and Money Management February 27th, 2013, 10:48 AM
Replies: 55
Views: 11,962
Posted By mwtzzz
Excellent response, especially the part I bolded....

Excellent response, especially the part I bolded. This is one of the things I'm trying to impress upon people because often they don't consider those to be within the realm of possibility.


...
Forum: Psychology and Money Management February 26th, 2013, 12:29 PM
Replies: 55
Views: 11,962
Posted By mwtzzz
Hi Josh, Yes I think should explain a little...

Hi Josh,

Yes I think should explain a little better. When I say work your way out of a 100 tick loss, I don't necessarily mean immediately. Flattenning is certainly a valid first step. What I'm...
Forum: Psychology and Money Management February 26th, 2013, 12:06 PM
Replies: 55
Views: 11,962
Posted By mwtzzz
It doesn't bother me. It is achieving the purpose...

It doesn't bother me. It is achieving the purpose it was designed to.



I'm referring mostly to big events outside our control, such as Limit Moves, because most successful traders who went...
Forum: Psychology and Money Management February 25th, 2013, 10:55 AM
Replies: 55
Views: 11,962
Posted By mwtzzz
Something to chew on

I'll like to throw out something here for people to chew on.

If you consider the worst possible case that can occur in your trading - the absolute worst - and you figure out a solid method that,...
Forum: Psychology and Money Management February 25th, 2013, 10:41 AM
Replies: 55
Views: 11,962
Posted By mwtzzz
I'm not sure what that is, but it sounds good. ...

I'm not sure what that is, but it sounds good.


Anyway, I want people to think about loss, and the difference between losing in normal market conditions (which is a natural part of trading) and...
Forum: Psychology and Money Management February 24th, 2013, 09:25 AM
Replies: 55
Views: 11,962
Posted By mwtzzz
I appreciate your opinion. Obviously I don't...

I appreciate your opinion. Obviously I don't agree. I view it like this: a trader must be able to convince themselves that they are able to recover from any trading situation they may possibly...
Forum: Psychology and Money Management February 23rd, 2013, 07:26 PM
Replies: 55
Views: 11,962
Posted By mwtzzz
Awesome I got a "wow" - it makes it all...

Awesome I got a "wow" - it makes it all worthwhile.

so ... wow as in "gee this thread is nuts" or wow as in "wow this is food for thought"?
Forum: Psychology and Money Management February 23rd, 2013, 04:20 PM
Replies: 55
Views: 11,962
Posted By mwtzzz
in this case, you should doing it in simulation. ...

in this case, you should doing it in simulation.



The thing is, you don't have any control about when it will happen to you. No matter how many precautions you take to avoid those...
Forum: Psychology and Money Management February 23rd, 2013, 04:15 PM
Replies: 55
Views: 11,962
Posted By mwtzzz
Something to think about: are your lousy trades...

Something to think about: are your lousy trades occuring under normal market conditions? Likely, the answer is "yes" because, by definition most market days are "normal."

What are you going to do...
Forum: Psychology and Money Management February 23rd, 2013, 04:10 PM
Replies: 55
Views: 11,962
Posted By mwtzzz
What I really mean is working your way out of...

What I really mean is working your way out of drawdown, but in some cases it can also mean a single badly losing trade. Or if you have taken a large loss on a single trade.



As long as you are...
Forum: Psychology and Money Management February 23rd, 2013, 10:21 AM
Replies: 55
Views: 11,962
Posted By mwtzzz
You don't. What I'm saying is, enter a trade you...

You don't. What I'm saying is, enter a trade you would not normally enter under any circumstances (because it most likely would be a losing trade according to your strategy).




You get the...
Forum: Psychology and Money Management February 22nd, 2013, 07:40 PM
Replies: 55
Views: 11,962
Posted By mwtzzz
Highly Unusual Suggestion

Traders are always trying very carefully to enter only into "winning trades" so much that you often don't know what to do when faced with a tenacious losing streak.

I'm going to suggest something...
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