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Intro, just discovered Emini trading, loving it


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Intro, just discovered Emini trading, loving it

  #31 (permalink)
 
Chrismind's Avatar
 Chrismind 
Houston, TX/USA
 
Experience: Beginner
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josh View Post

4) Logical averaging is a great way to not get shaken out of the market when the premise of the trade is still good. It's also a great way to lose your ass, and should only be done with care, however.

6) Stops are for schmucks.

Josh,
I respect your opinion and think you gave some good advice here and in other threads. But I think your #4 and #6 are horrible ideas for most traders, and especially for a new trader. IMO, adding to a loser and not using stops are cardinal rules that should never be broken. It's a recipe for disaster and irresponsible to suggest to a new trader. That is just my opinion.
Respectfully,
Chris

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  #32 (permalink)
 
josh's Avatar
 josh 
Georgia, US
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Chrismind View Post
Josh,
I respect your opinion and think you gave some good advice here and in other threads. But I think your #4 and #6 are horrible ideas for most traders, and especially for a new trader. IMO, adding to a loser and not using stops are cardinal rules that should never be broken. It's a recipe for disaster and irresponsible to suggest to a new trader. That is just my opinion.
Respectfully,
Chris

And your opinion is well received and respected as well, though it differs from mine. Just to be clear, I did not suggest anyone do anything (such as not use stops). Just presenting a different view.

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  #33 (permalink)
Mozes21
Lansing, Michigan
 
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Josh, correct me if I'm wrong.

When I read your post on the rules you seemed to be playing devil's advocate more than posting what your personal rules were.

Is that correct or do you actually follow all of those rules you posted?

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  #34 (permalink)
 
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 josh 
Georgia, US
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Mozes21 View Post
Josh, correct me if I'm wrong.

When I read your post on the rules you seemed to be playing devil's advocate more than posting what your personal rules were.

Is that correct or do you actually follow all of those rules you posted?

@Mozes21 , just to be clear, they're not rules at all, and that's maybe the most important thing to understand. What specifically are you referring to?

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  #35 (permalink)
 
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 sands 
London + UK
 
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Everyone starts off in the same way, and learns or gives up having lost all their money. I don't like losing trades so I read as much as I can and educate myself to not make the same mistakes in the future. that works for me. I feel that this industry is deceptively hard, it looks easy and people think its easy to make money consistently. In my experience it certainly is not! but I think some sound good advise in this forum to help.

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  #36 (permalink)
 
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 tturner86 
Portland, Oregon
 
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sands View Post
Everyone starts off in the same way, and learns or gives up having lost all their money. I don't like losing trades so I read as much as I can and educate myself to not make the same mistakes in the future. that works for me. I feel that this industry is deceptively hard, it looks easy and people think its easy to make money consistently. In my experience it certainly is not! but I think some sound good advise in this forum to help.

Trading can be simple, but rarely easy.

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