Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
The idea is simple. Post a statement related to trading and the next person has to answer True or False. The statement has to be directed at that person (even though you don't know who it will be).
I'll start.
The most important key level for a daytrader is Yesterday Settlement as price will always try to gravitate around it.
(next person says True or False, then posts their own statement related to trading)
You need to differentiate between the money management stop and the market stop. Without exception follow the rule | entry price - market stop | < | entry price - money management stop | . Select market stop first, then use position sizing to adapt money management stop to your maximum risk allowance. If the rule cannot be applied, select position size = 0.
You did not make a statement, or is this the new statement? Then it is false. Because it is also a rule. For further development see Kurt Gödel's journey to discover the paradox.
New statement:
You can trade without understanding mathematical concepts such as expectancy or winning percentage, but you cannot trade without mastering psychology.