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THE SWEET SCIENCE
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THE SWEET SCIENCE

  #11 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

Killing me

You guys are killing me.........

Tigertrader is very likely the best trader on this forum..........he is a professional with OVER 30 years of trading success!! Got that.........OVER 30 YEARS.

He has just shared information that if applied could very well make the difference between your success and failure....and you want to criticize him for the way he shares this information????? Give me a break.

Personally, I loved the analogy.

KEEP IT COMING TIGERTRADER

Jeff

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  #12 (permalink)
Member
Cheyenne, WY
 
Futures Experience: Master
Platform: ninja trader
 
Hard 8's Avatar
 
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Jeff Castille View Post
Personally, I loved the analogy.


Jeff

That's because all the VS models stay at your villa in St. Bart.

 
  #13 (permalink)
Elite Member
CA
 
Futures Experience: Beginner
Platform: MT4, Ninja Trader
Favorite Futures: EUR/USD
 
Posts: 495 since Oct 2009
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Jeff Castille View Post
You guys are killing me.........

Tigertrader is very likely the best trader on this forum..........he is a professional with OVER 30 years of trading success!! Got that.........OVER 30 YEARS.

He has just shared information that if applied could very well make the difference between your success and failure....and you want to criticize him for the way he shares this information????? Give me a break.

Personally, I loved the analogy.

KEEP IT COMING TIGERTRADER

Jeff

Actually, I didn't get quite get the analogy until he explained it.

It could have been taken as one is achievable and one isn't or
it could have also been taken as one is straight forward and the other is high maintenance.



Andrew

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  #14 (permalink)
Elite Member
Malaysia
 
Futures Experience: Beginner
Platform: Multichart DT
Broker/Data: MB Trading
Favorite Futures: Fx
 
torroray's Avatar
 
Posts: 273 since Nov 2009
Thanks: 52 given, 59 received

Hi tiger,

Would that requires a change for trading and approach to the market?

 
  #15 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
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Broker/Data: Optimus Futures, LLC
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mattz's Avatar
 
Posts: 2,059 since Sep 2010
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Forum Reputation: Legendary

Tiger you are right on the money with your analogy! As a kid and teenager I took amateur boxing and if I may add to your post.

You can learn about your opponent (the market) prior to the fight but you will only discover if you can beat him or at the very least explore his vulnerabilities only when you step in the ring (sim versus real life trading).

Psychology plays a huge role because one good hit (a trading-loss) may scare you away and lose the entire fight (entire day of trading), regardless of all your prior harsh training. You have to shake off any thoughts of a loss when you have a break, keep looking at the opponent in the eye and come back focused. if you don't, you will waste your energy in the ring and lose focus by becoming desperate to win(vengeance trading), and we know where that leads.

You remember your losses more than your wins. They are the only ones that make you better, make you evaluate things and teach you not to be arrogant. The losses make you write thing down as you trace your opponent's moves (your trading journal).

At times when you think you win, the opponent could come out of nowhere with some renewed energy that you never anticipated (surprise mid day announcement by Ben b), so you only win in the end of the match, not through it! (consolidating your P&L at the end of the day).

M

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #16 (permalink)
Trading Apprentice
California, USA
 
Futures Experience: Intermediate
Platform: OANDA
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Posts: 20 since Oct 2010
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tigertrader View Post
The point of my analogy, is that they both feel good, but the latter is a whole lot better. I'm not saying that you can't make money scalping, but between the commissions and the slippage, and reduced risk /reward parameters, it is very difficult to make larger amounts of money.

Maximizing your trades by holding onto your winners, and adding to your winners, when the market conditions allow, is a whole lot more profitable, if done correctly. Unfortunately, most traders don't have the patience to squeeze their winners, or if they do have the patience, they squeeze their losers also. It also requires additional risk tolerance, well placed stops, and better capitalization than scalping.

But when do you add to your winner? Let's say you are risking 1R and target 5R, at what stage do you add to your position or it's totally depends on the price action/context and it's different trade by trade.

 
  #17 (permalink)
Site Administrator
Manta, Ecuador
 
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Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Moderator Note
Please stay on topic. If you want to report a post to the mods, please do so, but keep replies in thread on topic or the thread will be closed.

-- Big Mike



Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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  #18 (permalink)
Site Administrator
Manta, Ecuador
 
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Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,215 received

Well, 10 minutes later I see that I have no choice but to close this thread, people are unable to control what they post it seems.

I've deleted some of the off-topic and rude posts as well.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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