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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.
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.
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
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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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.
