And...the shit...acts as fertilizer...to nourish the green shoots of our recovering economy...which inspires a bull market...in which trading rules are no longer necessary because no matter where you buy in it just goes up and up and up! I'm starting to get this! Thanks guys!
You must learn to apply the rulz, or the contrary when to rule their application! Think about it! It's very deep insight!
Some people here just wanted to mess with your mind-like Jack Hersey. Don't let them. Don't believe any rules or anything unless you have tested it out yourself. Ignore all gibberish.
Always run other scenarios concurrent with the holy grail. While the holy grail is making $, test it! Challenge its rulz. why isn't it making MORE?GODDAMN IT! Even the holy grail can be tweaked for better performance. never be satisfied because your model of the terrain is just that a model but never the terrain itself! Just like GOOGLE, keep improving your RESOLUTION! edit: and never rest on your laurels
And then picture in your mind all the bull-shit coming out of those bulls in the bull market fertilizing all those rice plants and creating new grains of rice to write rules all over them, and then eating them again...etc. Maybe the delusion is to think that we are all separate?
Thirty minutes before day session, I review previous day's trades. I review what happened in the Indexes during the night session. I review what the Indexes did when reports occurred. I review where the open will be in relationship to yesterday's close. I believe the toughest part of trading is trusting my system, it takes systematic small profits, my mind will play tricks on me all day long-making me to think to extend targets, which would be wrong thing to do, as in the past I would end up with considerable less money. When I make four points per contract in ES, I cut back size 80%, when I nail four winners in a row, I cut back again 80% of contracts until I have a losing trade.
I like some of these rulz but why do you cut back during a winning streak? What happens when you have 4 losers ?
1. Trade probabilities. I only trade my setups that have a 75% or higher probability of success. These occur regularly at the open and the close. I rarely trade anything in between. 2. Wait for your setups to materialize. Don't try to make something happen.. be patient. 3. Repeat steps 1 and 2.