dchappy wrote:prochargedmopar wrote:If I didn't know better I would think that you simply did not care about being profitable...
Your right, I care about being profitable.
Lets be honest here though.
My actions show me that I want even more badly not to lose.
Maybe its not to be wrong?
Not necessarily to be right, thats not a big deal.
Losing is a kicker.
Im really not sure what to do, how to trade, or how to change my mindset.
A real PITA.
When scalping ( 1-5 min chart ) I will cover @ -8, -10 ,every time . When swinging/ day trading (15 + min chart ) . I will give a loser 20-30 pips then enter a hedge . A hedge puts the trade on " pause " and allows some time for the market to show it's hand .I can hold the trade for several mins or weeks and never experience " draw-down " . When a direction is obvious I can remove the losing trade and be in good shape . Dragon once said that he had over 200 winners in a row . I suspect that he was hedging .....Some one will say that hedging is just a " mind game " ..but isn't that what trading is all about ? . Of course you have to find a broker that allows it ....there are a few still around .......Take care ......Pro ..
That is what Dr. Savareman always did. 30 pip hedge, then wait for next session far another setup. Maybe even the one after that.
I dont see a need for such a trading plan.