aliassmith wrote:John S. wrote:aliassmith wrote:
If you are calling BS then you should call them on your 4 simple rules. #3 for example...if I got out of every trade that went against me, I would never make money. I don't know to many people that are that precise.
In general price is always going in your favor and against you. It rarely moves in a straight line.
Trading is more complex than your 4 rules. I can make 1 rule that will make money.
#1 Enter correctly and exit correctly.
With proper money management its a sure fire way to make millions.
Agree with your one rule completely.
Concerning my other post, I didn't say that a trader should get out if price goes 1 tick against him/her. I think that anybody that has been studying trading for more than about 2-3 days would understand that.
But to clarify it for you, a trader should get out if price goes against his/her original premise and preferably that should be based on statistical analysis. Feel better now?
Having said that, when professional traders at large hedge funds are taught to trade, they literally are told to exit when price goes 1 tick against them......until they build up "muscle memory" that it's actually good to exit with a loss.
As mentioned before I didn't come here to teach a course - these are just general concepts of trading. And if you follow them, as opposed to so much of the other nonsense on the web, in marketing emails and this board, anybody can learn how to successfully trade.
Have a great day!
And there you have it. Your rules of success are worthless because there is no context to go along with them. Just like my #1 rule is useless without any methodology to go along with it.
With your clarification in this post your rule is useful because there is some context.
I will have a great day. Thanks!
Agree with you 100%. There is so much BS on this board with absolutely NO CLARIFiCATION, nor NO CONTEXT, nor no testifiable, verifiable,repeatable strategies. That has been my whole point. That's for verifying that!!!