If your opponent knows your surrender point, he will exploit it.
Stoploss points, therefore, should be in mind, not in system IMHO, unless you're scalping or there is some other compelling argument.
They can see it!
Even otherwise, sudden moves are known to open jump stop losses
trading is like a property dealer or used car sale/purchase business.
you often get only 1-2 clients in a day...sometimes in a week. most of those opportunities are not juicy, there isn't enough risk reward in your favour. you have to say "no" to most of them. if you say "yes" to every trade that comes your way, you are not a trader, someone has "traded" with you.
but every now and then you come across a genuine trade that has risk reward ratio tilted in your favour. that trade should be taken and remaining left. boredom is the cost of safety from loss.....self talk
Trading is a 80/20 game. If you miss the 20% chance of winning the pounds, you struggle for remaining 80% time for pennies…
Therefore you have to have a top-class system which catches edges reasonably accurately, you’ve to have discipline and mental condition to stick to that system and survive that 80% uncertainty to catch that 20%.
If you miss the meat, you’re left with the bare bones.
the game is squeezed in that 20% portion, your system should be capable of pointing out the high probability zone of that 20%. Otherwise, you will keep struggling for the consistency.
Same is true for investing.
trade only one side (for a day/swing/trend/day/time period) based on the judgement of the trend direction)
either buy on dips or sell on rise
avoid both side trades
nothing confuses and forces wrong trades like both side trade
losses of wrong judgement are half or less when you take trades only on one direction...
if your one side trade is failing, most likely the trend is on the other side... a good system spots that before trading.
Let me share an observation. Any big rise or fall is actually in two parts, like a movie with interval.
Check any sharp spike or crash on any chart. Chances are you will see that there was a kink or pause in the chart near 50% mark. Between 40-60%.
Pl do check
So whenever any sharp move comes dare to shun FOMO and jump on, of course only that much amount you can afford to lose. Strong chances you entered near midway
Standard disclaimer: not a recommendation 😅
markets are part of politics...look at US markets...no president gets elected/reelected, if markets dont do well.... when trump demanded rate cut last month, the almost sure rate cut was delayed by the Fed as they wanted to cut it for the incumbant president but didn't want it to be done coinciding with trump demand
andre minassian, my idol, has openly said it time and again. he never uses charts, but trades on the basis of understanding chess position and vested interests. i strongly recommend his interview series given to ukspreadbetting.... he has given almost no interview before or after, but in this series, he has spilled all beans
https://youtu.be/VUtp5KVR09o?si=3l6GEPzzWhfKQSrL
in trading log kya kahenge doesn't matter
nobody is going to share his profit or your loss
all associations are situational and conditional, and till they are pleasant.
ekla chalo
in trading you can never sure of the outcome of the trade. never. there is always some uncertainty.
but you can't be indecisive and shaky.... fearing, vibrating, panicking all the time, fiddling with the trade direction.
you have to bet. and have guts to stick to it.
you have to be ok with losing. only that will give you the guts to be worthy claimant of profit, handsome profit.
and since you have to be ok with loss, you have to manage the risk. can't be foolish gambler.
never swim naked.
atleast never trade naked.
if you are long, instead of buying 2 or 20 lots buy 3ce:1pe pr 30ce:10pe (or in that ratio). always trade hedged. that way, you use more funds, ofcourse, and a bit more in premium decay, but that is the insurance against trades gone wrong or adverse bluff moves.
always trade with a hedge...same instrument is advisable for amateurs. professionals have more sharp options.
don't hesitate to skim or book adverse moves, if and when they come.
however, this strategy is only if you have a trading system, you know when and why to enter or exit, in which direction is the high probability. if you don't know that or don't know what to do in case of an adverse move, then hedging won't save you much. you have to find ways to recover cost of the hedging insurance.
i, per se, never trade naked. swimming i'm learning. bathing naked is ok.
don't hold yourself responsible for what market does or doesn't
never feel guilty about that.
that is not in your hand.
the only thing that is in your hand is, deciding what shot to play to the ball pitched at you by the market.
you play stroke not as per your wish but as per the ball.
the day you make trading a system based mechanized assembly line
and you are making consistent profit, both sides,
and are free from any anxiety,
you have turned a pro...priod
every trading day or trade swing, like a chess game has a opening game, middle game and end game....
the opening just sets the tone
and end game just ruthlessly stretches, extends or finishes the win or lose,
but it is the middle game which is tedious, heavy, boring and demanding. that is the real test of a trader....that's where the outcome gets manufactured or shattered. patience and skill is required. the bets need to be let mature or adjusted.
can you fly a plane in zero visibility?
yes, if you have instruments with the technology.
can u trade without seeing price?
yes, if you have "technicals" technology.
i know some traders who keep price view "off" and trade only by seeing technicals. what they check for is of another level.
emotionless trading based on instruments.
