In my opinion, the primary mistakes of why beginners failed in this profesion is because cutting losses and profit run. I may discussed about cutting losses. Cut losses is not a failure. Cut loss is protection. Many great traders out there doing cut losses more often than taking the profit and still they made massive money. They didn't want to tell you the secret because they need prey, yes...beginners...to fill their wallet.
First enttering this profesion, I have an anti-cut losses attitude. So that's why I love options. Just let it expired if I did wrong. I learn lot of strategy like butterfly, condor, calendar, etc, just for one reason only. I don't need to cut loss. Until I busted over and over again. So many newbie just like me avoid to cut loss. They want a 100% winning system. I entered some workshop for those reasons. Like guaranteed 5% profit using USO (oil options). or Earning play, etc. That's the view me watching the market.
They all failure...
The real secret of the market is looking the market for probabilities. How many times it worked and don't. There's no 100% probabilities, even no 90%. Knowing that, you must prepare for the Stop Loss since there's no 100%
I agree, probabilities make sense, most others doesn't.
ReplyDeleteTq FFXD, you know today's movement like s**t. No signal or at least worth trying for my system.
ReplyDeleteJewish holiday + Rollover Week + Short Week + Recent Summmer Holiday make our day :)
It's no wonder if you got stopped out too much. The market so sideway and quiet.