Simon's prediction is over 100%. I wouldn't be in either of the four categories.ShaunWhite wrote: ↑Mon Apr 16, 2018 4:12 pmI'm going ...ruthlessimon wrote: ↑Mon Apr 16, 2018 3:20 pmBtw if there was a study on all BA traders I'd predict the following distribution:
1. 80%
2. 20%
3. 0.1%
4. 0.01%
1. 70%
2. 20%
3. 5%
4. 5%
Some very interesting stuff being said in here.
Appears simple but is devilishly difficult.
- ShaunWhite
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Some might be in more than 1 category? Or maybe different markets fall into different slots?
It's hard not letting the odd #1 creep in when a few #3s have made you a little too confident.
It might explain the formula behind the infamous breakeven grind of death.
Success is where 3 > 1 and both 2 & 4 are zero
What's your #5 then Derek?
I'm sure we've all been in all four categories at some time, I was referring to a trader's general approach, or perhaps I misunderstood Simon's post.
I generally keep my exit options open - I would never make a firm decision when opening a trade where I'll exit.
I generally keep my exit options open - I would never make a firm decision when opening a trade where I'll exit.
- ShaunWhite
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- ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
I'm actually with you on that one, the ideal must surely be a complete reassement of every 'now' moment. That takes a lot of experience and you've done the screen hours. I generally view it as somewhere to put a right-click stop so I can watch something else for a few seconds. An exit has to be moveable, it moves with you when you're showing a good profit, so if things move against you it makes sense to constantly review that situation too. Like poker, that money on the table has gone....it's about doing what's right now. And for me that's getting some work done instead of chatting.