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So being comfortable with uncomfortable is what gets me into trouble. I am glad it’s working for you but a lot of us need to focus on risk management and keeping the RR correct. I am not constantly profitable so I want to make sure I am not coming across authoritative in any way.
Firstly I'm a long only stock swing trader. (I fund my lifestyle with trading)
Here is how I look at it.
I expect every trade to be a loser. So I'm not really disappointed when my stop is hit.
Capital preservation is my number one priority. Keeping losses small is one way of preserving my capital.
I do concentrate on R/R. With my low win rate I have to have a pretty healthy R/R to make any money.
"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
Never counter trend until a major support fails! This is tantamount! Always stay with the current trend. If a major support fails, then it is time to look for a trade in the opposite direction.
Trading: Oh what a tangled web I weave, When I want to take profits in trading
Frequency: Several times daily
Duration: Years
Posts: 1,742 since Nov 2014
Thanks Given: 3,438
Thanks Received: 3,012
The opposite of this works for me.
When I'm comforable or NOT anxious with a trade, that's usually an indication that I'm confident with my trade. This means I expect certain outcome and I'm likely to be stubborn i.e not taking my loss.
When I'm anxious, that's because of the uncertainity. That's a good start for any position.
