choke35, Inletcap, bmtrading, Tap In
Very helpful responses in the last few posts, all true and lots of stuff to think about!
Inletcap
What I just now realized (nice poem btw) after all the responses, is that you are focussed on maximizing profit first and managing risk second. Because your focus is on profit (and not on risk), all your trading decisions are intended on maximizing the potential profit, and not on reducing risk. This explains why you let profit runs, see pullback as an opportunity to increase size, can resist the psychologal effect of pullbacks, remain in the (losing) trade as long as you believe in your bias, etc. Versus the risk averse, struggling but learning trader (me) who secures profits, gets anxious during pullbacks, has fixed stops of x% of account size and gets scared about reversing internals.
Am I correct in this?
This may all sound very logical and make me look like an idot, but it is something that I just now realize. You have a winning attitude and as such you take different trading decisions.
While doing the previously mentioned excercise, I noticed the many opportunities that I had. All worth 342 points in total. Because I focus on risk first and profitability second, I banked only 7 out of the 342 potential points.
This is again in line with what choke35 says regarding daily ranges of 45 points and trading within the noise level.
Thanks guys for your feedback, really appreciate it.
Now let me digest it all :-)