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yesterday the prep was good and the hyp2 was perfect
the day was good, after the massive losses of day one i can manage better the risk
and i like the job to trade with 15lots, building up, decreasing,
today i have to work a lot and i did not make the prep
only watch the charts i see very close the opnening and the O/S
i need to read more about the famous 2 lines range, i have severals lines
today was slow and confusing and i revererse severals times, better stay aside
in hindsight, always say , if i have waited more, i think i hurry, thinking, i lost this.
La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Can you help answer these questions from other members on NexusFi?
i have done the hyp2 very accurate, but for what?
i was stubbornly long, and i could n t reverse, i thought, my hyp 1 was ok...
as @mfbreakout says, could be better to wait and see
regarding the change with the tframe, i fell a little lost, and with time to do nothing, because i do not have the dom to stare at it
more time to think and be objectively, but i need to do it
La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
With great respect, you seem to be stuck making things so complicated. Your 3 hypotheses were simply (1) Up, (2) Down, and (3) A trading range - which is what the market does all the time. Basic price action. So why bother stating the same and then getting locked into one of them?
Many others have tried to help you simplify things. Do think about keeping it simple. And stop changing things all the time. Save your valuable time and energy (and $$ of course).
thanks richard for your time.
the idea of doing preps is go with some task done to the market and think before the battle, of course theres 3 posibilities, but what will do if happen one of them.
what happen to me once i am in the battle, ?why i do the opposite?
as you can imagine, i would like to learn how to do this.
i do not want to complicate myself if i can do simple and quicker
i am uncomfortable with almost i was doing
then i am trying differents things to try to find how can i be more comfortable (is that fit with my personality?)
of course, i like your comments and all your help you can bring me in this race
thanks
La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
i hear something interesting from ft71, about our job as a musician in an orchestra, we need to wait our time, enter when is our turn, execute and stop, and wait for next time.
as a beginner, you can play shorts parts first, as you execute them more comfortable, you an play longers pieces
if you are learning and try to execute master pieces as short 2014 and cover 1969 and go long there ,as @tigertrader, @bigmike, @mfbreakout, and other adv. traders do, you get burned
other example as baseball player, you try to go to 1 base at time, or go for a home run when you are learning
La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
I always want to solo and jam-out when I'm not supposed to even though I think I can add value to the orchestra. The problem is there is no way to evaluate if I can pull it off again or again with the same veracity at different performances unless I've memorized exactly what I'm doing. So if you're testing it's important to focus on the specific type of trade you're looking for and not settle for anything else. If you do settle for less and make a profit then whats to say you won't try it again and again eventually diminishing the profit you got in the first place? There needs to be certain level of uniformity in the context you're trading otherwise you're going to get random results. For me, the context of the trade is just as important as the setup. If one or the other is missing then my previous trading experience with the method will be useless.
ft71 is always great with analogies and teaching in general.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
this is the same pitfall that almost every new trader falls into, that is they want to trade THEIR way, which is inevitably a very comfortable, myopic, risk averse kind-of-way, as opposed to trading the correct way. the correct way being defined as the process necessary to make optimal profit. quite simply it's a defense mechanism that is used to block confrontation with an unconscious conflict and it's associated emotional stress. so, the new trader trades his way and develops bad heuristics and a misguided process, all the while rationalizing that he is an amateur that needs to crawl before he can walk. the misconception on the part of the new trader is that his way of trading and his way of approaching the market is less risky, when in fact, it is not. he is just losing his money in smaller tranches or as @Big Mike would say," dying the death of a thousand paper cuts." and, on top of it he is reinforcing an irrelevant and pointless methodology. i've seen traders on this forum waste years of their trading development adopting this attitude of intellectualization. the point is that the market is not going to adapt to you-you are going to have to adapt to the market. that's why you trade 1&2 lots when you are a beginner and increase your size as your competence and confidence grows. what you don't want to do, is fall into the trap of making excuses why you can't do something the right way from the start.
indeed, sound theories reflect context. too many traders take an attribute-based approach where they think the market is always going to the same thing regardless of the circumstances. they don't take into consideration market structure, price drivers, sentiment, etc. and then are at a loss when the market doesn't act they way they though it should.