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Looks like you have gotten the wrong message. I have several friends who trade based off LVN, CHVN etc and do very well. They just do not use so called ideal 2 points etc stop loss. I also know of traders who scalp all day with tight stop loss and do well.
In summary, i have nothing against any other method. I just do not trade that way. My messages are primarily intended for traders who are trying to incorporate some of my approach with their existing one and it is not working out. That's why it's not a good idea to mix water and oil. Mixing 2 totally different methods is not a good idea- is the message most of my posts try to convey.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Sorry but you have to change your mentality. If you are thinking like that than you can better think of trading a trillion contracts and just take one trade and retire.
If you can trade one contract you can trade X-CONTRACTS, that is how you have to think!
I do not encourage absloute statements like following
" that is how you have to think! "
" you have to change your mentality" and so on.
Above statements may or may not be true. Since, i personally do not know know traders, i try to keep it general and will ask others to do the same.
Thx
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
and now back to CL. Just in case one starts thinking that i ONLY short CL. Traded CL very efficently- so far. Still long and added to longs around 93.60. 3 hours of Hold time.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
3 hours and 170 ticks later long from 93.08 looks like a SURE THING and if CL gets back to 93 to 92.50 area today or tomorrow- 94.80 area will look like an obvious area to short, if one can magically figure out a tight stop loss. I do not belive in magic. Only probabilities.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Look at all bearish candles. Hum---. Just have to hold for 4 hours till Johhny come lately crowd shows up.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Don't even think about trading GC, NG etc till you are very sure what these are all about. Someone is getting hosed- don't be the one trying to trade for ticks and declare yourself fantasy PRICE ACTION trader. Just because you have made very mistake under the sun and have gotten rid of indicators does not make you a price action trader. It's a good goal to have. From day one i thought i am a price action trader. I just liked the sound of it till i made every mistake under the sun and there was none left to make.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
"Calpers Is Done With Hedge Funds; Paid $135 Million in Fees Last Year for 7.1% Return"
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.