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I'm not sure I count losing money as "crushing emotional pain". I admit I could be more disciplined, but on the rest I think I'm doing better than most.
Thanks for your opinions and warnings.
Have a CAVU day!
Can you help answer these questions from other members on NexusFi?
No. I lose all the time, I don't get concerned, and I am not a gambler. I think the ability to emotionally handle losses is something that comes with experience - the experience of losing, then winning it back, then losing, etc.
10 years ago, my beautiful wife could tell if I made or lost money on a particular date. My results affected me, and it outwardly showed. Now, she can't tell at all, unless I tell her. I think that is a good thing.
If @bcabebe is really emotionally detached from money, more power to him as he starts trading. Before I started trading, I thought I was detached too... until I lost.
Any opinions on trading the Asian session. Nikkei, ASX 200, etc? I would think something in Asia must have liquidity to trade considering its there day time.
If you are referring to expectancy (which is just the average trade value), I'd say a minimum of $50 net is reasonable.
If you are talking about Tharp expectancy, which is the average overall trade divided by the average loss). Values there over 0.10 are reasonable, the higher the better.
Of course, the trade frequency also plays a role here. Tough to make money with low expectancy and low trade frequency, but low expectancy is OK with high frequency of trades.