15 min. Breakout - tradingisfishing

[Sunny1]

Point taken ☺️

No really explain me in detail becuase there deep psychology as well as confusion regarding greed in the market

 

[VJAY]

Yes Consecutive losses does make one introspect his ways. We must do that too.

A great Trading system willl give majority wins and very minimum losses: GOD Level ( Not looking for this)

1. A good trading system, should give 1 win in 2 trades, and winning trades must be greater then loosing trades.
(Target 3)

2. Average trading system should give 1 win in 3 trades and winning trades must be greater then loosing trades
(Target 2)

3. Below Average Trading system should give 1 win in 3 trades and winning trades might be equal or slightly better then loosing trades. ( My Target 1)


Anything else we are wasting time. Right now my system is not in above mentioned 3. So Idea is to keep testing when we get 3 and 2. Giving up is not an option.

In my initial days I too thought this is the main thing for successfull trading...But very quickly I learnt its not there are other things which is important than these type of rules

 

[newtrader101]

No really explain me in detail becuase there deep psychology as well as confusion regarding greed in the market

Just because you're getting your trades correct doesn't mean you can over leverage. It seems to be a human tendency. Recipe for disaster.
Example: The NRML trade I placed earlier in the day is going well, I get cocky and think of entering a few more positions, the next time it pulls back. I forget that my risk has crossed the limit. Also that it is 9 pm, no time for the trade to play out.
And then bang! It is a pullback, but on the higher TF, and my profits vanish, because I dont have funds to convert it into NRML.
I could've exited earlier, content with a smaller profit.

 

[VJAY]

Just because you're getting your trades correct doesn't mean you can over leverage. It seems to be a human tendency. Recipe for disaster.
Example: The NRML trade I placed earlier in the day is going well, I get cocky and think of entering a few more positions, the next time it pulls back. I forget that my risk has crossed the limit. Also that it is 9 pm, no time for the trade to play out.
And then bang! It is a pullback, but on the higher TF, and my profits vanish, because I dont have funds to convert it into NRML.

 

[Sunny1]

Just because you're getting your trades correct doesn't mean you can over leverage. It seems to be a human tendency. Recipe for disaster.
Example: The NRML trade I placed earlier in the day is going well, I get cocky and think of entering a few more positions, the next time it pulls back. I forget that my risk has crossed the limit. Also that it is 9 pm, no time for the trade to play out.
And then bang! It is a pullback, but on the higher TF, and my profits vanish, because I dont have funds to convert it into NRML.
I could've exited earlier, content with a smaller profit.

Very well then the problem lies elsewhere not the greed. Two things come here.
1. Mixed of intraday and positional trading which is sign of confusion rather than greed.
2. It was 9pm (I assume you are trading commodity) and there was no time for trade to play out. another sign of confusion.
Major source of mistakes here is not greed but fear and guilt. all confusions begin from fear and guilt. all this made you to think that you can make extra profit by going intraday which caused you to break the pre-set plans. Think again greed here would have forced to plan better and risk bigger and better.

 

[newtrader101]

Very well then the problem lies elsewhere not the greed. Two things come here.
1. Mixed of intraday and positional trading which is sign of confusion rather than greed.
2. It was 9pm (I assume you are trading commodity) and there was no time for trade to play out. another sign of confusion.
Major source of mistakes here is not greed but fear and guilt. all confusions begin from fear and guilt. all this made you to think that you can make extra profit by going intraday which caused you to break the pre-set plans.

Thanks.

Think again greed here would have forced to plan better and risk bigger and better.

Interesting take. Though I'm not sure yet.

 

[ramshirsath]

Tamo tisco

 

[lekopan]

I think that all traders are trying to do their best in trading and to develop perfect trading strategy that will really make deals profitable. The problem is that it takes much time and effort to perfect strategy to reach your profit goals. This process does not necessarily involves greed

 

[Traderjeet1]

I think that all traders are trying to do their best in trading and to develop perfect trading strategy that will really make deals profitable. The problem is that it takes much time and effort to perfect strategy to reach your profit goals. This process does not necessarily involves greed

Also, the same strategy doesn't work in all mkt conditions so we have to factor that also.

Off late I'm bit busy at work and not following actively