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goodoboy
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Page 2 (continued)
And you never ever know which trade will work out. Some will. Some won't. You need to have your losers MUCH smaller than your winners. And you need to have SMALL losers. The reason is that large losers will screw up your emotional makeup and keep you from either re-Entry or taking the next signal.
If your rules are too precise - they won't get you in the next move because the market is always slightly different. I can tell you that ghe price action of these moves today are quite a bit different than they were 2 years ago. Your entry rules have to evolve and keep changing to meet the market change,
It is your ability to develop your MENTAL EDGE that will make you money.
You could read the best book (out of about 100 that I wasted my money on) on trading written by Chris Shea called LICENSED TO PROFIT. It is all about how you need to think about trading as a business.
