[peterjerome]

Originally Posted by zdo »

re "execute the strategy with precision & commitment, but keep your eye on the objective" ??

The underlying thread of this thread seems to be more like
let the objective take care of itself, keep your eye on and execute the strategy with precision & commitment,
... one of the better ways to play most 'games'

i NEVER take my eye off the prize. i'l leave that to the autotraders.
peter.

[Avalon7]

Agreed. I find that when I try to make money for money's sake, or try to make "X" pips per day, I inevitably lose because I force trades. As if I "have to" make "X".

If I just watch and wait for a setup, and if I see it, take it - and don't think about the pips or a certain amount - I consistently do better. Not just a little bit better. Far better.

It's totally psychological about forcing trades or not for me.

Thanks for this topic - an incredibly well timed reminder!

[Waterfield]

I'm not taking any advice from someone who can't differentiate between lose and loose.

[Tradewinds]

Originally Posted by peterjerome »

profit vs. strategy?....not a case of chicken or egg.

profit is the objective. strategy is your plan to secure objective.
execute the strategy with precision & commitment, but keep your eye on the objective.
or so it seems to me.

peter.

We all learn and get ideas as we are trading. So strategy development and trading can happen almost simultaneously. I would not see them as mutually exclusive. It's quite easy to intuitively know how well we are doing as we are trading, without actually looking at the P/L report.

I think part of the issue here is the level of alertness that a trader has while trading. If keeping your eye on the P/L column motivates you to stay alert, and make the right decisions, that's a good thing. I would rather just know that I dealt well with my loosers, and made good decisions with the winners, and trade my system, having confidence in it.

I'm more concerned with profit as I'm developing my strategy than when I'm implementing my strategy. I don't see much sense in live trading a strategy that I'm really not sure about.

[peterjerome]

Originally Posted by Tradewinds »

I'm more concerned with profit as I'm developing my strategy than when I'm implementing my strategy. I don't see much sense in live trading a strategy that I'm really not sure about.

interesting that many speak of their strategy as if it was the holy grail that needs no supervision. we have auto-pilot systems that are in contol of the takeoff, the flight itself, and the landing...all without aid of a pilot. what real purpose does the pilot serve? would anyone actually board a plane that was pilot-less?

i don't monitor the P&L column, but i do keep an eye on the price action...just in case unforseen turbulance develops. after many years of unsuccessful trading strategies, i am finally consistently in the black. that works for me...
good trading,
peter.

[Tradewinds]

Originally Posted by peterjerome »

interesting that many speak of their strategy as if it was the holy grail that needs no supervision. we have auto-pilot systems that are in contol of the takeoff, the flight itself, and the landing...all without aid of a pilot. what real purpose does the pilot serve? would anyone actually board a plane that was pilot-less?

i don't monitor the P&L column, but i do keep an eye on the price action...just in case unforseen turbulance develops. after many years of unsuccessful trading strategies, i am finally consistently in the black. that works for me...
good trading,
peter.

I think the analogy of a pilot is good. Turbulence is often predicted ahead of time. The pilot can divert. But that is part of their strategy. The pilot is often told what to do by the tower. The pilots have a flight plan. They are operating the controls, but for the most part they are following the plan very, very closely. Being prepared to deal with the turbulence is part of your strategy. Your strategy may be mostly, "in your head", rather than programmed. But you still have a strategy, and you execute it. That's the way it sounds to me. What I'm saying is, you may be executing your strategy a lot more mechanically than your realize. Your strategy just may be more complex and have subtleties that would be difficult to document and program.