TheStrategyLab.com Free Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods
It is currently Thu Aug 16, 2018 7:11 am

All times are UTC - 5 hours




Post new topic Reply to topic Bookmark and Share  [ 2 posts ] 
Author Message
 Post subject: loosing days and instrument selection
PostPosted: Mon Sep 09, 2013 2:53 am 
Offline

Joined: Fri Jun 28, 2013 5:19 pm
Posts: 48
You have had a loosing day so far this month, do you simply ignore the day you have lost, or do you try and figure out why price went against you and how you can avoid it next time?

Also when choosing an instrument to trade, other than a signal/price action definition what do you look for?

Thanks again
R33GMD


Top
 Profile  
 
 Post subject: Re: loosing days and instrument selection
PostPosted: Mon Sep 09, 2013 5:35 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3202
Location: Canada
r33gmd wrote:
You have had a loosing day so far this month, do you simply ignore the day you have lost, or do you try and figure out why price went against you and how you can avoid it next time?

Also when choosing an instrument to trade, other than a signal/price action definition what do you look for?

Thanks again
R33GMD


Hi,

I'm a veteran trader and loosing trading days no longer impact how I trade going forward after the losing trading day. In contrast, early in my trading career it did bother me...I would trade "cautiously" for a few trading days until I got my confidence back.

I rarely look back at a losing trading day or losing trade unless something odd or unfamiliar occurred in my trading routine involving the trade.

I use an easy routine to select my trading instruments. I test my trade strategy on all available products I have access too. I then only follow the trading instruments that my methods performed the best on. After that, I just follow those core groups of trading instruments every year and will only review the list of trading instruments I follow when volatility has changed on a consistent basis...prompting me either add a new trading instrument to my "follow list" or to just remove the trading instrument that has consistently crappy volatility. Next, I don't care which one of the trading instruments in my "follow list" that gets a trade signal on any given trading day...if I see the trade signal...I trade it. If I miss a trade signal (I miss a lot because of my personal life)...no biggie because there's always another trading day.

Thus, I don't get married to any particular trading instrument especially when its volatility becomes low when another trading instrument volatility is increasing. I'll go where the action is at and that's the trading instruments with increasing volatility.

Regards,
M.A. Perry


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic Bookmark and Share  [ 2 posts ] 

All times are UTC - 5 hours


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr