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What do you think would be the most importain question to ask yourself before you set on a trade
- Before someone puts on a trade there are a lot of queries to be asked (I hope)
I want to hear what folks think is the most important of all of the questions
they ask themselves before they put to a trade!
I will post what I think Friday I want to here what other people believe
I know you're a nice and experienced trader, so I will believe you know that both pure price action trading (which is exactly what I do) and indior trading are all dependent on odds, which is they dont work all of the time, so for me personally exactly what a trader ought to do is get a good system with good win odds, which of course will probably work in certain market conditions and fail in other market state, from then on his or her concern ought to be MM which is for me the most significant part trading. This above state of mind of mine is important to me as it help keep me sane throughout lossing streak.
Well I could see where you are coming out, but I can not really agree. You're right in that any system/method will not work under all market conditions, yet to enter and rely on MM is a bit silly. In case you have identified which market states your method/system isn't good at trade in markets where these conditions exist?? Better to sit out the session or exchange a different pair where the requirements suit the?:
The best MM on the planet is to just enter high probability transactions, and if these conditions aren't present, then do not trade! Long and short are both market positions....keeping your money into your pocket is ALSO a position....and sometimes it's the smart choice.
I'll have to concur with. Real technical analysts do exist... e.g. people who know what's happening if they appear at a chart(s). Therefore, in the event that you know what's going on then you ought to have a plan which matches the current situation. On the reverse side, if you can not find out what's going on why trade? Better go to a casino, it'd be more fun...:
Money Management alone isn't trading... Money Management is there to make certain that you are able to plogically manage your trading activities and also to make certain you are not forced from the market because of 1 or 2 bad decisions. (however for your new trader I do believe MM is the most important thing to consider for a trade, because of them staying alive is paramount, so they can spend the correct time learning this craft)
Anyhow that's just my take on it.
Cheers,
-fighter
Trading:
in fact all traders will always loss!
If you go into the 10 biggest forex or stock or some other trading company
the people that rule aren't the traders
but the risk managers and Risk Dept
we will need to view ourselves as risk managers not traders!!
You believe you did the ideal thing taking it if you eliminate this trade will?
Are you really going to earn money over the long run doing precisely this kind of trade?
If the answer isn't certain, do not even bother.
This job in WalMart for minimum wage which I turned down to start trading full time with my savings and a second mortgage on the home is starting to look very good.
I hope Mac Donald's is hiring, but wait that I can sell all of the furniture and provide trading the Currency Market another attempt...